Are your Vancouver, Washington properties sitting vacant, collecting dust? The higher your vacancy rates rise, the more money you'll lose. Chances are, other real estate owners are attracting those tenants instead.
Here are a few property marketing strategies you can use to find tenants in a tough market. With these tips, you can help your listings stand out from others online. Start boosting your occupancy rate (and rental income) with these tips!
Upgrade the Property
Make your Vancouver property a more desirable place to live. Upgrade the technology to attract and retain tenants. Upgrades technology can help your property stand out from others in Vancouver.
Talk to your current tenants to determine what upgrades they want most. For example, they may request:
- A washer and dryer
- A new dishwasher
- Virtual assistant speakers (Google, Alexa, etc.)
- Programmable lighting and thermostats
- High-speed internet
Look into other home improvements you can use to attract tenants. Here are a few home improvement projects that will offer the highest return on your investment.
Write Honest Descriptions
You won't attract tenants to your properties if your listings are lackluster. After updating the property, hire a professional photographer. High-quality images and videos can help catch a potential renter's eye.
You can use these photos and videos to create virtual tours. Share them on social media, too. Social media marketing can help you reach a broader audience online.
Don't forget to upgrade the listing's description. Provide helpful information, including the:
- Rent rate
- Lease Duration
- Pet Restrictions
- Recent upgrades/new features
- Important Policies
Add a call to action (such as "call today!") to the listing. A compelling call to action will encourage people to take action.
Share Virtual Tours
About 50% of adults rely on virtual tours during their decision-making process. Creating a virtual tour will keep your real estate marketing relevant. If you don't provide people with the content they want, they'll turn elsewhere.
Create an engaging virtual tour to show off the property. Virtual tours will help you weed out applicants. After completing the virtual tour, serious renters will contact you for a tour in person.
Gather Referrals
Ask your current tenants to spread the word about your vacancies. Word-of-mouth marketing will help you find new tenants.
Reward your tenants for their help! Consider offering a discount on their next month's rent as an incentive.
Hire a Property Manager
If you're struggling to develop your real estate marketing strategy alone, hire a property manager. An experienced property management company will know of the most effective strategies.
Their comprehensive services can save you time and money in the future. With their industry expertise, you can avoid high vacancy rates. You can discover the benefits of hiring a property management company here.
Reduce Vacancies With Property Marketing
Neglecting your property marketing strategy could lead to high vacancy rates. Before that happens, use these tips to find tenants. With effective real estate marketing, you can continue generating income from your properties despite a tough market.
Need help finding tenants in Vancouver, Washington? Invest West Management has over 40 years of real estate experience in the area. Contact us today to discover how we can help you secure your rental income with effective marketing.
