7 Amazing Strategies to Market Your Rental Property

7 Amazing Strategies to Market Your Rental Property

Marketing your rental property can be stressful, especially when you're competing for top-notch renters. But with the right strategies, you can easily set your listing apart and attract quality tenants.

This blog will discuss seven proven ways to market your rental property effectively. Let’s dive in!

1. Create an Engaging Rental Listing

7 Amazing Strategies to Market Your Rental Property

Your rental listing is a potential tenant’s first impression of your property, so it needs to shine. To create a listing that grabs attention and drives inquiries, we recommend including these elements:

Amazing Property Description

A compelling property description is key. Focus on benefits rather than features, and paint a vivid picture of life in your rental. Here's an example:

  • Ad #1 (Weak): 3 bed, 2 bath in Inverness with a fenced-in backyard. Recently painted and new carpet installed.

  • Ad #2 (Strong): A spacious three-bedroom, two-bath home with more than enough room to fit your king-sized bed, nightstand, and armoire. The fenced-in backyard offers ultimate privacy, and the neighborhood is in the highly-rated Oak Mountain school district. With fresh paint and new carpet, this home is move-in ready and waiting for you to make it your own!

Which description draws you in more? Put yourself in the prospective tenant’s shoes and sell the experience of living in your property.

Link to Your Website

Create a single property webpage with all the details, including features, photos, and videos. Make it easy to navigate and include a contact form so prospects can inquire about the property directly.

High-Quality Photos and Videos

Visuals are crucial for catching a renter’s eye. Here are our top tips for taking stunning property photos:

  • Use a wide-angle lens to capture entire rooms.

  • Take photos in landscape mode, ensuring they’re high resolution.

  • Shoot during the day with natural light and open windows.

  • Arrange the photos in this order:

    • Front of the house

    • Kitchen (at least two or three photos)

    • Den

    • Bedrooms

    • Bathrooms

    • Bonus rooms

    • Backyard

Walk through the property slowly for video tours, focusing on unique features. If needed, consider hiring a professional—high-quality visuals can cost as much as $300 but can always be used more than once.

2. Ensure the Right Price

Pricing your rental property competitively is essential. Research the local market and compare your property to similar listings. Pricing your rental too high can deter potential renters, while setting it too low may raise concerns about the property's quality. To strike the right balance, research the local market and choose a competitive rate that aligns with similar listings in your area. Review comparable properties, their pricing, and the amenities they offer to guide your decision. Tools like Zillow Rent Estimate or Rentometer can help you determine the fair market value of your property compared to other rentals in the area.

When determining the market rate for your rental, remember this crucial point: prospective renters tend to focus on the short term, unlike home buyers who may spend months or even years searching for the right property. Renters typically aim to move within a month or two and prioritize just a few key features in a home. They often choose the first property within their budget that meets their needs, driven by the fear of losing it to someone else. This makes it essential to understand how your rental compares to others currently available. The most valuable data you can gather is an accurate assessment of the rental rates of comparable properties in your area.

Overall, pricing is just one factor that affects how quickly your rental gets leased. For more strategies to reduce your rental's time on the market, check out this helpful video.

3. Utilize Online Marketing

Most renters searching for a new place to live start their search online, so your digital presence is critical. We recommend that you post your listing on popular platforms like:

  • Craigslist:  While there are more modern platforms for advertising to prospective renters, Craigslist is still a viable option if you want to include it in your strategy.

  • Zillow and Trulia: With a Zillow Rental Manager account, you can easily list your property on both sites for a fee. These platforms are a must for reaching the widest audience.

  • Facebook Marketplace and Zumper: Great for targeting local renters and leveraging your network.

Consider boosting social media posts about your property for added visibility. Don’t forget to share your listing with friends and family too—they might know someone looking to rent!

If you’re unsure where to list your rental property to reach the right audience, watch this video for actionable tips on the best platforms and strategies to market your rental property effectively.

4. Leverage Offline Marketing

While online marketing dominates, traditional offline marketing methods still have value:

  • Flyers: Distribute in high-traffic areas like coffee shops, libraries, and gyms. Include a QR code linking to your online listing.

  • Word of Mouth: Encourage friends, family, and current tenants to share your listing. Offer small incentives for successful referrals.

  • For Rent Signs: Place signs strategically to catch the attention of passersby.

5. Hold Open Houses That Sell

Hosting an open house can attract multiple potential residents simultaneously, saving you time and effort. Here’s how to make an open house successful:

Prepare the Property

Ensure the entire property is neat, clean, and safe before showings. Touch up paint, deep clean, and remove clutter before the open house. Remember, you want prospective renters to visualize themselves in the home and get excited about that possibility! We recommend showing up 15-20 minutes early to ensure everything looks great before the open house begins. Bring a broom, wipes, and a mop.

Host Effectively

Don’t crowd the residents when they’re previewing the home. They are usually looking around and checking off boxes in their mind so want to move at their own pace. We recommend that you stand by the front door and allow them to walk alone through the home. If they have questions – and they will – they’ll ask. Once they begin asking questions, if you have something you think they might like and want to point out, this would be the time to do it.

We also recommend having applications ready. If the property checks their boxes, they are ready to get the ball rolling. Make sure you are ready to start the process then.

Remember Safety

Showing up at an unoccupied home with someone you don’t know can be dangerous. Here are a few tips to help you stay safe: 

  • If you feel weird about the phone conversation, take someone with you. 

  • At a minimum, ensure someone knows where you are – check in with them before and after the appointment. 

  • Don’t follow the prospective residents through the home. Near the front door is the safest place to be. 

  • Open the back door before the prospect arrives. That way, you can escape using that door if you need to. 

  • Trust your gut. If something or someone feels off, don’t risk it. 

Once again, showing is selling. Your job is to get the prospective resident to fill out an application. Like getting a prospect from a phone call to show, getting one from showing to the application is the next sales step.

6. Deliver an Enhanced Resident Experience

Your interactions with prospective tenants can make or break a deal. Treat every inquiry with respect and professionalism. Quick responses, a friendly demeanor, and flexibility can go a long way in leaving a positive impression.

Even if someone doesn’t rent from you, their experience might lead them to recommend your property to others which can lead to great residents down the line!

7. Monitor and Adjust Your Strategy

Marketing isn’t one-size-fits-all. If your property isn’t getting traction, analyze your approach:

  • Are your photos engaging enough?

  • Is the price competitive?

  • Are you listing in the right places?

Continuously refine your tactics based on feedback and results. If your property isn’t getting traction despite your efforts, there may be hidden issues to address. This video dives into common reasons why rentals fail to attract tenants and how to fix them.

Final Thoughts: Rental Property Marketing Made Simple

Whether marketing comes naturally to you or the whole process feels daunting, these strategies will equip you with the tools you need to attract quality residents quickly. Focus on creating engaging listings, pricing competitively, and leveraging both online and offline methods. By doing so, you’ll find a great resident and easily keep your property occupied.

Take the first step today—start with an updated property description or a fresh set of photos, and watch your marketing efforts transform! If you want to enlist the help of seasoned property management professionals, consider Evernest. We can help you prepare, list, rent, and manage your rental property with ease.

Find the Evernest team in your area to get started today!

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