Rental Property Real Estate Investing In Florida: How To Market Your Home For Rent
Maybe you’re moving to one of your other properties or planning a long vacation overseas. If you hate the idea of your house sitting abandoned and could benefit from making a little money on your property, renting your home may be a good idea. Renting out your home instead of selling it can be a good investment. In Florida, leasing out a home has become more popular than selling one’s property.
To make the most out of renting out your home in Florida, here are some marketing tips you can use:
#1. Use Rental Listing Sites
When just getting started in real estate investment, you need the right coaching to know the basics. There are a plethora of online resources available to do this, like real estate directory training. Training websites and courses will inform you about the importance of listing sites that allow you to reach out to more customers. However, there are things you need to consider when using listing sites, such as the following:
- Understand the fee structure that various listing sites impose. Some offer annual subscription while others use percentage fees from bookings made on their website.
- Use different rental listing sites based on how long you’d like to rent out your home. Long-term rentals are good on Craigslist while short-term rentals can be best listed on HomeAway.
- Using a lot of listing sites can be time-consuming because you’ll have to manage them separately, so it is best to select the best listing site — or two — for you.
#2. Be Accurate in Your Description
Nowadays, people commonly use apps and rental sites to look out for places to stay instead of personally visiting every place they intend to rent. Therefore, transparency is a must when it comes to describing your rental. The more specific and descriptive you are, the more likely that people will trust and rent your home.
However, if your description is not accurate with the real experience they will encounter, you will gain bad reviews and may lose potential customers.
Here are tips to attract customers using your rental listing description:
- Write an original description instead of using common phrases. Talk about what your home has to offer — be creative but think about what potential renters might be looking for. If you have a sun-filled kitchen that’s perfect for that morning cup of coffee or a relaxing bathroom with a sunken jacuzzi write about them! Highlight favorite features of the area too, like neighborhood bars or nearby restaurants.
- Paint a picture in your prospect’s mind by choosing words like a “spacious living room overlooking the ocean” instead of “large family room.”
- Add how maintenance and cleaning will be handled — whether tenants are expected to fix or clean things, or if you have a contractor.
#3. Take Professional Photos
Photographs are vital to entice home lookers further and create a proof for your description. The photos should show how spacious or how grand your home is. However, a standard photo is not enough to encourage customers to rent your home. While you may be a master at taking great photos by phone, you may want to consider using pictures that are taken professionally to create a good impression.
If you’re going the DIY route, here are some tips to take professional photos:
- Use composite lighting techniques to show off your room’s interior design and views.
- Use wider shots to make your prospective renter see the view of what they’re seeing.
- Shoot several pictures from different angles of the same room.
- Use the natural light but be wary of the glare as it could wash out your room.
#4. Consider the Interior Design
To increase your rental rates, you also need to establish a timeless interior design. When decorating your rental home, you should forget what your style is. Instead, choose a design that is in with the current rental market.
To make your rental rentable, you can follow these tips when designing:
- Use neutral-colored wood slabs for stairways, shelves, and cabinets to add a timeless class to your rental.
- Keep your design simple but in style. Take a look at some home decoration magazines or online portfolios to find ways to decorate your rental.
- Storage space is an essential factor when rentina a place, so consider installing shelves along bare walls — especially in the kitchen.
- Colors must be neutral to avoid losing potential customers. You may love bright red walls but for most renters, that would be too overwhelming.
#5. Respond to Reviews
Reviews can either break or make your rental, so it is critical to respond to them whether positive or negative. Besides, reviews are essential to help you improve your rental. If you receive positive feedback, expect more bookings. However, when you get negative feedback, be wary and use it to improve your rentals.
Whatever reviews you get, you need to respond. For positive feedback, take it as an opportunity to interact and show your gratitude to them. On the other hand, respond to negative feedback by apologizing that their expectations were not met but emphasize that it will be improved for future renters.
To increase your bookings and revenue, you should consider the overall experience of the renter. Look into the renter’s point of view when planning a marketing strategy.
This way, you can understand what will attract more customers, thereby, increasing your profit. Simply put, the right marketing strategy will benefit you — and the people who call your house home for some time.