Ticker Banner

Saturday, July 6, 2019

5 Methods to Market Your Rental Property

Being a Real Estate Investor is similar to being a Dividend Growth Investor, but instead of investing in stocks for dividend, a real estate investor hopes to gain rental income (which can be considered as dividend) and also capital appreciation to the property. I know this blog focus in Dividend Stock, however since real estate is related to having asset that produce passive income which has a similarity to dividend stock, so I decide to write an article about this topic. Besides this blog focuses on anything that has wealth management and finance content related. So anyways, let me talk about being a Real Estate Investor. Being a real estate investor can be quite similar as well as different to dividend stock investor. Unlike dividend investor, a real estate investor has tougher time to liquidate his property during the economic downturn. It is tougher when your property is vacant, for there is no more income coming in. It can be a burden to upkeep expenses such as tax, property insurance and maintenance fee without the rental revenue coming in. But that doesn’t mean being a real estate investor is unacceptable. My dad is considered a real estate investor since he invests in lands and properties. He is skeptical with stock investing however the technique he uses to invest in properties is similar to a stock value investor which is acquiring properties that are undervalued. He has done really well when he invested and managed to acquire a portfolio of properties. Just like my dad, my brother is also a property investor. He has a few real estates that he rents out for passive income just like how I receive dividend from my dividend growth stock portfolio. However, being a real estate investor requires some techniques to have the properties always rented out. I learn a few techniques he uses to market his rental properties, and I’m here to share the methods to market your rental property.

1. Timing is Crucial
As a real estate investor, you should have a mutual agreement with your current tenant that he or she will give notice at least one month before he decide to leave. So you have time to advertise and market your rental property. So, things should be planned ahead. Real estate investor often made a mistake of marketing their income property for rent after their tenants left. This is a mistake. My brother fell to this problem before and has had one of his rental apartments vacant due to not finding a tenant on time. It requires time to find a new tenant for your rental property. So always market your rental property in advance. This reason gives you plenty of time to find a new tenant. In addition, if you want to show your new renters the property, let your current tenant know beforehand so that he/she is able to let them view the place.


2. The Use of Billboard Sign 
Even though the internet is becoming an important role in the advertising world, an old fashioned way of placing a physical sign is still important in the world of real estate marketing. People still like to drive around and read signs when they are searching for a place. For example, my dad was able to rent his unused factory by placing a big sign showing that the factory was for rent. Surprisingly, people do call after seeing the sign and had the factory rented out in no time. This is because some people still do drive around to search for places in the location they like. Spend some money on high quality signs that are attractive and make sure the sign looks professional and visible from the street. It should contain key rental property details. Making the sign look professional gives the impression that you are serious in renting out your property. Besides people don’t want to see sloppy sign with unprofessional writing. Be sure that they are well kept, informative and friendly to be seen. In addition, making sure that the sign is visible from the street is important. You can make the sign eye catching by placing attractive lighting, that way there’s no way a person will not take a look at the sign. Last but not least, remember to put your contact number. Be ready with all other information when the prospective renters call to inquire information about the size of the property and other information such as how many bedrooms, bathrooms, and other important details etc.


3. Go Online and Use Social Media
The internet and the online resources are available for land lords to utilize their marketing of their rental property. There are many websites roaming online that let users dedicated to post or search for property for rent or sale. It’s up to you to figure out which one is suitable for you. Since I live in Indonesia, my country uses real estate hosting websites that are frequently used by the people here.  However, in the United States people usually use websites such as www.craigslist.org to post or search for rental property. People find great success in interacting between landlords and tenants using these online resources. For example, I had use Facebook to create a post regarding a rental property my parents own in San Francisco. I was able to find mutual friends who were interested in checking the available rental property. Facebook is currently one of the most useful social media platform however there are plenty others out there such as Instagram or Twitter. So in my opinion use all online resources you are able to use so that you can increase your likelihood of getting your rented property rented out.


4. Pictures Worth a Thousand Word
They say “a picture is worth a thousand words”. A single picture conveys so much meaning and essence more effectively than a description does. Before they read anything about the property, people tend to see the pictures available in the posting first. Pictures are really crucial in times to promote your rental property. Well-done photographs can help your rental property stand out and make the web listing look interesting. However, professional photography can be very costly. This is the reason why I want to introduce you readers to a program that can solve this matter. My brother and one of his longtime friends from Singapore have developed a web program that can enhance your rental property pictures. This web program is called Panopedia. This program enables you to start building 360 degree Panatour pictures of your rental properties in less than 5 minutes. So what I mean is that a potential client can see a 3D virtual reality of the property without even going to the location, which can save time for both parties. In addition, professional real estate agents have also used this program for marketing their inventories of real estate and they were so pleased that a wonderful program like this exists. It has helped them not to waste time with clients who want to visit the properties for the heck of it since the program provide showcase of all properties at anytime and anywhere. It’s like having a 24 hour open house for all their properties listed. Moreover, the quality image that Panopedia provides is so incredible that it feels like as if you are in the location itself. You should check out the link I have provided to check it out and try it out for FREE. Trust me, you won’t regret it besides it’s free to try it out, you have nothing to lose.


5. Open House
By far, the most convincing way to get clients to check out your rental properties is to have an open house to let them see the property for themselves. I know this could be inconvenience for the tenants, however a potential renter would still prefer see the property for itself. So if you have available time, you should schedule time where anyone can take a look at the place for themselves. For example, you can host a social event at the house, that way you can have more people to come over which increases the potential of having the property rented out.


Summary
The most important thing of having your rental property rented is to always remember marketing your property for renting should be as important as any other step of the rental process. It consumes times and effort, however a solid marketing plan will help you fill your rental property quicker. Remember you will always want your rental property to be filled quickly so that you can receive rental income just like how I receive dividend from my portfolio. That way, you can use the money received to be reinvested in income producing assets and compound your overall wealth. I hope the marketing methods would help you readers on how to market your rental properties.  

43 comments:

  1. It's right. Be ready with all other information when the prospective renters call to inquire information about the size of the property and other information such as how many bedrooms, bathrooms, and other important details etc...thanks for helpful share!

    ReplyDelete
    Replies
    1. Hey Alice, thank for visiting my blog and taking your time to read my article. I will try my best to write more quality content articles for readers to read.

      Delete
  2. Excellent article. Very interesting to read. I really love to read such a nice article. Thanks! keep rocking.
    sdjsa.org
    flipthyhouse.com

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  3. Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  4. It's a decent post, Which you have shared here about Digital Magic Productions. Your blog is enlightening and I truly loved the manner in which you communicated your perspectives in this post. Thank you for sharing such blogs. Property Rental Service

    ReplyDelete
  5. Great job for publishing such a nice article. Your article isn’t only useful but it is additionally really informative. Thank you because you have been willing to share information with us. Rental Property in Charlottesville VA

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  6. I've analyzed a few the articles on your site now, and I really like your style. You're incredible, and please keep up the persuading work. vancouver property management company

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  7. Usually I never comment on blogs but your article is so convincing that I never stop myself to say something about it. You’re doing a great job. Keep it up. belize development properties

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  8. I'm really inspired together with your writing skills and also with the layout for your weblog. Thanks for sharing this blog here. Rental Property Manager Charlottesville

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  9. This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value of providing a quality resource for free. apartments for rent

    ReplyDelete
  10. Thanks for sharing this article here about the BRACES. Your article is very informative and I will share it with my other friends as the information is really very useful. Keep sharing your excellent work. Real Estate Broker Atlanta

    ReplyDelete
  11. This normally includes recording the inside and outside with quality photographs, offering proposals on fixes and restorative upgrades that will improve ROI, exploring comparables and their present rental rates, and examining with the proprietors the upsides and downsides of various strategies and limitations on the property. Homes for Sale in Dallas, TX

    ReplyDelete
  12. I really appreciate your work. I am very impressed by this post. I would like to suggest you that please keep sharing such type of info. Thanks...Short Term Property Rental

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  13. The article was up to the point and described the information very effectively. Thanks to blog author for sharing an informative post. Real Estate Valuation Dubai

    ReplyDelete
  14. I read your post and got it quite informative. I couldn't find any knowledge on this matter prior to. I would like to thanks for sharing this article here.stanford homes for sale

    ReplyDelete
  15. It is a proficient article that you have shared here about rental property. I got some unique and valuable information from your article. Thankful to you for sharing this article here.malaysia property

    ReplyDelete
  16. Your blog had very good knowledge and that gives huge instructions and that was really commendable ideas you have good knowledge on this topic please share more information with us. 2 bhk flat in in kolad

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  17. Truly, this article is really one of the very best in the history of articles. I am a antique ’Article’ collector and I sometimes read some new articles if I find them interesting. And I found this one pretty fascinating and it should go into my collection. Very good work! hausverwalter duisburg

    ReplyDelete
  18. hi was just seeing if you minded a comment. i like your website and the thme you picked is super. I will be back. property loans

    ReplyDelete
  19. Thanks for publishing such great information. You are doing such a great job. This information is very helpful for everyone. Keep it up. Thanks. Real estate broker in North Vancouver

    ReplyDelete
  20. This is excellent information which is shared by you. This information is meaningful and magnificent for us to increase our knowledge about it. Keep sharing this kind of information. Thank you. Deep Cove Top Realtor

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  21. Your blog is very valuable which you have shared here about JadeCaps I appreciate your efforts which you have put into this article and also it is a gainful article for us. Thank you for sharing this article here.

    ReplyDelete
  22. You have done a good job by publishing this article. I appreciate your efforts which you have put into this article, It is a beneficial article for us. Thanks for sharing such informative thoughts. Vancouver property management

    ReplyDelete
  23. It's a nice article, Which you have shared here about the Industrial Valuation. Your article is very informative and I really liked the way you expressed your views in this post. Thank you.Heavy Machinery Valuation

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  24. Very well written article. It was an awesome article to read. Complete rich content and fully informative. I totally Loved it. Read more info about Port Alberni Real Estate Agent

    ReplyDelete
    Replies
    1. Thanks for taking your time to read my blog. I really appreciate it. follow my Instagram @hansen_bun =)

      Delete
  25. I will share it with my other friends as the information is really very useful. Keep sharing your excellent work. Read more info about realtor website canada

    ReplyDelete
  26. Very well written article. It was an awesome article to read. Complete rich content and fully informative. I totally Loved it. Read more info about Sardis Townhouses For Sale

    ReplyDelete
  27. I will share it with my other friends as the information is really very useful. Keep sharing your excellent work. Read more info about Nyc Broker Head Shots

    ReplyDelete
  28. This comment has been removed by the author.

    ReplyDelete
  29. I am very proud to say that your blog has had such useful information about Rental Property and acceptable content. A knowledgeable blog you have shared. For Sale House Delta.Please keep sharing.

    ReplyDelete
  30. You have provided valuable data for us. It is great and informative for everyone. Keep posting always. I am very thankful to you. Read more info about Apartments for Sale in Basin Express Istanbul

    ReplyDelete