How to Advertise Your Louisville Rental Property Successfully
All landlords want their rental units to be full of tenants. To achieve this goal, you must ensure that the units are well maintained, required utilities are present and rents are reasonable.
However, even if you ensure that the unit is rent-ready, current and future tenants may not always find the units due to the high competition. This is where marketing and advertising come in!
By advertising your unoccupied apartments, you can attract more attention to your property and differentiate yourself from the competitors. The main goal of promoting your open rentals is to connect with those who are interested in renting them.
In this article, Alltrade Property Management focuses on how to successfully advertise rental property in Louisville.
Photography
In a competitive market such as Louisville, a property owner is competing against hundreds of other landlords. Your rental ad, therefore, needs to lure in a tenant at the first glance. And that’s where quality photography comes in.
From our experience in the property market, a rental ad with good photos will receive more attention from potential renters. A potential tenant will be able to appreciate the quality amenities in the space and more importantly envision themselves in the rental space.
When it comes to photography, a few things need to be considered:
- Lighting - The type of lighting used will have an effect on the clarity of a photo. We recommend you use natural light. If this is not possible, consider rental proper lighting equipment on the day of your shoot.
- Angles - What you are aiming for is a natural shot that offers your potential renters the best view of your property and its rooms. Take photos from a chest-high position and preferably stand in the corner of the room.
- A shot-list - Map out the most important features that you need to capture for your photos. This way you won’t be missing any key shots in your ad.
- Equipment - While smartphones today are a good option, don’t shy away from buying quality equipment. Especially if you looking to market several properties, a good quality camera could make for a solid investment.
High-Quality Copy
Photos can only give so much information to potential tenants. You need to accompany them with an ad copy in order to give them any missing information about the property and some of your rental policies.
A high-quality copy is not only important for presenting the whole story but it is also important from an SEO (Search Engine Optimization) perspective. With the right phrases and keywords, you are improving the searchability of your property on the internet.
Two things need to include with regards to your rental ad copy:
- The headline - Your headline must include the number of bedrooms/ bathrooms, rental price, location, and the selling point.
- Body/ Description - Here you want to highlight the essential features and amenities of your property in detail. This is where you hammer home what makes your property stand out from your competitors.
Distribution of Your Rental Ad
Even with the best description and high-resolution photos, the rental ad is only as effective as the means through which it’s distributed. Make use of rental listing sites such as Zumper, Redfin, Hotpads, and Zillow. While you might have to pay a small service fee, compare this cost to the loss of income you face if your property remains vacant on the market for too long.
It’s also important to have a proper analysis of your target demographic. By virtue of your property’s location, amenities, and other factors, your property might be ideal for one demographic over another. When marketing to your key demographic be sure to follow the Fair Housing Laws and avoid potentially discriminatory phrasing.
In addition, you must also remember that you are not the only property owner looking to use rental listing sites. Once you have put up your rental ad online, you have to monitor it on a regular basis. Without consistent monitoring, your rankings might falter.
Additional Tips
Offer Incentives
If you’re having trouble losing down tenants, think of how to generate more interest. Show prospects what makes your rental property such a great place to live. Can you offer them something your competitors can’t? Perhaps your home is pet friendly, has private parking, or was recently renovated. These can draw in more people and make your rental stand out from the competition.
Word-of-Mouth Marketing
Word of mouth is another popular way to find tenants. It's crucial to market a rental both online and offline. Inform your friends and family that you have a rental unit ready for lease. You never know who might be seeking a place to rent.
Use Social Media
Advertisements for rentals can also be found on social media platforms such as Facebook, Twitter, and Instagram. Make posts sharing some photos of the property and use the captions to describe the property in more detail. These posts can also get shared among other uses on the platform resulting in more visibility for your rental.
Conclusion
Having the newest property with modern amenities in the neighborhood is not enough. You need to show off your rental property and attract potential renters in Louisville. But doing so means you need to put in the work, which not all landlords have the time for.
With almost two decades of experience in the property market, the property management company to rely upon is Alltrade Property Management. We offer full management services to property owners in Louisville, KY. Get in touch with us today to learn more!