Seventy-seven percent of the people in the U.S. prefer to rent instead of buying a home.
However, attracting tenants in the St. Louis rental market is complex. You need to create a property that's in demand and competitive with other properties in the area.
Property marketing can be a challenge, but it's not impossible. With the right strategy and tools, you can get your property in front of more potential renters than ever before.
If you are looking for tips to market your rental listing in St. Louis, MO, this short and simple guide is for you.
Know the Market You're In
Your ability to market your property will depend on how well you know the market. Your listing competes with many other properties for the attention of potential renters.
If you don't know what these renters are looking for, it will be hard to find them.
Study rental listings across the city, including your neighborhood. This will help you determine your asking price and your marketing strategy.
Make Necessary Repairs and Improvements
Making rental property repairs and improvements before you list your home is an excellent idea.
While you don't want to spend a fortune on cosmetic upgrades, making these changes can help you get higher rents. They can also increase the likelihood that your property will rent quickly.
Making improvements is a relatively inexpensive way to add value to your property and make it more attractive to renters.
Offer Competitive Incentives
If you want to rent your place quickly, consider offering incentives such as a free month of rent or a gift card.
These incentives can help attract potential renters and make your property more competitive. You can also offer incentives to renters who pay rent on time or sign a longer lease.
This will help you keep your property rented, and it's an excellent way to build good relationships with clients.
Promote Through Multiple Channels
The best way to rent your property quickly is by promoting it through multiple channels.
You can post ads on online rental sites, social media platforms, and more. Contact local businesses and organizations that might help you spread the word about your property.
Be sure to include a description of the property, amenities, and photos.
Stay Flexible and Open to Negotiation
No matter how much you want to rent your property, staying flexible and open to negotiation is vital.
You never know when a tenant will pop up with an offer too good to refuse. You could miss out on a great deal if you're unwilling to bend.
However, if you're open to negotiating, there's no telling how much money your property could bring in.
Property Marketing: Attract the Best Tenants Possible
In a tough market, property marketing can make all the difference.
Ensure your property stands out from the competition and attracts the best possible tenants. To do this, you need to make a solid first impression with your marketing materials.
Property Management Inc. in St. Louis can help you create a marketing plan to attract the right tenants. To learn more about how we can help, contact us today!