Vacant rentals can cost you more money than you can imagine. As a property investor, you probably have a mortgage you have to pay. A rental property that’s unoccupied for a few months can cost you a whole year’s worth of profit. No investor would ever want that.
Because of this, it’s crucial to leverage a variety of marketing tactics to attract long-term tenants. We’ve put together a long list of creative strategies that you and your property manager can take to attract more tenants. Below, you’ll find some steps you can take to ensure that your South Florida single-family home is rented out year-round.
#1 Post Pictures on Pinterest
Where do people go when they want to be inspired? Pinterest.
Pinterest is the place to get ideas on how to design the home. When people want inspiration for their bedroom, bathroom, etc., all they have to do is to open the app. Pinterest has 91 million users in the United States, which means you have millions of potential tenants to attract. Take advantage of this opportunity by posting photos of your property. Consider hiring a photographer and property management company to set up the space so that it’s “pin-worthy”. You’ll want to post photos that look like they belong in the pages of Country Living.
#2 List on Facebook Marketplace
While only two percent of tenants use Facebook Marketplace to look for rentals, it can attract a specific type of tenant: the casual searcher. There’s a chance that potential tenants will casually come across your listing, or that their peers will come across it and share it with them. Keep in mind that you shouldn’t rely on Facebook Marketplace, but instead, it should supplement your listings on websites like Zillow and Trulia. Be sure to add a “Contact” button to your listing on Facebook Marketplace so prospective tenants can conveniently get in touch.
#3 Take Advantage of Twitter
There are two reasons why Twitter is a powerful tool for property owners.
- Twitter allows you to create polls that can help you tailor your property to people’s preferences. Do people prefer contemporary homes or classic homes? What tiles would they prefer? Would they rather have a patio or a pool? Their responses can give you a general idea of what would attract tenants.
- Local Search. Want to connect with tenants? Twitter’s “Advanced Search” option allows you to narrow down your search to potential tenants from a specific area.
#4 Create a YouTube Channel
Don’t worry, you don’t have to amass a million subscribers. If you’ve invested in multiple properties or condominium communities, you should consider creating a YouTube channel. In doing this, you can direct tenants to your channel so they can conveniently choose among your properties. It’s cheaper than having to schedule in-person showings.
Remember, videos have been proven to be more compelling than pictures. Videos such as virtual showings and do-it-yourself tips can entice potential tenants, as well as strengthen your credibility.
#5 Open the House
By far, the best way to convince tenants to live in the house is by letting them view it. Although showings are set by appointment, you should also give the “casually curious” a chance to see the property. Hence, aside from hosting an open house, you should open the house. Pull the curtains back to allow the casual passerby to check it out. Who knows? Perhaps they know someone who’s looking for a rental property.
Pro Tip: If you decide to host an open house, schedule it an hour earlier than other open houses. That way, you can create a “window” in which you can have everyone to yourself. You should also end your open house an hour later. Don’t forget to hire a cleaning service to ensure the property is spotless!
#6 Put the Word Out
Put the word out about your property — it’s free!
- Email your nearest and dearest. Let your friends and family know that you’re looking for tenants. Be sure to attach stunning photos of the property and basic information such as the rental rate. Chances are that your contacts know someone who’s looking for a rental.
- Get the help of the neighborhood. Your neighbors will probably be willing to help you find a tenant. This is because they’re worried about who will end up being their new neighbor. Basically, they want to protect their best interests.
#7 Promote the Open House on Facebook
Do you want as many people as possible to attend your open house? Promote it with Facebook Events. Through the app, you can invite everyone to your open house, whether in-person or virtual. Simply create a public event with a postcard-worthy cover photo, and promote it on your Facebook page. You can even encourage potential tenants to attend by giving them a giveaway entry for every person they invite. This lets your open house stand out.
#8 Update Your Listings
Are your listings on Apartments.com, Zillow, and Trulia up to date? There’s a chance that things have changed since you posted them a year ago. Update your listings every now and then to avoid misleading potential tenants. For instance, if you recently repainted the home, be sure to state that in your listing. You wouldn’t want a potential tenant to think that your home is white when it’s actually yellow.
#9 Encourage Facebook Check-Ins
Facebook Check-Ins let people “show off” the places they’ve recently visited. So, when you host an open house, encourage people to check in. This sparks other people’s interest in your open house. To sweeten the deal, why don’t you reward their check-ins with coupons and discounts?
#10 Hire a Property Management Company
By partnering with Luxury Property Care, you won’t have to lift a finger. As a full-service property management company, we know the South Florida real estate market. After all, we’ve been serving South Florida for more than a decade. We know what it takes to attract tenants to your property, plus, we can do it within your budget.