According to BankRate.com, real estate remains the most popular long-term investment. Roughly 28% of Americans claim that this is their preferred investment.
Many property investors become landlords because it helps them pay off their investments. However, there are requirements for this. Landlords need tenants who will preserve the property's condition so it can accumulate value.
This need raises a crucial question. How can you find the best tenants for your rental property?
The answer to this lies in property marketing. When you use the best strategies to market your rental property, you can ensure its value appreciates.
We'll give you some property marketing tips to help you find the best tenants. Let's jump right in, shall we?
How To Market Rental Property with a Great Listing
The first step in rental house marketing is writing a listing that generates interest in the place. The better your listing, the better quality of tenants you'll attract.
First, write a catchy title that includes all the relevant information tenants want to know. This information includes:
- number of bedrooms
- number of bathrooms
- type of property
- an attractive feature of the property, like a swimming pool
Then, write a short description. This description should highlight the property's best features, like its location and nearby conveniences.
Use descriptive adjectives that convey the style of this property. Is it a classic colonial style, or does it utilize many contemporary features?
Next, talk about the neighborhood. Is it a quiet place to raise kids? Or, is it a place full of young people that offers a thriving nightlife?
Finally, give details about the house. Does it allow pets or smoking? Then, ensure would-be renters can discover how to contact you.
Provide Photos of the Property
Photography is an essential component of any property marketing advice piece. Your listing should include multiple photos, including pictures of all the rooms.
Likewise, ensure your photographs depict a neat and orderly environment. An orderly living space usually attracts tidy tenants. It also makes your listing appear more trustworthy.
Create a Solid Rental Agreement
Finally, create a rental agreement that clearly defines the responsibilities of the tenant and landlord. This way, you have a document that holds both parties accountable. Once you draft the contract, have a lawyer examine it to ensure it's top-notch
Fulfill Your Responsibilities
The above tips can help you find excellent tenants. However, the best way to retain these tenants is to fulfill your landlord responsibilities.
These include answering building concerns like issues with utilities or making rent easy to pay. When you fall behind on your responsibilities, tenants may feel that they'd be better off living somewhere else.
Simplify Your Property Marketing with a Property Management Service
As you can see, property marketing can take a lot of work. You may wonder if you can do all of this yourself.
Fortunately, you don't always have to. Instead, you can contact a property management service to help.
Our Chicago services can help renters, and landlords, navigate the challenges of rental properties. For example, we help renters by providing easy ways to make online payments. We also assist landlords by alleviating their responsibilities and managing their properties.
If that appeals to you, don't hesitate! Contact us today to discuss how you can partner with our Chicago services.