Are you struggling to attract renters to your rental property in San Jose?
That's a common challenge for landlords in this city. Although the San Jose Spotlight reports that 44% of households are renting, rental demand varies depending on certain variables, including the state of the economy and the supply of rental houses at a given time.
With prospective renters few and far between, how will you keep your property occupied? The answer is property marketing.
But there's another problem. You're not a professional marketer; maybe the closest you've come to marketing is placing a "for rent" poster at the property's gate. Worry not!
Here are a few rental marketing strategies to get you started.
1. Referral Marketing
Referral marketing involves getting current tenants to help you find new renters. The strategy is ideal for landlords who own multi-unit rental buildings.
Chances are your tenants may know someone who's looking to rent a house in San Jose, but they may or may not let the prospective renter know that your property has a vacant unit.
Here's the thing, though. You can persuade your current tenants to become your referral marketing agents.
One way to do so is by offering an incentive. For example, you can give a special discount on rent, or even a rent-free month, to any tenant who makes a successful referral.
Even if your property is single-tenancy, you can still make use of this strategy. When a tenant is moving out, ask them if they know someone who's hunting for a house.
2. Create Compelling Online Listings
98% of renters look for rental houses using online resources, according to the National Apartment Association. Online listings provide an ideal opportunity to reach a wide audience of prospective renters in San Jose.
However, creating a listing alone isn't enough. You need to create a compelling listing. Provide a clear description of all the amenities the property has, and attach high-quality photos of its selling points.
It's also important to choose an online listing platform that's relevant to your target audience. While national platforms have vast reach, it's better to advertise on a local platform because most of the people who could rent your property are already in San Jose.
3. Go High-Tech Virtual Tours
Digital marketing for rentals is usually effective, but you can bolster your efforts and get even better results by adding virtual tours to your strategy.
After finding an ideal rental online, a busy renter doesn't want to waste their time visiting the property for a viewing unless they're certain they'll rent it. A virtual tour can help increase their certainty as they can view the property remotely.
Use Property Marketing to Reel in Renters in San Jose
A tough rental market makes it difficult for you to maximize rental income. With a good property marketing strategy, though, you'll be in a better position to maintain a high occupancy rate.
What's more, you can outsource your marketing to Fireside Property Management. Since 1999, our company, which is a member of the National Association of Residential Property Managers, has been providing top-notch services to rental property owners in San Jose.
Contact us for all your property management needs.
