How can rental property owners in San Diego create better ads that will yield real renters and maximizing ROI?
Whether running rental property ads on Craigslist, using the local newspaper, opting for print magazines, online listings or yard signs, most landlords will find that they can do a lot better if they work on improving their advertising strategies and content.
1. Better Phone Numbers
Step one is to make sure your phone numbers are working. Sounds simple, but even large complexes have spent money on huge billboards, and wondered why they were sitting at less than 50% occupancy rates, until they realized their phone numbers weren’t delivering!
Having recorded messages with property details, or even automated phone systems to progress callers through to applying, and lead capture systems is smart. It’s also worth testing actual numbers. Some report local numbers work better than toll free ones, while the actual digits on bandit signs can also make a difference, especially when you only have a few seconds for passing traffic to remember or write down a number.
2. Monitor the Competition
No rental ad should ever be published without some market research. Don’t publish a word unless you know what your competition is advertising. You won’t want to sound the same as everyone else, and certainly not inferior.
3. Under Promise, Over Deliver
Landlords and real estate investors often question why they get no hits on their ads. Unfortunately, others have tarnished the industry in recent years by not responding to inquiries. If you advertise “1 to 3 bedroom apartments from $600,” and you do not deliver on the price point, you are not putting yourself in a position to close a deal. Today, prospects are virtually looking for every reason not to trust companies and or smell a rat. Win with transparency. Broadcast exactly what you mean and have. After all, why waste money on print and labor that won’t yield deals or income?
4. Know Your Rents
Know the difference between local asking and actual rents! Too many landlords don’t do their own due diligence before buying income investment properties. Just because 3 local properties are asking $1,200 in rent, doesn’t mean you’ll get it on your units. Real rents being paid for occupied units could be half that.
5. Highlight the Right Features
Don’t just copy the next guy. Give some thought to the features most in demand, and most important to your target demographic. Is it price, location, services, ease of move in? What will help you stand out?
6. Avoid the Obvious
Avoid the ‘duh,’ and ‘I hope so’ lines. They hope you are honest, units are clean, have AC, etc. Answer the questions that they really want to know. Why should they call you, and call you first, versus the other 100 rental ads?
7. Better Property Photography
When it comes to most rental ads, no photos means no action. Renters don’t have time to guess or see every unit in person. Take the time to take great pictures, and even consider staging them. After all, real estate photography is the key to a timely and profitable transition period for renters.
