How to List Rental Property (and Find Quality Tenants)
Creating effective rental property listings is essential to attracting quality tenants. A property investor may have a great property, but renters won’t be interested if they don’t know how to showcase it. Therefore, property listings are more important than investors might think!
It’s crucial to fill the vacancies quickly but at the same time, filling your properties with the right tenants is essential, too. If you attract low-quality tenants, you may find yourself right back at square one, needing to list the property again. Our property management team has tips to guide you in writing effective property listings and finding excellent renters!
Quick Tips for Quality Rental Property Listings
If you’re wondering about “how to list rental property” in the most effective way, it’s best to have a plan. Property managers recommend the following guidelines to create your next listings.
Develop a Compelling Description
Every listing needs an appealing title. This may be the first thing a prospective tenant sees. If it has the elements they are looking for, they’ll continue to read the rest.
Your title may mention the price, followed by the number of bedrooms and bathrooms. Or you could highlight something stunning about the property to showcase one of its best features. Listing titles should include a few things about the property that intrigue renters to look into the details.
Once you have the title written, work on a concise but descriptive listing that will draw in interested renters. Engage people with compelling, descriptive words highlighting your property’s best points.
However, you also want to be sure not to leave out important property details like the monthly rent amount, security deposit fees, and any special lease rules (such as pet addendums). Finally, don’t forget to give clear directions about how to fill out the application and schedule a showing. You want to be sure a potential tenant can easily find the application and see the property.
Be Transparent
Whether you are describing the property in the listing or the prospective tenant has contacted you on the phone, be sure you are honest in your description and showings. Some owners might be so eager to list the property that they oversell it a bit. However, exaggerating the property’s features or embellishing what it offers can discourage potential renters once they see the property in person.
Use Eye-Catching Photos
Sometimes people looking for a new rental home will glance at the photos to decide if they want to read the description. Unfortunately, if your property photos don’t show well online (or you’ve only included a handful of pictures in your listing), you might not see much interest in the rental unit.
Using professional photos helps your pictures stand out. Listings need clear, vibrant pictures that show the details of the home. In addition, some property owners create a walk-through video of the home, which is an excellent option. These videos allow prospective tenants to get a feel for the place before attending a regular showing.
Charge the Appropriate Amount for Rent
How much should you charge for rent? The wrong rental amount can cause some people to keep looking right past your listing.
If the unit isn’t priced right, you could scare off some tenants, or you could sell yourself short with a rental rate that’s too low. Undercharging or overcharging are both mistakes that can lead to an unhealthy ROI. When you charge too much, people may not be able to afford it or feel it’s not a fair price. However, if you lock into a lease with a price that is too low, you generate less income than you need to operate profitably.
If you have a property management team do a rental market analysis for you, they can help you set the ideal rental rate.
Create an Easy Application Process
A headache-free application process helps you generate more potential candidates for your property. Renters should be able to quickly and effortlessly fill out the necessary forms to apply for the property.
If possible, collect applications online to streamline your review and screening process.
Utilize the Best Rental Listing Sites
Once you have your rental property listings prepared with pictures and an easy application process, you’re ready to put them online so that everyone can see them. The more people that see your listings, the better chance you have of renting your properties quickly.
Use popular listing sites that get a lot of traffic, and consider paid sites to increase the views for your properties. Free listing sites are good, but they don’t often deliver the traffic or quality of renter property owners need.
Create Effective Listings with Help from a Property Management Company
If you feel your rental listings are not attracting enough interest to reduce vacancy times and deliver quality renters, you may need the help of a property manager. Reeder Asset Management has an experienced team to create effective, eye-catching listings that help your rental properties rent faster and with excellent residents! Get in touch with us today for more information about our property management services.
Learn more about what to look for in a property manager! Download a free copy of “Guide to Finding the Best Property Management Company in Northern Utah!”
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Learn how to list rental property and what you need for a listing that delivers excellent tenants! Read tips here from a Salt Lake property management company.