As it stands, about 36% of households in the US rent their home. It's worth bearing in mind that the number of renters varies greatly between different locations.
It's possible to make a lot of money from a rental property, but only if you can secure tenants. In a tough market, this can be a lot more difficult than you might expect. Fortunately, there are several things you can do to improve your property marketing and make this easier.
In this guide, we'll go over some key tips that will help you attract tenants in a tough market in Tampa, FL. Keep reading for more.
Use Quality Pictures
A picture says a thousand words, so making sure you use good pictures for your property marketing materials can make a huge difference. When people are scrolling through listings, the right images can make a huge difference.
You want to be able to catch people's attention. Professional, high-quality pictures will stand out, and more people will click on your listing and want to arrange a viewing. This will likely give you a choice of tenants so you can find one that's right.
Provide Important Information
Good pictures will draw people in, but that's not enough to make people want to move into your rental. Every renter will be looking for various details, so you need to give them the information they'll be interested in.
Some of the most important details include:
- Neighborhood
- Size of the property
- Number of bedrooms/bathrooms
- Is there a backyard?
- Age of the property
You should also include details of any nearby amenities that could interest renters. Think about things like nearby schools, hospitals, and public transport hubs.
Highlight the Best Features
When the market is good, you'll have your pick of applicants. In a tough market, however, it's the renters who will have plenty of options. As such, you need to do what you can to make your property appeal to people more than the others on the market.
The best way to do this is by highlighting features that appeal to renters and buyers. A swimming pool, for example, is something that most people would love, but most homes don't have one. Consider any standout features that your property has, such as an outdoor kitchen, decking, an attic conversion, or a solar energy system.
You should also mention any recent renovations, such as new windows or a new roof. People would rather move into a house if they know they won't have to worry about issues like leaks or drafts through gaps in windows. All of these things will also help you increase your rental price so you can make higher profits, but you want to make sure you still keep the price fair.
Professional Property Marketing
Just owning a property isn't enough to make a good income. You need to market it effectively if you want to attract tenants, and this can often be quite challenging.
In many cases, it's best to hire a professional property manager. At PMI MetroBay, we have the knowledge and experience needed to help you with your property marketing so that your rental will stand out in a tough market. Contact us today to learn more about how we can help you become successful as a landlord in Tampa, FL.
