Investing in real estate can be a great way to make money, but it comes with various challenges.
Regardless of your investment decisions, you can only make money from a rental property if it has tenants. In a tough market, finding quality tenants becomes increasingly difficult. Effective property marketing is vital if you want to maximize your rental income.
Let's go over some key property marketing tips that can help you attract tenants in a tough market in Atlanta.
1. Hire a Professional Photographer
Pictures say a thousand words and quality photographs can make any property significantly more appealing. In a tough market, you'll have a lot of competition and renters will have plenty of properties to choose from. The goal is to make yours look better than others on the market.
A professional photographer can highlight all of the best aspects of a property. When people are scrolling through online listings, they'll be a lot more likely to stop and look at a property that catches their attention.
2. Be Clear and Concise With Descriptions
When writing a description, it's important to include all important details. This can be anything that renters will want to know about the property.
At the same time, you want to keep things concise. If you write too much, people will lose interest and move on to other properties. Make sure you only include essential information.
3. Offer Competitive Rates
The amount you charge can have a huge impact on your ability to find tenants. It's vital that you set a suitable rental price.
If you ask for too much, people won't be interested in renting your property. Conversely, if you set the price too low, it will be easier to attract potential renters, but you won't be maximizing your profits.
Analyze the market in your area to see what other landlords are charging for similar properties. A professional valuation can also help you determine a suitable price.
4. Update the Property
You can make all kinds of upgrades to a rental property to make it more appealing to renters. When people have plenty of options, they're going to take more notice of homes that have stand-out features.
For example, if your property is the only one in the area with an outside deck or a garage, people will be far more likely to take notice of it. Not only will this make it easier to find tenants, but you may also be able to charge more for rent.
5. Include Virtual Tours
Pictures are great, and videos are also ideal. If you want to take things to the next level, however, you can include virtual tours. Users can use VR headsets to explore your properties, giving them a more immersive experience and a clearer view of the property without having to view it in person.
Professional Property Marketing in Atlanta
Implementing these landlord tips and tricks within your property marketing can yield some very positive results. It may not be as simple as it seems, however.
A professional property management company like PMI Perimeter can be a great choice. We offer a full range of services and have over 20 years of experience. Take a look at our property marketing page for more.
