As much as we’d all love to have tenants knocking down our doors, clamoring for that next vacant unit, that’s very rarely the reality.
The truth is, if you want to minimize vacancies and keep those rentals full, you’re going to have to work for it -- and probably advertise, too.
What exactly should you put in that ad and how can you ensure it reaches the types of tenants you’re seeking? These tips can help.
Start with a killer headline
Forget boring headlines like "3BR, 2 BATH CONDO” or “DUPLEX FOR RENT $1,100." While those certainly have some important details, they don’t do much to catch the average person’s eye.
Instead, use the headline to focus on what makes your property different, like its views, location, or amenities. Here are a few good examples:
- 2BR DOWNTOWN LOFT WITH PRIVATE GYM.
- 3/2 DUPLEX, JUST RENOVATED.
- SPACIOUS 4BR -- APPLIANCES INCLUDED.
- 2/1 APARTMENT, 5 MINS FROM PENN STATE.
Include some sort of benefit that your rental offers -- a specific property feature, its proximity to a local landmark, or something that’s in high demand for tenants. This will help you stand out from other properties in the area.
Cover all the details
As much as you want to find a tenant, you also don’t want to be fielding hundreds of phone calls or vetting people who just aren’t going to cut it, so make sure you’re as detailed as possible when writing your ad. Cover the rent, security deposit, size of the property, number of beds/baths, location, parking situation, and amenities. You should also include details on your pet policy if there’s room.
Hype up your amenities
Don’t be shy about your property’s amenities. What comes with your individual unit? Are there included appliances, a balcony, or a fireplace? Be sure to cover building and neighborhood amenities, too, like a gym, pool, playground, or even just a parking lot. These features are what will set your unit apart from others on the market, and it’s critical you include them in your advertising or marketing efforts.
You don’t want to be too flowery with your language, but make sure to include some descriptive adjectives whenever possible. Rather than just "large yard,” how about take it further and say “lush and spacious backyard?” Or instead of “new flooring,” try "upgraded marble tile." You want to paint a picture for prospective tenants, not just talk bare bones.
One last step
Once you have your ad written (or at least think you do), get a second pair of eyes on it. Ask your business partner or even just a friend to look it over. Are there any typos? Did you leave anything out? Is anything confusing? Make any necessary revisions, and you’re good to go.
Don’t forget tenant screening
Remember: Finding prospective tenants is only half the battle. You also need to vet them and make sure they’re a good fit for your property. So before you start advertising, take time to hone your tenant screening process. You’ll want to be ready once those applications start rolling in.