How to Market Your Home for Rent

We live in a highly competitive rental market. It’s no longer enough to just have an investment property and lease it out. You need to market it effectively. Otherwise, you could end up with longer vacancies, bad tenants, and low rent prices.

With good marketing, you can find tenants who can treat your property with care and respect. They can also stay there in the long term, increasing your profits.

In this article, we will present a couple of tips on how to attract tenants.

Define Your Ideal Tenant

Before listing the property anywhere, you will have to think about who your ideal tenant is. This way, you can target the listing descriptions, presentations, and everything based on them. If you don’t do that, the marketing becomes generic and broad, getting lost among countless other listings.

Think of the house as if it’s someone on a dating site. The looks, the description, everything is meant to attract your ideal match. If you don’t add any characteristics, they won’t match with you. Even if they do, there’s a good chance you don’t want to match with them.

For example, a family could be looking into good schools, safety, space, and overall peace. Professionals prefer properties with tech features in an urban area, within walking distance of important points. On the other hand, students could look for affordable rent and proximity to campus.

Ask yourself, “How much can I rent my house for?” or “What attractions or hubs are near the property?” Tools such as REI Lense can help you calculate the rent based on mortgage trends. This should help you narrow down the list.

Prepare the Property

Next, you will have to make the property look pretty. The better it looks, the higher the chances will be of attracting tenants. On the plus side, they will be more willing to pay a good monthly price for it if it looks pristine. They will already picture themselves living there, especially if they come to take a look at the place.

Even if the place looks just slightly dirty, dated, or cluttered, a percentage of viewers lose interest immediately. If they do end up visiting the house and they see chipping paint or damage, they are left with a sour taste. This is why you have to prepare the property even before you list it.

Here’s what you have to do:

• Deep Cleaning: Everything from windows to baseboards, cabinets, and grout should be squeaky clean. If the property looks cared for, it signals that you value cleanliness and maintenance. 92% of people think that good hygiene is a priority, so this benefits you.
• Handle Minor Repairs: Whether it’s a squeaky door, a cracked tile, or a leaking faucet, address minor repairs. These add up and suggest attention to maintenance.
• Fresh Paint: Giving the rooms a fresh coat of paint can refresh the space and make it look clean. Stick to neutral tones because they look good in photographs and appeal to a broader variety of tenants.
• Decluttering: Take out personal items and excess furniture. Not only do they take away from the space, but people prefer minimalism. Plus, they’ll see it as a place they can decorate as their own.
• Improved Curb Appeal: First impressions start the moment you reach the gate. Make sure the hedges are trimmed, the lawn is mowed, and the walkways are clean. A potted plant and a welcome mat at the front door can create a welcoming environment.

These modifications can require an initial investment. However, in the long run, the costs will come back to you, and then some.

Create Quality Photos and Videos

If you want to learn how to rent out your house fast, the answer is quite simple: pictures.

How you present it will determine if people swipe to the next or contact you for a viewing. Make sure that the pictures are clear and lit and not dark and grainy. The latter is more likely to send the tenants packing.

Take pictures during the day to use natural lighting to your advantage. When photographing the rental, make sure to showcase every room. The laundry room and bathroom are just as important. Even pictures of the pantry can give you an advantage, especially as people are looking for storage space.

Make sure to highlight special features. Do you have a nice fireplace or a vaulted ceiling? Perhaps the balcony was made into a nice cozy spot for summer chilling. Regardless, make sure you offer a couple of close-ups for those details. If you can, use a wide lens to be certain you get everything in the picture.

Consider hiring a professional rather than using your phone to snap photos. There are plenty of low-cost options out there, and these people know how to put your property in the best light. In the long run, this can pay off, especially since the pictures will draw the right tenants.

Aside from the pictures, add a video walkthrough, or perhaps even a 3D virtual tour. These are great for remote renters since not everyone can immediately come for a visit.

Listing a House for Rent with Effective Descriptions

Writing an effective listing description could make the difference between high demand and low occupancy.

The first thing you should look into is the headline. It should be eye-catching, but it shouldn’t be clickbait. You shouldn’t exaggerate or promise something that isn’t there just for the sake of clicks.

Next, you’ll have to add the monthly rent info and key features in the first lines. This is what people care about the most. If they like what they find, they’ll move to the rest of the description.

There, you should add details such as the layout, room descriptions, property appliances, or benefits of the location.

You should also include things such as the lease term and the deposit. Since 70% percent of apartment renters have pets, you should also clarify if it’s pet friendly or not. Include parking and neighborhood highlights by adopting clear, honest language. You want to show off the property's strengths without over-hyping it.

Post on the Right Platforms

The next stop on “how can I rent my home” is making sure you post the listing on the right platform.

If you want a broader reach, then Zillow Rental Manager is a good spot to list the property. On the other hand, if your goal is to reach families, Apartments.com can be more suitable.

Facebook Marketplace gets a lot of traffic for local rentals, but you can also try HotPads.com. Rent.com is also a good option, especially as many students look on that platform first.

You can try to post on multiple websites so you can get broader exposure.

Keep in mind that some platforms allow free listing, whereas others are paid for. The free type is a great option if you have time to wait for tenants or are short on cash. However, paid listings offer more visibility and faster results. This might be a good option if you are in a competitive market.

Marketing Rental Property Beyond Platforms

Marketing doesn’t stop at listing your property on rental platforms. You can go beyond that by using social and community-based promotions. For the most part, these are free of charge, especially if you have some good networking going on.

Look into local Facebook groups or some forums connected to your neighborhood. Chances are, that’s where your target audience is looking for rentals.

You can also encourage some word-of-mouth promotion from your friends and family. If you are looking for new tenants because your current ones are relocating to a different city, you can give out referral incentives for your former and current tenants.

Respond Quickly and Screen Tenants

Lastly, you’ll have to create a habit of responding quickly and screening your tenants. This is important because tenants won’t wait long.

If you take a lot of time to answer their messages, they’ll think you’ll do the same thing after they sign the lease. You should set up notifications or check the inbox regularly to keep them from choosing your competition instead.

Next, you’ll have to use pre-screening tools before a showing. Ask them when they want to move in, their reason for moving, and whether or not they have any pets. Ask them about their income or employment, because their payments depend on this.

A good idea is to use rental applications such as the Zillow Rental Manager to keep things organized. Scheduling tools can be a great asset to mark things down and stay organized with the visits. Screening tools could also help you do background checks on your potential tenants.

The Bottom Line

Effective marketing leads to better tenants and faster rentals. It’s best to create a detailed marketing plan, and the steps above can assist you in your endeavor.

Tools such as REI Lense can help you estimate the potential rental income, evaluate your returns, and make data-driven decisions for a good rental strategy. Start using REI Lense today for smarter, more profitable decisions!