Rental property marketing efforts significantly influence the number of potential tenants you reach. There are several ways to attract tenants, but not all of them will work for your property or target demographics. When it comes to marketing your rental property locally, you need to prioritize finding the right strategies for you to keep your rental business drawing in crowds.
8 Rental Property Marketing Tips for Indianapolis Landlords
Target the Right Prospective Tenants
Know your target tenants and their needs to create effective marketing efforts for your rental listing. For instance, if your property is close to a university, you should craft your listings to appeal to students and young professionals instead of families.
Research the local demographics and learn which amenities attract quality tenants. Rental market analysis can be complex, but you can always employ a property manager. They’ll have the tools and expertise to help you craft a better marketing approach.
Upgrade Your Property
You can do renovations or upgrades to improve the desirability of your rental property. Make sure the design and amenities are up to date to retain current tenants and attract new ones.
In a growing city like Indianapolis, you can’t rest on your laurels. Adding new features like smart technology or community spaces shows that your rental is keeping up with the times and offering more to residents. Additionally, other marketing efforts like taking professional photos are influenced by the appearance of your property.
Create a Detailed Rental Listing
In your listing, highlight the best features of your rental property to showcase what makes you unique. Do keyword research to create appropriate listings that help you attract more attention to your property.
To attract potential tenants locally, be sure to add your specific location as one of your primary keywords to rank high in search engines. For example, you can name your rental listing "2 BR Newly Refurbished Apartment in Indianapolis Proper."
Use High-Quality Photos
Stunning property photos will immediately catch the eye of potential tenants online. You can take the photos yourself or hire a professional photographer. Some property management companies offer marketing services that include high-quality photography and videos.
These in turn can be used for creative marketing ideas like virtual tours, which can boost engagement when you post on rental listing sites. Many property owners invest in professional marketing to streamline the tenant placement process and be as efficient as they can.
Put Up For Rent Signs
Marketing your rental property online can be very effective, but you shouldn’t discount traditional marketing in your area either. While “for rent” signs can't be as detailed as online listing descriptions, you can add the basics and the most important features of the rental unit you're renting out.
You can include the rent price, the number of bedrooms and bathrooms, included amenities, availability, and your contact number. The standard rent sign is around 18 inches wide by 24 inches tall, which is big enough for a passerby to see even in a moving vehicle.
Price Your Rental Right
No matter how good your rental property marketing campaign is, potential tenants will still prefer cheaper options, especially if the competitors offer the same things as you do. That’s why doing a competitive analysis is important. Some of the factors you need to consider are your competitors' rent prices, your target market, and the amenities your rental property can offer.
Fortunately, there are tools to help you achieve this. For example, CRM Properties offers a free rental analysis tool on our website.
Partner with Local Businesses and Professionals
If you do it right, rental property marketing collaborations can be practical and effective. Partner with local real estate agents and businesses to expand your network and attract more tenants. This can be in the form of exclusive deals and promotions for prospective renters and current tenants.
One simple way you can do this is through social media efforts. Some landlords and property managers have hired content creators to record virtual open houses, which can be a smart online marketing strategy considering the popularity of online platforms and the traffic they get from thousands of people daily.
Arrange Open Houses
Another traditional strategy that still works is open houses. This tried and true method helps potential renters appreciate the key features of your rental property more.
Interested parties can ask more about the listing in person such as the nearby amenities, the rental price, unique features, and other factors that can encourage your target audience to rent your units and share its availability through word of mouth.
Where Can I Post My Rental Listings Online?
There are many platforms online that allow you to reach a broader audience and get more quality leads. Some offer free online listings while others require listing or subscription fees. Either way, it's a great way to generate organic traffic with potential clients. Here are some sites or platforms you can explore:
- Zillow (Free and Paid Upgrade)
- Rent.com (Free)
- Apartments.com (Free and Paid Upgrade)
- Trulia (Free)
- Craigslist (Free)
- TurboTenant (Free and Paid Upgrade)
- Facebook Marketplace (Free)
While free software, social media platforms, and sites can be just as effective, other rental sites with paid upgrades can help you create a well-crafted listing and increase exposure to a larger pool. Utilize every feature available to you, such as call-to-action buttons on social media.
How Do I Get Positive Reviews?
Other landlords underestimate the power of positive reviews on listings, but they can help you find the best tenants whether it's through online reviews or word of mouth. It all boils down to good property management such as:
- Responding to tenant concerns
- Maintaining the property
- Conducting repairs promptly
- Keeping up with current rental property trends
- Setting fair rent prices
Ensuring Seamless Operations with a Property Manager
Landlords in Indianapolis have long trusted the help of CRM Properties to keep their businesses running flawlessly. We can help you find the right tenants by marketing your rental property professionally, as well as handling the day-to-day operations to boost profitability.
Our company keeps landlord stress at bay while you earn passive income, and the first step is to contact us. Don't worry, you don't have to commit right away. You can schedule a free consultation to learn more today!