In 2015, more and more families choose to forget about the pros and cons of ownership and discover the best deals on the local rental market. As a matter of fact, according to a recent market research report on apartment rentals in the U.S., published by IBISWorld, demand for affordable accommodation options available for rent will stay strong over the next five years, while homeownership rates will remain flat.
The same source indicates that the U.S. rental market triggers total revenues estimated at $165 billion and reflects an annual growth of 4.9%. Do these numbers suggest the fact that renting out an apartment in any American state is a child’s play? Not exactly! The problem is that tenants have become increasingly selective.
How to Market Your Californian Rental in 6 Easy Steps
Due to the fact that they are free to choose from a great variety of rentals matching their budget, lifestyle, taste and other requirements, prospects can now afford to be picker than ever. In this context, how can you find the perfect tenant for your Californian property without setting the bar too low? The answer is simple: work harder to promote your rental in a more effective manner. You don’t have to reduce the rent, make costly improvements or go bankrupt while spending a whopping amount of money on promotional strategies. To find the simplest way to rent out your Californian house or apartment, simply follow the six easy steps listed below.
- Hire a Property Manager. A property management company can offer you a helping hand when it comes to interacting with potential tenants and current ones. Basically, company representatives can take care of all your rental-related questions, necessities and concerns. It’s their job to secure tenants, address their demands, create and implement a maintenance program and deal with repair requests, if needed. Before going any further, get in touch with some of the most reputable property managers in your area and figure out whether or not you need this kind of assistance to improve your experience as a first-time landlord.
- Set in Place a Great Referral Program. Assuming that you have already welcomed one or more tenants on your property, turn this context into a great advantage to market your house or apartment in a more effective and convenient way. Stimulate your current tenants to promote your rental by offering them incentives. Give them a rent deduction or other perks for each and every new tenant that they bring your way. This type of referral program is a convenient, inexpensive method to fill your vacancies, while also consolidating your relationship with the people who are occupying an apartment in your building.
- Explore Both Online and Offline Channels. Newspaper ads and word-of-mouth are fairly effective tactics that you can employ to meet new people who could be interested in renting your house or apartment; however, note that these are just a few channels that you can explore to achieve success as a landlord. To get closer to the desirable results, it is mandatory to go online and publish, manage and edit your listings. Opt for a platform giving you all the tools and client support to market your property rapidly, cheaply and effortlessly. At the same time, you should strive to identify a website enabling you to profit from the highest level of visibility. In other words, to promote a rental on an already overcrowded market, you need a lot of exposure. This is precisely why you should go beyond Craigslist, a platform that is all about heavy traffic and rampant spam, and choose a medium that lets you reach a targeted audience and bring your ad under the nose of thousands of unique visitors who are more likely to respond to your calls-to-action.
- Focus on the Strongest Points of Your Property. If you have already found all the online and offline channels that you can tackle to find new tenants, come up with a series of descriptive words that could make your rental become more desirable. Don’t hesitate to brag about all the positive elements that individualize your property and give it character. If its exact location, recent remodeling work, cool and super expensive appliances, soothing décor, superb patio or luxurious amenities are the factors that define your rental, make sure they are properly highlighted in your listings. Don’t forget to post photos and/or video tours to back your statement and give potential tenants the chance to see the wonders of your property with their own eyes.
- Take the Time to Improve the Curb Appeal of Your Rental Property. Before scheduling meetings with people who are interested in your Californian house or apartment, implement a few minor changes to enhance the curb appeal of your property. Dress up your old door, replace old, rusty hardware with new, shiny and modern alternatives, invest in quality outdoor lighting, and come up with a dynamic setting by investing in an instant, container garden. These beneficial elements will add color and definition to your outdoors, while giving you the chance to add curb appeal on time and on a budget.
- Profit from the Support Offered by a Respectable Apartment Finder. To be honest, finding the perfect tenant takes time, especially if you don’t want to take any chances and wish to follow every single step of the screening process. Next, communicating with potential tenants is equally complicated, considering different schedules, poor communication skills and other factors that could influence your interactions in a negative way. Fortunately, now you can bridge these gaps by using the insight and special tools brought to you by a first-class apartment finder. Apartment Hunterz lets landlords set up an account, post, edit and manage their listings and communicate with prospects in real time. Packing a plethora of useful tools and features, this service is everything you could ever need to market you Californian rental the easy and convenient way.