The perfect tenant is more than someone to pay you rent every month. They are the guardian of your most expensive investment - your property. The best tenants take care of the property, pay you on time, and stay for the long term.
But that dream tenant isn't always easy to find, especially in a big city like Seattle, where they might be spoilt for choice. Read on to learn some helpful property marketing tips to attract the perfect long-term tenant.
Research the Local Market
For effective property marketing in Bellevue, you need to know the local market.
Specifically, you must understand who will most likely want to rent your property. Find out the demographics and what amenities they need from a property.
You should also research details like property prices. It will help you set a competitive rental rate while maintaining a healthy profit.
Keep an eye on these Seattle real estate trends, too. Demographics and demand shift constantly. If you want high occupancy rates, you need to be ready to adapt to the market.
Create a Powerful Property Listing
These days, you need a strong online presence to attract the right renters. That starts with a detailed property listing, which should give the renter plenty of helpful information.
Include videos, high-quality photographs, and a room layout. Use a professional photographer to ensure you get the most flattering images.
You could try a virtual tour, too. It will help you market your property to those who aren't local, perhaps someone moving to Seattle and needing to find somewhere to rent.
Use Social Media
Social media platforms are becoming increasingly popular for real estate investors to market their property.
It helps you reach a wide audience; if you have something quirky or unique about your property, you may receive plenty of likes.
Plus, it's a chance to connect with the real estate community, reaching people who can help you find the right tenant.
Try a Referral Program
Word of mouth is a powerful marketing technique. You can connect with real estate professionals via a referral program. Do that by offering an incentive if they can recommend your property to friends and family.
A referral program can often speed up the time it takes to find a new tenant, and it will help reduce your advertising costs. So it's money well spent, as it could also help improve your occupancy rate.
Collaborate With Other Businesses
Seattle is a hub for business, and plenty of people are looking to promote products or services. You can tap into these efforts by connecting with local businesses.
For example, perhaps you have an excellent local cafe near your property.
You could strike a deal with the owner to offer a discount for your tenants. That will act as a small incentive to people looking to rent. It's also an excellent way for local companies to get more business from new residents.
Property Marketing: An Essential Part of Property Management
You may think marketing is something brands do, yet it's equally important for landlords. Effective property marketing will help you find the right tenant and improve your occupancy rate.
Alternatively, you can reach out to our Brink Property Management team. We can help with your marketing. Find out more about our property marketing service here.