There’s a lot you can do to maximize your earnings on an Oakland rental property, but here’s the most fundamental truth: you will only make money on your rental home when you are able to keep the property occupied by great tenants almost all the time.
When it comes to advertising and marketing your rental property, the trick to great tenants is maximum exposure. You want your listing to land in front of as many people as possible, especially when they’re ready to move or they know someone who’s ready to move.
As Oakland property managers, we know how to market your rental property for maximum exposure. To help landlords like you, we’re sharing our best marketing strategies, tips, and tricks that will help you attract a large pool of potential tenants.
This might feel overwhelming, especially if you don’t have the resources and the expertise to put together a solid marketing plan. In that case, you should consider partnering with an Oakland property management company. As experts, we can make this easy and efficient.
Market a Rent-Ready Property
When you have a vacant rental property, you want to make sure it’s ready to be seen by potential tenants. Don’t take marketing pictures and set up showings if it’s not in perfect shape. Tenants will only respond to your listing if they can imagine themselves moving right into the home. You want it to look like they can.
- Inspect the property thoroughly and make any repairs that are necessary. This includes major things like replacing old and worn appliances to minor things like installing new light bulbs if they’re burnt out.
- You also want to clean the property. Hire a professional cleaning crew to scrub it until it shines. The kitchens and bathrooms should be especially clean, and pay attention to details. Dust any ceiling fans, wipe down baseboards, and clean crumbs and debris out from under and behind the appliances.
- Next, you need to price the property correctly. This can be tricky if you don’t know the local rental market really well. Get an idea of what similar properties in your neighborhood are renting for. Don’t price your home too low; you’ll risk losing money now and during lease renewals. Don’t price your home too high, either; you’ll lose even more money on longer vacancy periods. Get some help from a property manager who understands what tenants are willing to pay for a property like yours.
If your property is missing appliances, gathering dust and dirt in the corners, or littered with personal items that prior tenants left behind, you’re going to have a hard time marketing that rental home to good tenants. Make sure it shows well for maximum exposure and applications.
Invest in Stellar Photos
Prospective tenants are likely going to look at your property’s pictures before they read the description or check out the neighborhood. Our society, and especially our social media and digital platforms, is driven by visual stimuli. Plan for this with your marketing, and give your prospective tenants something good to look at.
Appeal to a large pool of tenants by providing high quality, professional photographs. While hiring a professional photographer is a great idea, you can probably take good pictures on your own if you pay attention to a few details. For example:
- Make sure the lighting is optimal. Open blinds and turn on lights so you can leverage all that natural light and avoid having photos that look dark or are covered in shadows.
- Remove all clutter and debris. Don’t take pictures with mops in the background and piles of paper on the countertops.
- Pay attention to the angles you use to capture full rooms. A wide lens will help your rooms look larger in photos.
- Take pictures of everything. Tenants will want to see the kitchen, the outdoor space, the bedrooms, and the bathrooms. Photograph special items such as fireplaces, upgraded appliances, or pretty landscaping.
After you’ve taken a collection of great photos, write a description that matches them.
You might consider using video as well. This allows prospective tenants to feel like they’re walking through the home. It’s a marketing strategy that can save time because the tenants will know instantly whether or not they want to see your property.
Be Open to Self-Showings
We prefer to show properties to prospective tenants so we can do a bit of pre-screening and be available to answer any questions they may have about the home.
However, we understand the needs and wants – as well as the impossible schedules – of potential tenants, and we’re happy to utilize some of the technology we’ve invested in when it comes to marketing rental homes.
Self-showings began showing up during the pandemic, and as Oakland property managers, we’ve learned that they can be really instrumental in marketing a property and nudging prospective tenants towards completing an application.
Whether you’re a self-managing landlord or working with a professional property manager, we recommend you embrace self-showings. With technology and lockboxes, the process is seamless and secure. Self-showings:
- Are secure
- Save time
- Streamline the marketing process
- Are more appealing to tenants
Prospective renters can visit the property on their own time and according to their own schedules. They can walk through the unit on their own, and spend time inspecting the details that are important to them.
Marketing your rental property for maximum exposure can include a rent-ready property, excellent photos, and a willingness to embrace self-showings. You can share your listing on all of the most popular rental sites and even use social media.
Don’t forget your word-of-mouth advertising. As Oakland property managers, we’re always talking about our available rental homes to current tenants, other property managers, and leasing agents we know who are looking to find homes for their best tenants.
With the right strategy and tools, you can attract a large pool of potential tenants, reducing vacancy rates and increasing your rental income. If you’d like to talk more about marketing, please contact us at Marquardt Property Management. We provide expert property management in Oakland, the East Bay, and in surrounding communities like Hayward, Pittsburg, and Concord.
