With over $485 billion spent in rent every year in America, you might want to take your slice of that pie. As such, you likely want to aim for stable, long-term renters to ensure you have long-term passive income. With this in mind, how do you market only to this group to bring them into your properties?
Below, you will find five of the best ways you can start to use property marketing to bring these groups to you. Using this list, you can ensure you do not entice too many short-term renters and have a much easier time moving forward.
1. Promote The Stability of Your Property
People looking for long-term leases want to know they will not have to uproot themselves in a few months or years. As such, by talking about the stability of the location and your intent to have someone in there for a long time, you can reassure potential tenants.
This is one of the best marketing tips we have as it makes it very clear to everyone involved what your intentions are. You can then get the same kind of communication back from potential renters and give one another peace of mind.
2. Make Long-Term Leases More Exciting
This marketing guide would be incomplete if we did not mention the potential of special offers for long leases. For example, if you get someone to sign a 24-month lease or longer, you could offer a discount on the rent, or even the last month free. This entices people to stay for longer, helping them feel secure in a long rental.
3. Promote Communities
When people live in an area for a long time, they often want to get to know their neighbors. Your property marketing should promote this idea and encourage them to get to know one another. This will make them more likely to stay longer, too, if they enjoy the social benefits of a friendly community.
4. Target Towards Families and Professionals
Any professional marketing push should aim toward those who want stability. For example, those with families or who are planning to start one, as well as professionals with stable jobs.
These people are looking to settle down and have an uncomplicated life. A long-term lease gives them the security they need for this.
5. Make Rent Payment Easy
Instead of asking for cash or check, make rent payments much easier. Sign up for an electronic payment system, especially one with automatic payment options. This will ensure you receive the money on time and means the renters will not need to stress about paying manually every month.
Many property managers can even set this up for you, taking the load off of your back.
Experts in Property Marketing and Management
With these tips, you should be able to give your property marketing a real lift and bring long-term tenants to the fore. Though, this can still be a lot of work, so you might want to look into getting a property manager to handle your rental. Lucky for you, we are here to handle that.
We can work with you to take over as much of your property management as you need us to. So, give us a call and we can get that process started today.