As a landlord, you’ll face many obstacles. Finding good tenants, maintaining your property, and making a profit takes time and effort.
When it comes to rental properties, no one wants to have vacancies. One of the most important things you can do as a landlord to avoid extended vacancies is effectively market your available units. A strong marketing campaign will ensure that you grow your business and avoid vacancy issues. Keep reading to learn about the top 5 rental property marketing mistakes Brevard County landlords should avoid.
Pricing Your Rental Unrealistically
Many landlords are tempted to set their rental prices high to maximize their ROI; however, this strategy often doesn’t work in the long term. Setting your rental rate too high limits the pool of potential renters you might be targeting and makes it harder to find highly qualified tenants. It can also cause your rental property to sit empty—causing you to miss out on valuable income. Of course, it’s important to note that setting your rental rate too low is also problematic; therefore, it’s important to identify the optimal market price.
To define the optimal price for your rental, you should do your due diligence and conduct local market research. By comparing similar rentals in the area, you can determine the best rental price for your rental property and set the price accordingly. Accurately pricing your Brevard County rental will ensure you attract reliable tenants while maximizing your profit.
Failing to Create a Property Listing
Creating a comprehensive and engaging property listing is one of the most important steps a landlord makes in their rental property marketing strategy. An effective property listing should include detailed information about the rental property, including; square footage, layout type (for example, single-family, split level), price, neighborhood, and amenities. Failing to create a property profile online can lead to low engagement and more extended vacancy periods.
Low-quality Photos or Videos
When you’re marketing your Brevard County rental property, you want to make sure that you’re using high-quality photos or videos. Although it may seem like taking your own property photographs will help save money, this is often not true in the long run. In fact, low-quality property photography can dissuade potential renters from considering your rental unit.
High-quality photography and professional videography showcase a rental property’s best features and make it stand out from the competition. In today’s online property market, it’s crucial that landlords invest in high-quality visuals to attract potential renters.
Failing to Adapt Search Engine Optimization
Having a positive and effective online presence is crucial if you want to attract potential tenants. Whether due to a lack of knowledge or technological know-how, many landlords fail to optimize their rental property listings for search engines.
To ensure your rental property marketing is effective, landlords must include essential keywords in their property listing title and description. Including keywords can help potential tenants find your listing and ensure it receives the most optimal visibility.
Unorganized Data Management
Having a well-managed system that keeps track of your listings, potential tenants, and current renters is crucial for Brevard County Landlords. Not keeping an accurate and up-to-date data management system can lead to lost leads, duplicate information, missed rent payments, or even renting out your property to unqualified individuals.
Investing in a reliable data management system can ensure that your marketing and rental process run as smoothly and efficiently as possible.
Looking for a faster, easier, and more affordable way to take care of your rental properties? Hire a professional property management company. A licensed Brevard County property manager can save you money by helping you avoid costly mistakes in your rental marketing.
Property Management is a complex business, and the experts at Rent In Brevard Property Management can help. Click here to speak to one of our licensed property managers today.