Is Digital Marketing Worth it for Rental Properties?

Responsible, paying tenants are the lifeblood of any rental property business. This is why brokers spend a great deal of time and resources attracting the best renters while keeping units occupied. 

Before, agents rely on the good old “for rent” sign and the power of word of mouth, referrals of colleagues and past clients. Now, with the pandemic keeping people from roaming around neighborhoods freely and meeting friends and loved ones, real estate professionals must step up their efforts to woo tenants. The smart ones turn to technology. 

By now, you’re probably not a stranger anymore to digital marketing. But perhaps, you’re not sure whether or not it’s worth using for your rental properties. Well, we’re here to assure you that it can make a huge, positive difference in your practice. Here’s how:

You Can Reach a Wider Pool of Potential Renters

When your rental listing is visible online, anyone who searches for a rental property in your location can be your next tenant. That’s a considerably larger pool of candidates than the ones referred by your contacts. The obvious challenge here is to make sure that your rental property is highly visible. Just because your property is online doesn’t mean you’ll automatically get the eyeballs and leads you want. 

Increasing its visibility is the goal, which is where digital marketing comes in. A huge part of it is using listing platforms, such as Lamudi. Because these online real estate marketplaces show up first on the search engine results page when someone searches for a rental property in a particular location, it’s worth putting yours in these channels.

You Can Respond to Concerns in a Timely Manner

By using online platforms, you can receive inquiries from prospective renters in real-time. Thus, you can respond in a timely manner, giving clients the information they need to consider the property you’re renting out. On Lamudi, property seekers can directly reach out to agents by leaving messages with their name and contact information. 

Aside from the simple, convenient communication process in online channels, you can better nurture client relationships on these platforms. As you get to know their needs more, you’ll be able to offer better advice, perhaps more property suggestions, which they would find fitting for their lifestyles. In other words, it’s easier to build relationships when you’re into digital marketing.

You Can Establish Your Credibility

Today, people begin their search for a rental property by searching online. When they don’t find you on the internet, you’re not just losing the opportunity to do business with them, but also the credibility of your business. Like it or not, being online offers legitimacy. In the same way that people distrust professionals who don’t have a physical office address or mobile number, they’re skeptical about agents who don’t have a profile online.

Apart from the obvious benefit of being able to promote properties, one more benefit to using Lamudi is having an agent profile once you list offerings. You can include the name of your brokerage company if you’re affiliated with one, and this adds an extra layer of credibility to your practice. What’s more, the platform grants a Verified badge to trustworthy agents, again boosting your reputable image online. Renters are more likely to do business with these kinds of professionals.

You Can Show Off the Property Even Remotely

On Lamudi, you can upload photos of the rental unit as part of the listing. This will pique the interest of prospective renters, which will move them one step closer to actually renting the unit. It can also help filter tenant candidates, as the seekers are able to decide if the home, with all its space dimensions and features, fits their lifestyle. In the long run, you save time and energy, dedicating your property showings only to motivated prospects. This way, you increase the chances of sealing the deal and making your vacant rental occupied sooner than later.

That said, invest in high-quality photos when using online channels. Find the best angle that would highlight the best features of the rental unit. Make sure that there are no blurry, poorly-lit images uploaded in your listing. If possible, hire a professional to take the photos. This applies to videos, too. On Lamudi, you can include videos in your listing banner, an excellent opportunity to make a remarkable impression on renters. 

Given all these benefits, digital marketing is worth doing for your rental properties. In a nutshell, it will help you attract the best tenants in the real estate market.

If you’re interested in learning specific digital marketing tactics, join our Lamudi Academy training sessions and follow us on Facebook, Twitter, Instagram, Youtube, and LinkedIn.

Photo via DepositPhotos

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