How To Make Your Rental Property Stand Out To Renters
When a tenant vacates a property with no prospective tenant secured to move in, it can be a stressful experience for some property owners. Waiting to attract the ‘right’ tenant can result in the property remaining vacant for a period of time, which means there is no rental income to support the weekly investment mortgage. To attract the best possible tenant in the quickest possible time paying the highest possible rent is all in the secret of how to make your rental property stand out.
Times have changed… the majority of tenants are seeking their next rental home online through the major real estate listing websites. Visit any of these sites and you will clearly see that your property will often be competing with tens or hundreds of others.
So how can you get your rental property to stand out?
Unfortunately a well-worded text description is no longer enough. People what to read, touch, feel and see what is being offered.
While at this stage of technological advancements we cannot touch and feel the property through a computer, the visitor does want to see as much as possible to determine if they want to shortlist the property for a viewing.
First impressions count when trying to generate enquiry. There needs to be lots of photos showcasing ‘every room’ of the property. The more photos the better the interest. Rental listings with only a couple of photos are often ignored (for the many others a tenant has to choose from) as they cannot quickly visualise what the property is offering. The photos need to be clear and inviting, showcasing the property. Presentation is paramount. Many of the wow photos are taken by professional photographers, which should not just be embraced for sale properties. Realestate.com.au also reiterates how important to include a floor plan.
And now… there is a new trend in online rental advertising and marketing…
Over the past three years or more we have seen the emergence of video tours. These are short, cost-effective videos where the prospective tenant is able to experience a virtual tour of the property. Market research has already indicated that we spend 75% more time on websites with video; and listings with videos can receive more than 400% more enquiries. *
Marketing your rental property is not just about classified advertising anymore. The focus of advertising and marketing a property is that you want it to be seen and attract enquiry. REIWA suggests that you should be willing to pay a little bit extra to highlight your property on prominent property websites.
All advertising and marketing costs are a tax deduction, including professional photographers and video tours. If you would like to know more about how cost effective it can be to have your property stand out, please feel welcome to contact our property management department on 9388 3988.