Time costs money, and nowhere does this hold more truer than in real estate. Ever wondered why the time when one of your condos for rent Woodstock GA is unoccupied is known as a void period? It's simply because it nullifies profits -- not only do your earnings take a dive when a unit is vacated, but you're also forced to foot its maintenance bill.
While void periods are inevitable, their length and negative impact can be minimized. This requires a two-pronged approach: looking after your current tenants and continually marketing your properties. The latter's meant to attract prospective renters on a proactive basis.
Just like every journey needs a destination, a marketing campaign only makes sense when directed to its rightful audience. Developing an understanding of whom you want to target will require you to research the local population. Beyond surveying neighborhoods, you may approach local realtors for information or even play a more active role in the community. The further you're willing to go, the more precise your strategy stands to become.
The larger percentage of today's renters go online to look for housing. What's more, the internet provides plenty of free ways to promote your properties. Combining these two brings out the obvious need to post your listings in multiple platforms. To give yourself the best shot at success, make sure to:
Write Persuasive Listings: A good listing is one that catches the attention of your targets and, from there, paints the right picture in their minds. So choose your words carefully when creating your copy. There's nothing wrong with using flowery language, as long as it describes your properties in a realistic and straightforward manner. As for the subject matter, how about showcasing their unique highlights?
Invest in Professional Photos: If a picture is worth a thousand words, no expenses should be spared when it comes to photos. They are the first thing people will see when they happen upon your listings. Additionally, photos often form the basis upon which comparisons are made. Now add into the equation the ever-rising preference of smartphones, and it becomes clear why you're better off hiring a pro.
Get Social: With social media playing such a huge role in people's lives, using it to market your rentals is a no-brainer. It also goes without saying that you want to have accounts on several platforms, rather than limit yourself to just one. Maintaining a consistent posting rate will get the job done for the most part. Otherwise, consider running an influencer campaign to increase your following.
Word-of-mouth is one of the oldest, yet still highly effective real estate marketing tools. Leveraging your tenants' networks can keep you supplied with prospects, more so if you reward their efforts. Your options here range from offering a finder's fee or just a discount on one's rent. Either way, it's a small investment to make with a potential large payoff.
While void periods are inevitable, their length and negative impact can be minimized. This requires a two-pronged approach: looking after your current tenants and continually marketing your properties. The latter's meant to attract prospective renters on a proactive basis.
Just like every journey needs a destination, a marketing campaign only makes sense when directed to its rightful audience. Developing an understanding of whom you want to target will require you to research the local population. Beyond surveying neighborhoods, you may approach local realtors for information or even play a more active role in the community. The further you're willing to go, the more precise your strategy stands to become.
The larger percentage of today's renters go online to look for housing. What's more, the internet provides plenty of free ways to promote your properties. Combining these two brings out the obvious need to post your listings in multiple platforms. To give yourself the best shot at success, make sure to:
Write Persuasive Listings: A good listing is one that catches the attention of your targets and, from there, paints the right picture in their minds. So choose your words carefully when creating your copy. There's nothing wrong with using flowery language, as long as it describes your properties in a realistic and straightforward manner. As for the subject matter, how about showcasing their unique highlights?
Invest in Professional Photos: If a picture is worth a thousand words, no expenses should be spared when it comes to photos. They are the first thing people will see when they happen upon your listings. Additionally, photos often form the basis upon which comparisons are made. Now add into the equation the ever-rising preference of smartphones, and it becomes clear why you're better off hiring a pro.
Get Social: With social media playing such a huge role in people's lives, using it to market your rentals is a no-brainer. It also goes without saying that you want to have accounts on several platforms, rather than limit yourself to just one. Maintaining a consistent posting rate will get the job done for the most part. Otherwise, consider running an influencer campaign to increase your following.
Word-of-mouth is one of the oldest, yet still highly effective real estate marketing tools. Leveraging your tenants' networks can keep you supplied with prospects, more so if you reward their efforts. Your options here range from offering a finder's fee or just a discount on one's rent. Either way, it's a small investment to make with a potential large payoff.
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