Advertising your investment property correctly and appropriately is absolutely vital when the property becomes vacant. Nowadays, renters have access to multiple online portals when hunting for the perfect rental property. Therefore, it is important to ensure your property is being seen!
Here are some things you can do to ensure your property is reaching those who are on the hunt for a rental property.
Digital media tends to attract active buyers who are specifically looking in a certain area. With a large number of properties going live every day, you need to make sure your property is not missed. It is more important than ever to ensure your property appears on the first two pages of online portals such as realestate.com.au and domain. Here at iThink Property, we list all of our rental properties on these sites as a feature listing. This means the properties that we advertise will remain larger and more prominent than those of our competitors. According to realestate.com.au premiere properties receive an average 20 times more views and 9 times more enquiry than standard listings. If your property has been sitting online for a while now it might be time to chat with your property manager about boosting your listing across these platforms.
Social media is another great tool you can use to advertise your property. At iThink Property, we promote all of our listings across our Facebook and Instagram pages. We have quite a large following across these platforms, giving us the ability to reach more potential tenants.
Property presentation is a major factor that affects the popularity of your investment property. If a property is presented nicely, it will appear more attractive to the rental market.
When thinking about properly presenting your property professional photography is a great place to start! Not only do professional photos show off your properties best features, but they also entice the potential tenant. The property photos are usually the first thing buyers look at when searching. So make sure you have stunning photos to grab their attention.
Another thing to consider is property videos. In recent years we have seen property videos become more popular. They are exciting and different, they also give you an edge over every other property on the market. It is also a great way to reach those potential tenants that cannot make it to scheduled inspection times. We have an in-house marketing team that will work with your property manager to put this together and ensure they are highlighting the key features of your property.
If you are really looking to go the extra mile, you might also want to consider property styling and staging. In recent years this staging has become super popular when selling or renting. Stagers and property stylists have a good eye for how to present a space and make it seem more appealing. It will also help you stand out in the crowd!
At iThink Property, we realise the importance of offering multiple viewing times in order to cater to more tenants. For vacant properties we host two inspections per week, and once per week for those properties that are tenanted. By doing this, we give potential tenants multiple opportunities to attend and view the property.
APPROPRIATELY PRICING YOUR PROPERTY
When putting your property on the rental market it is extremely important to ensure it is priced correctly. One way to gauge what your property is worth is the have a look at what else is on offer in that area and discuss it with your property manager. Your property manager will be able to help you correctly price your property to align with what else is on offer and the timing.
If your property has been sitting on the rental market for a while now, it might be time to have a chat with your property manager and discuss some of the above options to make your property seem more appealing. If you had any questions regarding renting out your investment or you are unhappy with your current management service and would like to chat with a team with a difference, give us a call on 3202 3040.