As a buy-to-let property owner, your primary thoughts are how and where can I find good quality tenants. Thanks to the new age of digital technology and marketing, it has never been easier to find tenants. By using the ‘traditional’ marketing methods in combination with online marketing strategies, you will ensure your rental gets noticed.
There are a wide array of channels open to you depending on the amount of time, money, and effort you want to put into marketing your property. The channel you chose will also highly depend on your target market.
In this blog we explore the various options of marketing your rental property and which channel will best suit your needs as a landlord.
1. Word of mouth
The process of acquiring a tenantt by word of mouth can occur in numerous ways. For example, you could inform the tenants from other units that you have an opening and are looking for a new tenant. Additionally, you could speak to your current tenant and ask them to spread the word of the opening or ask them if they know of anyone that would be interested in taking over their lease. Lastly, you could chat to family and friends and inquire if they know of anyone looking to rent.
2. Social media
In today’s environment social media holds an array of useful and nifty functions. You can now advertise your property by simply picking up your smartphone. Based on your target market, there are specific apps that would be extremely useful in the marketing of your property. Facebook marketplace, which opens up your property to a large audience, specifically the younger generations.
3. Newspapers / magazines
While the popularity of newspapers and magazines have changed in recent years, there is still an avid audience. Many newspapers and magazines also have an online presence where you are able to take out ads to market your property. If you aim at finding a tenant from the older generations, this is a great form of marketing.
4. Property management company / estate agent
Real estate agencies and property management companies such as London Shared, often handle the letting process, including marketing, themselves. These companies have experience and expertise in the marketing realm. Hiring a service like this allows you to be completely hands-off and stress-free.
Learn more about our property management services here.
5. Professional websites
Marketing your rental property on an established property website like Zoopla and Rightmove will generate a lot of views. Both these websites, and others like these, have high numbers of visitors, so if you are trying to lease out your property you are bound to find your target market here. The chances of getting your property let on these channels depends on the price you’re letting at, the quality of your photos, the details in your listing and a whole host of other factors.
If you’re going to advertise on these channels you should put the effort into making a listing that really stands out as these are popular sites with a large number of postings.