According to the most recent data, just under one-half of North Carolina renters struggle to afford their monthly rent. The knock-on effect of these kinds of conditions is that property owners also find filling vacancies difficult.
Fixing this problem is not always as simple as asking for less rent. Property owners often have mortgages and other expenses they also need to cover. So what can be done instead?
The solution is to use property marketing strategies with greater reach or effectiveness. Learn more about effective marketing strategies in this quick guide.
Make the Listing Stand Out
When a larger pool of lessors competes for a smaller pool of lessees, standing out will be your ally in marketing. The first thing you want to master is giving potential tenants all the information they want without cluttering your listing. Explain your property's features and strengths fully, using as few words as possible, and post many photos.
The second stand-out tactic is to keep the property up to date. The decor does not always need to be modern, but having well-functioning, modern fixtures will beat some of the competition. You can also go the extra mile by adding a few "nice-to-haves" if you have the budget.
Use Virtual Tours and Professional Photos
Using eye-catching visuals will make your rental property advertising pop in ways that commonplace photography can't always emulate. Getting a professional photographer or even a skilled and dedicated amateur will give you images that will impress future tenants. Experienced photographers can make the most of the listing's lighting and staging to create great representations of your property.
You can take this to the next level by recording a virtual tour. This can be done as a video or in a dedicated virtual real estate tour format.
Leverage Targeted Marketing
Much of the modern property management game has been changed by emergent real estate technologies and tech-based services. In the marketing sphere, technology has made it possible to target a particular audience.
One way you could do this is by advertising on social media. However, that has the drawback of attracting a lot of spam to your personal inbox. Advertising on an online forum for accommodation seekers is the better alternative.
You can also gain a broad reach in digital marketing and save time by partnering with a property management firm. A company with tenant placement services can let you quickly break into the Burlington, NC, rental market.
Win With Your Property Marketing Campaign
If you want to generate more interest from prospective tenants, then a solid property marketing campaign is the way. You can put a great campaign together by implementing a few simple strategies.
First, you want the listing to stand out and stick in the market's mind. You can do this by making unique improvements, using an informative advertisement, and using professional photos and videos in the advertising. You can then get these adverts to the right people with targeted digital marketing.
Legacy PM can help maximize your property marketing success. We bring thirty years of experience to your property management needs. Contact us today for the best marketing and property management in Burlington.