Computers and the internet have proven to be extremely beneficial for a broad range of businesses in a variety of industries, including real estate and property management. The use of blogs, social media as well as internet listings enable you to post and share valuable information regarding your rental properties. Furthermore, utilizing the internet to advertise your properties helps you build a strong online presence while at the same time establishing you as an authority in your field.
The property owner/investor’s biggest fear is an extended vacancy period and not being able to find a tenant quick enough to fill that vacancy and maintain his or her cash flow.
If you don’t want to keep putting your cash flow at risk, here are 3 reasons for marketing your rental property in blogs, social media platforms, and online listings:
Advertising on the internet is very cost-effective – In some cases it’s even FREE. You have so many options available for advertising your property online. Plus, posting your property listing on social media platforms such as Facebook, Google, Instagram, and Twitter will get you noticed quicker than taking out a newspaper ad.
It provides prospective tenants with direct access to you – When you post your rental property listing over the internet and share it on social media platforms, it gives you a greater chance of engaging prospective, qualified tenants. They can contact you directly without the hassles of using 3rd party communication.
You’ll reach a larger audience of prospective tenants – We’re living in the digital era. So if you’re still relying on print advertising and yard signs, you’re reaching a limited audience. Millennials who are searching for a place to live typically search the internet and social media platforms before viewing any properties.
Naturally, if you partner with a property management company, they will handle the marketing responsibilities for you. Furthermore, they know what advertising is required to attract better quality tenants. Property management companies will use offline and online sources including their own blogs and websites. In addition to these different venues, they will also rely on local area newspapers, the MLS, offline and online mail marketing, yard signs, and so on.
Property management companies also focus on improving tenant retention and shortening vacancy cycles while at the same time protecting your property investment and increasing its market value. Finally, while it may seem financially impractical to hire a property management company in order to generate more cash flow and profits, the return on investment will be well worth it.
Property management companies understand that losing a tenant hurts your bottom line. Unfortunately, it’s unavoidable. The key is to take advantage of all the online marketing sources you can so your property doesn’t sit vacant for a long period of time. Discuss your requirements with a property management company today to get the best services.