Whether you have a full and varied portfolio of houses and flats or a single rental property, it’s important that you have the tools in place to enable you to generate interest from tenants as and when you need to. In order to minimise any period between tenancies and provide you with a continuous income of rent, there are a number of approaches you can take to successfully marketing your property.
There are a number of different approaches to marketing a property, whether you prefer to take care of matters yourself or to call in a little outside help. Here are just a few of the methods that you could explore before embarking on the best marketing campaign for you.
Social media sites provide a fantastic platform for businesses to market their services at very little cost. Setting up a profile on sites such as Twitter, Facebook, Google+ and Pinterest is completely free, so the only compulsory investment is in the time it takes to keep them updated with your latest news and a selection of interesting snippets from around the web. Social media allows you to tap into the heart of your target market and to make a valuable connection with potential new tenants. To really give your Facebook profile a boost, consider running a targeted marketing campaign with Facebook ads, and generate interest with a competition.
The majority of modern renters begin their property search online, so if you manage a portfolio of properties and prefer to keep everything under your own control then you should give serious consideration to a website of your own. Unless you’re confident that you know your way around web design it’s well worth hiring a professional to build your site for you. Explain to them that you want to be able to manage the content yourself, so that you can make changes and keep it up to date without the need for any on-going fees.
If the idea of managing your own website is a little overwhelming, you may decide that you’d prefer to hand over the reins to a letting agent. Using a reputable estate agent will of course cost you a percentage of your income each month, but it will also mean that your property is listed on a good quality, high-ranking website that is browsed by tenants every day. Estate agents spend a great deal of money on their own marketing campaigns to ensure that the public has confidence in their services, and there’s no reason you shouldn’t piggy back on this success.
Open House Events
If you’re attracting viewings that are spread out over the day it can be a time consuming and frustrating experience. By arranging an open house viewing event you can give access to multiple tenants at the same time, as well as demonstrating the fact that your property is highly desirable and potentially leaving room for a bidding process from interested parties. If you’re worried that an open even may backfire if you don’t have enough visitors, ask a few friends and family to look round during your first event to give a safety net while you gauge the level of interest.
This post was written by the team at CIA Insurance, who have lots of tips and advice to share with landlords. They also specialise in providing landlord insurance that is carefully tailored to meet the specific needs of managing a let property.