According to US Census Bureau data, the rental vacancy rate in the US is 6.6%. Allowing your LA rental properties to remain vacant will cost you thousands in potential earnings. Instead, improve your property marketing strategy to reach ideal tenants in today's tough market.
Not sure how to generate leads from a property promotion strategy? We have you covered! Read on for our tips on effective marketing for landlords to improve your occupancy rate and ROI.
Know Your Ideal Tenants
Before applying the rest of these real estate marketing tips, research the rental market and identify your ideal tenants. Segment your target audience based on:
- Age
- Gender
- Location/neighborhood
- Income
- Education
- Interests
- Hobbies
- Pain points
- Buying behaviors
- Online behaviors
Creating different tenant personas will ensure you create personalized marketing campaigns. You'll have an easier time appealing to tenants on a personal level, leading to more applications.
Gather keyword research to determine what terms your ideal tenants use during online searches. You can use these keywords within your content to reach tenants online.
Upgrade the Property
As you gather market research, compare your properties to others in Los Angeles. What upgrades will help your property stand apart? Consider:
- New countertops
- Fresh paint
- New cabinets
- New light fixtures
- Improved curb appeal
- Smart home technology
- Upgrades appliances
- New floors
Improving the property will ensure it makes a strong first impression on potential tenants. Keep up with property maintenance by scheduling routine inspections. You can outsource this task to a property management company to ensure your property remains in good shape.
Before creating property promotion materials, hire a real estate photographer. High-quality images and video tours will help your campaigns stand out.
Digital Marketing for Landlords
Use digital marketing for landlords to reach potential tenants. Effective online marketing strategies include:
- Paid advertising (Google Ads and Facebook Ads)
- Search engine optimization (SEO)
- Social media marketing
- Video marketing
- Email marketing
SEO will ensure your online listings and marketing materials appear as Los Angeles renters search for available properties. You can appeal to their existing interest to generate more applications.
Use your new photos to create display ads on Google and Facebook Ads. When a potential tenant clicks on the image, they'll discover your online listing.
Make adjustments to these campaigns over time. Optimizing campaigns based on data and trends can improve your ROI.
Outsource Your Real Estate Marketing
Instead of applying these real estate marketing tips alone, outsource to a full-service property management company. Their services may include:
- Tenants screening
- Real estate marketing
- Inspections and maintenance
- Financial management
Their services will ensure you operate more efficiently. With their help, you can find ideal tenants, improve your occupancy rate, and generate lease renewals. Increasing renewals will save you time and money otherwise spent on marketing and tenants screening.
Enhance Your Property Marketing Plan
Developing an effective property marketing plan can take time. Instead, outsource to a full-service property management company like PMI County Line.
We'll provide you with real time access to how your properties perform. Trust our professional commitment to accuracy, integrity, and honesty.
Ready to maximize your earning potential? Contact us now for a free rental analysis.
