Indianapolis is projected to be one of the top ten housing markets this year, which may be good news for landlords. If you're a landlord in Indianapolis, it's time to get your property marketing skills up to par so you can stay competitive.
But how do you market a property anyway? What should you do if you've been dealing with vacancies? Let's talk about it.
Read on to learn all about our top four tips for marketing your rental property this year.
1. Invest in Professional Photography
If you're struggling to market your rental property, it may be time to update your rental listing with better photos. Blurry phone photos won't cut it in a competitive rental market.
High-quality photos and virtual tours can showcase your property's features and attract potential tenants. Consider hiring a professional photographer to capture your rental unit in a good light. You can also learn real estate photography tips that will help you take good DIY photos if a photographer isn't in your budget.
2. Highlight Selling Points
In your written rental listing, what do you say about the property? How are you using the listing to attract tenants?
You need to identify and emphasize the unique selling points of your rental property. Is it in a fantastic location? Does it offer unique amenities that other nearby properties lack?
Differentiate your property from competitors to attract attention from potential tenants. If your property doesn't have unique selling points, it may be time to reinvest some money back into it to add more amenities.
3. Get Online
List your property on popular online rental platforms alongside your website (or your property manager's website). These platforms have a wide reach and can help your property gain more visibility among prospective tenants. You want to get your property in front of as many eyes as possible.
On that note, you should also promote your rental property on social media platforms like Facebook. Create visually appealing posts and consider running targeted ads to reach potential quality tenants in your area. You can also join local community groups to share your rental listing.
4. Offer Incentives
Consider offering incentives or special deals to attract tenants. Some landlords will waive application fees or offer first-month rent discounts to new tenants. Some also offer gift cards for local businesses.
These incentives can make your property more appealing to prospective tenants who are on the fence about applying. That extra incentive may be what tips the scale in your favor.
Property Marketing Can Be Tough
Property marketing isn't always easy. There are a lot of property owners competing for the same great tenants, so you need to put the work in and catch their attention! These tips should help you get on the right track.
If you're struggling to market your rental property in Indianapolis, Indiana, PMI Meridian Management can help. We'll help you find and target the best tenants for your property so you can sit back and relax.
Schedule a consult with our team today.
