Marketing Your Rental Property for Maximum Returns
Real Estate Know-how
30 November 2016
In a world of information overload, a compelling, charismatic real estate listing gives an edge in capturing quality tenants
In a world of consumer information overload, it’s essential to consider the best possible way to ‘sell’ your property investment, making it stand out among the hundreds of online advertisements prospective tenants will sift through.
Writing a compelling, charismatic real estate listing could mean all the difference in ‘selling’ your rental, so we wanted to share these five insider secrets that experienced property managers use to capture the market and keep quality tenants…
1. Grab the reader’s attention
The headline you choose for your listing can either compel or alienate your market in an instant. It’s like the opening line of a book – if the author makes it enticing enough, you don’t want to put the book down, but if it’s just ‘meh’, you’ll likely never get beyond that first sentence.
‘Stunning inner city luxury at an affordable price’ reads better than ‘Cheap Brisbane apartment for rent’.
Focus on keywords that appeal to the consumer’s emotion and grab the attention, such as spacious, luxurious, masterpiece and so on. And try to avoid over-worn clichés!
2. Don’t restrict your tenant pool
Alienating prospective tenants with headline statements that suggest some level of exclusion, will only serve to decrease the amount of people stopping to read your rental property listing.
‘The perfect family home’ immediately implies this is not a place that anyone without children should bother giving much thought to, meaning you’ve immediately lost a large number of younger renters.
Likewise, suggesting your investment is ‘Ideal for sharing’, or informing your audience of a ‘No pets allowed’ policy, will further eliminate a large portion of potential tenants.
When you consider that a recent survey found over 85 per cent of Queenslanders own at least one pet, it’s apparent that this might not be a great way to increase your listing traffic.
3. Make it visually impressive
Wherever possible, always use professional photography to best capture the visual components that will most appeal to your market in the listing.
Rooms need to look bright, spacious and inviting, and the experts know how to ‘stage’ a dwelling to bring out its best features.
Remember, first impressions are everything in today’s information age.
4. Tell a compelling story
Try to relay the experience of living in your investment,along with all the benefits and features prospective residents can look forward to.
Create a sense of urgency for the reader. Why is this a ‘must rent’ property? What makes it unique?
You want to highlight the special elements tenants will be sacrificing if they don’t snap up your property. But you also need to avoid playing on people’s fear too much with cautionary headlines such as ‘Last opportunity!’ and ‘Don’t miss out!’ This just screams desperation.
Instead, try to tell a story about the experience of living in the home.
5. Sell the suburb
The vast majority of tenants will prioritise location first and foremost when searching for rental accommodation, followed by price and property suitability. Hence, it makes sense to really highlight all the area has to offer, in terms of things like infrastructure and amenity.
Talk up aspects of the lifestyle and ambience a local resident can expect to enjoy, paying close attention to features that will most appeal to the location’s predominant demographic, such as a strong café culture, good public transport links or well regarded schools for the family market.
If you would like more insider insights as to how to best find and retain quality tenants in order to optimise your portfolio’s cashflow position, why not speak to the team here at Little Real Estate?