As a landlord, your rental property is your business. It's an investment that will give you money each month, but only if you have reliable tenants living on your property. Empty units or irresponsible tenants are going to cost you money. You will have to find reliable, responsible and great tenants to fill your units. Finding the right kind of renter can be difficult if you don't know how to market your apartments
You should be building an email list when you're a landlord or property manager. The list can include current tenants, real estate agents and potential tenants who have emailed you for information. To build an email list, you should have a place to gather names and email addresses for your newsletter. Current tenants like to be informed of changes and given information with emails.
You can use this list throughout the year for announcements of vacancy listings too. Some landlords will offer their current tenants $100 off their rent for referring a tenant who ends up signing a lease. At times, a current tenant might be thinking about moving or upgrading their current situation. You'll want to keep a good tenant in your network if possible.
Pay-per-click advertising or PPC is paid advertising that will direct targeted traffic to your website. For each customer that is brought to your website, you'll pay a fee. You can create an advertisement based on your keywords and target potential tenants who will be directed to your website.
You'll choose the advertising budget that works for your campaign as well as creating an advertisement made to bring in potential tenants. There's no guarantee that every PPC target turn into a successful application, but there's a good chance when you have more traffic.
When it comes to multi-channel marketing, there are few things as effective as display advertising. With PPC, you're setting up an advertisement with no control over where it's placed. When it comes to display ads, you're choosing a relevant location that will attract people you want to your site.
These targeted advertisements can be placed on relevant websites like realtor sites where people are already searching for apartments. It gives you highly interested leads for your vacancies.
Social Media Marketing
Social media can be used as marketing channels
to focus directly on people you'd like to turn into tenants. Whether it's Facebook, Twitter or LinkedIn, you can focus your efforts on reaching certain types of tenants based on a criteria that you choose.
The number of social media users increases each day with millions of people using the platforms for researching businesses, keeping in touch with family and sharing information, news and pictures.
Search Engine Optimization
When you're trying to find a tenant for your vacancies, you'll need to figure out what they're searching for in an apartment. If you live in a populated area with great amenities, that will help with your SEO. If tenants are searching for pools or laundry facilities, make sure your listings include these keywords.
To find out the right keywords for your area, Google Keyword Planner can show you what tenants are typing into their search bars. The best place to start is by the area where the vacancy exists. The keyword planner will give you more suggestions based on that.
The key to finding tenants for your vacancies is to appeal to those tenants that you find valuable. You'll need to learn their interests as well as the surrounding city to write content that will appeal to them. Well-written content is a great draw for a variety of tenants that you're trying to target.
For example, if you want to target business professionals in the Austin area, you'll want to find out what they like. Focus on local events and give them information. You'll be providing this as a good landlord as well as potential landlord for new tenants. If you're wondering how to become a landlord, it starts with providing more than just a space for your tenants to lay their heads at night. When you provide them with more, they'll be grateful.
Online Public Relations
Press releases help to generate interest in your location. If you've done something newsworthy, you can craft a press release that can be sent to a local newspaper.
There are some public relations firms that can help you generate opportunities for a PR buzz within your community. You could also create your own opportunities and invite the local press to cover it. It's one more way to entice people to want to live in your apartments.
A landlord must have good management skills
, but she will also need to understand how to market her vacant units since a vacant apartment is losing her money every single day.
You don't have to take part in all the marketing efforts listed here, but it's a good list for choosing the marketing plan that will work best for your business. Along with managing vacancies, some of these efforts will also help you connect with your current tenants, which might stop them from leaving you with a vacancy at all.
Riya is a freelance writer. She holds a master's degree from Australia Institute of Business & Technology. She is new to investing, she has been learning a lot by reading the personal finance and business blog in her free time. She is currently writing for several companies including Real Estate Academy Australia, a specialised training centre for the real estate industry who provides the up-to-date and relevant Real Estate training.