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3 Foolproof Steps To Market Your Rental Property

By December 21, 2017 April 1st, 2019 No Comments

Finding highly qualified and trustworthy tenants is an age-old challenge for landlords. However, marketing your space will help you attract the type of tenants you want to live there. In this article, we’ll explore some foolproof methods to create a plan to show off your space and reduce vacancy, which puts more money in your pocket. Most importantly, protect yourself and mitigate liability with a comprehensive Delaware Landlord Insurance policy.

Be honest.

Clean the space professionally and take images that show off its condition. If there are some things about the unit that isn’t ideal, don’t shy away from them. For example, if the rental doesn’t have a washer or dryer inside, or it doesn’t have a hookup, be sure to mention this in the ad. You’ll save yourself the time of showing the unit to someone who thinks it’s a deal breaker.

Streamline the process.

If you’re going to market your property online, you need to make the rental application available online. If you don’t have a lot of rentals that you oversee, you might just have the old-fashioned paper trail. But, this isn’t exactly efficient.

Post your listings on social media channels, including all of the pictures and quirks. Ask your friends and neighbors to share the post so that it reaches more people, as well. Then, sign up for a rental collection service such as Cozy to easily collect rent, deposits, and applications.

Expand your reach.

In addition to using social media channels, you can flood the market with your listing to get more traction. The benefits of doing so are as follows, according to Landlordology:

  1. You can schedule “open house” times and not worry about individual showings.
  2. You can better qualify potential tenants.
  3. Likely your property will be rented faster using a combination of many different methods.

When renters have to compete for your listing, you’ll reap the benefits. The most important sources to utilize in this process are:

  • Trulia
  • Facebook
  • Zillow
  • Apartment Guide
  • Postlets
  • Craigslist

In addition, you can utilize current tenants for referrals. Reach out to other trusted landlords, friends and investors to get expand your reach, as well.

As a last resort, or if you want to market a short-term rental, you can advertise your listing on Airbnb or HomeAway. Remember, the people on these sites aren’t looking for long-term living solutions, so it’s best to utilize this resource when looking to fill vacation vacancies.

About IFS Insurance

At IFS Insurance, we specialize in protecting homeowners and renters throughout Delaware, New Jersey, Pennsylvania, and Maryland. Our quality solutions and commitment to excellence has allowed us to serve these states for over 50 years. For more information about our products, we invite you to contact us today at (800) 598-0420.