Competition is heating up in the Springfield, MO, rental market. The homeownership rate declined by 17% from 2010 to 2020. This trend is likely even higher now with record-high home prices and rising mortgage rates.
Springfield's population is growing, and more residents are looking for a rental unit. Nearly 58% of people in Springfield are now renters.
At the same time, poverty is a major issue in Springfield and many cannot afford the rent. Read on to learn how to find the right tenants with effective property marketing. Explore how to get your property listings out to the best potential tenants.
Visual Content
You want to find tenants who care about appearance and take pride in their home. These kinds of renters are more likely to take care of your property.
Visual content is one way to reach high-quality tenants. Show them the best attributes of your rental unit. For example, use a wide lens to make bedrooms look large and filled with potential.
Virtual tours are another highly effective way to highlight your property. You can share virtual tours on social media and make online browsers feel like they are on-site. This is convenient for real estate shoppers and saves you time on in-person visits.
Targeted Marketing
Social media marketing allows you to target specific audiences. In the past, property listings were featured in magazines or newspapers. Everyone in the local area saw the listings whether they were shopping for real estate or not.
Now, platforms like Facebook allow you to advertise to the demographics that fit your property. For instance, you can zero in on users with a targeted income range. This strategy makes sure the rental prices of your property are compatible with shoppers' income.
You can also set up your marketing strategy for particular age groups. If your community only accepts tenants aged 55 or older, there is no point in advertising to Generation Z. Other useful filters include location and family size.
Detailed Listings
Finding tenants that pay on time and care for your property requires attention to detail. High-quality tenants have a checklist and are looking for particular features. When a tenant gets what they want, they are more likely to renew the lease.
Your rental listing should include all the essential details. At a minimum, prospective tenants are looking for the number of bedrooms, bathrooms, and square footage.
Your rental listing also needs to separate itself from other local listings. Do you have a washer or dryer in the unit? Is there a swimming pool or fitness center on-site?
Along with the details, high-quality images help the cause. Make it a point to include an image of each amenity that your property offers.
Your Guide to Property Marketing
You now have a firm understanding of real estate marketing and what is necessary to attract good tenants. The Springfield market is competitive and there are tens of thousands of prospective tenants. The key is finding the right tenants that provide a steady stream of revenue.
Hunter Property Management has been finding the best tenants for more than three decades. If you need assistance with property marketing, contact us at Hunter Property Management to speak with an expert.
