Utah's statewide vacancy rate for rentals is 4.5%. How many of your investment properties are currently sitting empty? Each one could cost you thousands in revenue every month.
With a strong property marketing strategy, you can reach St. George renters and find new tenants. Not sure where to start? Read on for the strategies you need to ensure your success.
Update the Property
You won't attract renters to your investment properties if it isn't appealing. Make a strong first impression by improving the property's curb appeal. Trim the yard, plant fresh flowers, and add exterior lighting.
Consider interior upgrades to enhance the property's value. For example:
- New flooring
- Energy efficient windows
- A fresh coat of paint
- New kitchen cabinets
- Light fixture changes
- Backsplash
- New kitchen appliances
After making these upgrades, hire a professional real estate photographer. High-quality imagery will enhance your online listings. Use these photos for other marketing campaigns.
Optimize Online Listings
Optimize your online listings to reach potential renters. Each listing should include:
- An attention-grabbing headline
- A detailed description
- Photos and videos
- If you allow pets
- Your housing rules
- A compelling call-to-action
Use search engine optimization (SEO) to appear as renters in St. Georgie look for a rental property website. Your listing could appear as a result, leading to more traffic.
Before setting your rental rate, complete a market analysis. A competitive rate can lead to more applications. If you set the rate too high, you'll scare away potential tenants.
Leverage Social Media
Direct more people to your online listings by sharing photos and videos on social media. Add location-specific hashtags to each caption. Include a compelling call to action to encourage website visitors and tours.
Share video walkthroughs of each rental property. You can spark a potential renter's interest before directing them to your online listing.
Gather Tenant Referrals
Ask your existing tenants to direct friends to your online listings. Develop a tenant referral program or request reviews. Positive reviews will strengthen your reputation as a reliable landlord.
Ask tenants if they're comfortable sharing video testimonials. Over 90% of people trust peer recommendations. Glowing reviews about your property will encourage future tenants to consider your rental property.
Offer an incentive to encourage your current tenants to help. For example, you can send them a gift card to a St. George restaurant or store.
Hire a Property Management Company
Consider partnering with a full-service property management company. Listing your rental on their rental property website can increase your online visibility.
The best property management company will help you offer better tenant experiences. Your current tenants will rave about living in your rental.
You can generate more tenant referrals to reach new renters. Offering better experiences can also increase lease renewals.
Develop Your Property Marketing Strategy
An omnichannel property marketing strategy will expand your tenant pool. Use these tips to reach potential renters in St. George, UT. Otherwise, outsource to an experienced property management company.
Our team at PMI St. George has 20 years of industry experience. We use state-of-the-art technology and award-winning strategies to support our clients.
Ready to increase your occupancy rate and maximize your profitability? Contact us today for help with your marketing strategy!
