Are you struggling to find renters for your Auburn Hills investment properties? You're not alone.
During the first quarter of 2022, the rental vacancy rate was 5.8%-higher than the historical low of 5.0%. If you've noticed an increase in vacancies, you need to market your listings.
With a strong property marketing strategy, you can attract and nurture tenant leads. Read on to start marketing your rental property today!
1. Adjust Your Pricing
First, review the rental prices you've posted online. If the price is too high, tenants will move on to other listings.
Start researching other rental properties in Auburn Hills. Market research can help you set a competitive price.
Consider what amenities similar units are offering and how they compare to yours. If you're struggling to adjust prices, consider working with a property management company. They can help you set competitive prices while ensuring you attract tenants.
2. Word-of-Mouth Marketing
Your existing renters can help attract potential leads to your online property listings.
Use word-of-mouth marketing to gain more visibility. Incentivize tenants by offering a gift card or small rent relief as a form of commission.
Otherwise, start sharing more tenant reviews online. Video testimonials can show future tenants that locals already love your properties! Future tenants might feel more inclined to schedule a tour after watching the video.
3. Create Paid Ads
Paid advertisements generate a 200% return on investment rate. Pay-per-click (PPC) ads also generate twice as many website visitors as organic listings. Creating PPC ads online can help you generate:
- Brand awareness
- Website traffic
- Tenant leads
Create both text and display ads using platforms like Google and Facebook Ads. Using Google Ads, create visual remarketing ads. These ads will appear in front of people who visited your property's website in the past.
You could gain a second chance to gain a tenant lead!
If you need help, partner with a property management company that offers marketing services. With their expertise, you can gain online advertising exposure on platforms like Trulia and Zillow.
4. Highlight Features
Give people a reason to fall in love with your investment properties. Show off the property's best features, such as your:
- State-of-the-art gym
- Pet-friendly units
- Nearby stores
- Pool
Provide detailed information about each unit. Highlighting the features you can offer will set your property apart from others in Auburn Hills.
5. Leverage Social Media
Market your online property listings on social media to gain visibility. For example, you can share a virtual tour on YouTube. Show off photos of your listings using Facebook and Instagram.
Consider a professional photographer. High-quality images will help your property stand out online.
End each post with a call to action encouraging people to schedule a tour. Use compelling, urgent language to generate more leads. Provide a link to your website to make converting more convenient!
Use These Property Marketing Tips Today
A strong property marketing strategy can help you attract tenants in Auburn Hills with ease. Use these five strategies to find renters online. Keep making adjustments to attract even more tenants over time.
You don't have to market your investment properties alone, though. We can help!
Contact us today to learn more.
