Renting a property nowadays is difficult since the availability is plentiful and prospective tenants are more demanding than ever.
Furthermore, the development of the internet and social media has accelerated and digitalized the process of looking for a rental home.
Previously, an ad in the newspaper was sufficient, and property owners often chose tenants.
Today’s reality is very different. Because tenants’ expectations for property investment have changed and multiplied, as well as because competition has increased and an informal “war” for the greatest presentation of property investment is taking place on the internet.
What is clear is that if you want to rent out your property quickly, you will need to invest a little more (time, money, and energy) in producing the ad.
Consider it from the renters’ perspective.
The best tip anyone can give you for creating an ad that will rapidly draw interest is to see it through the eyes of the tenants.
Your opinion may differ because you are familiar with the property, and you may have even stayed there.
A third party looking for a new rental property, on the other hand, is unaware of the specifics of your home. So make your ad as descriptive as possible.
It is certainly preferable to supply more data (even if some may consider them overly specific) than to provide little information to allow interested parties to make a first appraisal of your property. Do not hesitate to ask for all the necessary information that is useful to you, such as real check stubs of the potential tenant.
Consider the process that prospective renters are currently going through and make each step as simple as possible for them: searching for homes on an online classifieds platform, quickly reviewing the basics of homes, selecting homes for more detailed reading, contacting the owners (or real estate agencies) for a visit and on-site evaluation of the houses.
The easier it is to perform the above, the more likely it is that you will be able to rent it quickly and find trustworthy tenants.
5 strategies for increasing the likelihood of your property being rented quickly
If you follow the five guidelines below, you will be able to distinguish yourself from the competition and stand out from the thousands of adverts that are currently circulating online.
1. MAKE A LIST OF THE PROS AND CONS OF THE PROPERTY.
Whether you’ve lived in the property before or recently bought it, an honest assessment of its merits and cons will help you write a decent listing description. First and foremost, convey the positive aspects of the house as honestly as possible (and without exaggeration), such as the comfort of the rooms, how bright they are, if it has a nice view and where, and how large the balcony is. You won’t show the negatives of the house as much as the positives, but honesty and openness always win. Furthermore, during a site visit, they will be seen quickly, perhaps disappointing the interested parties.
2. BE DETAILED IN YOUR LISTING
After you’ve created your listing, it’s time to describe it in the listing text. Begin with the fundamentals and work your way up to detailing specific areas of the house. It is preferable to explain each area as realistically as possible, stressing its benefits. It is critical not to “inflate” the property’s features in order to attract tenants. The secret to success is to have realistic expectations. For example, if the view from the property is wonderful but you have to go to the corner of the balcony and bend down to see the sea, avoid writing “great sea view.”
3. INVEST IN QUALITY IMAGES
If the two above are significant, images are the most important. People are trained to be visual types in this day and age. When there are photos, we judge better, and the better the photos, the easier it is to appraise a property and get started. To put it another way, interested parties will just pass by if there are no or few images. No one wants to waste their time investing in properties for which they have not seen any images in the advertisement.The traditional approach of concealment and exaggerated descriptions no longer works, and no one wants to invest time, money, and energy traveling to visit a property management about which they know little or nothing. Make sure the images are of good quality, taken with a good mobile phone or, preferably, a professional camera, that the lighting is good (best to shoot on a sunny day with the curtains, if any, open), and that the property is closed and neat (if it has furniture in it).
4. SHOW YOUR AD AS MUCH AS POSSIBLE.
The first and most important stage is to produce a well-structured, tidy, and realistic photo ad. But the second step, and possibly the most crucial in terms of the bottom line, is to show your ad to as many people as possible. Don’t rely on just one online ad platform; instead, post your ad to all of the big and popular sites to maximize visibility and reach. Use social media as well. Share your ad using your personal accounts. Some of your or their contacts may be interested, so forward it on to them. It is preferable to rent the property to someone in your extended network rather than a complete stranger. There are also dedicated real estate groups and forums, so publishing your ad there will give you additional exposure.
5. BE READY FOR THE “DIFFICULT” QUESTIONS
When the initial phone calls from interested parties arrive, you should be prepared to address their queries. If they phone you at an inconvenient time and you are unable to respond, respectfully request that they call you back at a later time (and do it at that time). Create trust and positive relationships from the outset. At this point, you will learn how well you performed and whether you were honest and open in your ad description, as you will not be in a position to “cover” any exaggerations you may have made. Be prepared to approach the negative elements of the house diplomatically but without misleading people. For instance, if the balcony is too small, you might accept it while emphasizing that there is more usable space inside the house. Almost any negative may be turned into a positive. In any case, be truthful because any dishonest response will place you in an even worse situation when they come to see the property in person.
Remember that with advertisements, you must set the correct expectations so that there are no unpleasant surprises from interested individuals throughout the site visit.
