Albany, NY, ranks 17th on the top 25 best places to live in the United States. According to these new rankings, Albany is also the best place to live in New York.
People want to live in Albany, which is great news for landlords looking to fill vacancies. Even though the area is popular, you might not have as many applicants as you'd like. It could be because of poor marketing practices.
Keep reading to learn four property marketing tips that work.
1. Advertise on Rental Listing Sites
One of the best rental property marketing tips is to advertise your rental listing online. First, write an engaging rental listing that features all the important aspects of your property.
A great rental listing is just that if no one can find it. For it to be effective, get it in front of as many prospective tenants as possible.
Tenants search for rental units on popular listing sites, so your listings must be on them too. You can choose which sites to utilize, or use a platform that posts your listing across various listing sites.
A property management company's website is another common place to market your rentals.
2. Market on Social Media
Digital rental property marketing through social media is a trendy way to find quality tenants. These days, prospective tenants are using social networking for everything, even finding a place to live.
YouTube, Facebook, and Instagram all offer unique ways to showcase a rental property. For example, share a virtual tour of your vacancy on YouTube or via Instagram Reels.
Posting a well-crafted listing to Facebook Marketplace is a newer strategy that can benefit landlords as well.
A property manager can help you keep your social media accounts updated to attract renters year-round.
3. Use Signs
Although social media and online searches are popular ways to advertise your rentals, don't forget about the traditional methods. "For Rent" signs outside of your property are noticed by people walking or driving by.
You can create some interest in your property without spending a fortune. "For Rent" signs can help generate word of mouth. Someone who remembers your sign can mention it to someone they know who is looking for a rental.
4. Set the Right Rental Price
You can market a listing using these best practices, but if your property is overpriced, you won't get any hits. Rental pricing is a huge factor in marketing your property to tenants.
You can set a rent price that aligns with the local market by conducting a rental valuation. Compare your property to similar ones to avoid underpricing or overpricing rent.
A full-service property management company in Albany knows the market well. They can evaluate the value of your property with their knowledge of local real estate.
Attract Tenants With These Property Marketing Tips
Albany, New York, is a tough rental market. It can be hard to attract tenants in such a competitive space. To find quality prospective renters, use these property marketing tips.
Don't have time to market your property? No problem! PMI Capital District is a full-service property management company that handles rental marketing and more.
With over 20 years of industry experience, we know what it takes to be successful. It all starts with effective marketing. Contact us today to start filling your vacancies.