If you’re wondering how to market your Dallas Fort Worth rental property, we have one good idea that can solve a lot of problems and bring you some successful results.
That one idea is this: Professional property management.
A good property manager has a lot of resources when it comes to marketing your property. You can expect a faster, more effective process that quickly attracts a large pool of potential tenants to your property. Thanks to the resources and the technology available to property managers, you place a well-qualified tenant quickly.
Posting a sign or throwing an ad on Craigslist is one way to market your property, but it’s not the best way.
Instead, take a strategic approach like we do. Here are some of the ways that your Dallas Fort Worth property managers can have an impact when it’s time to market your vacant rental property.
Recommending Rental Property Improvements
One of the first things a good property manager will do to market your home is ensure it’s ready for the rental market in Dallas Fort Worth.
You know you need to provide an attractive, well-maintained property that’s safe and habitable. But, a property manager will go further than that. We work with tenants every day. We know what they’re looking for in their next home. We know what they’re willing to pay more for in a rental property.
So, we’ll recommend some improvements and updates that will really set your property apart from all the others. Any renovations you’re willing to make – even something as minor as a new light fixture in the kitchen – will give you a competitive advantage when it comes to pricing and attracting good renters.
Your management company will stress the importance of making your property as attractive as possible before the marketing begins.
There’s no sense in marketing a home that still needs work or is in the middle of a turnover process. When tenants look at your listing or visit for a showing, they want to imagine themselves moving in right away. You want to provide a rental home that’s move-in ready, otherwise tenants aren’t going to bother looking at it. Make sure all your repairs and updates are made.
Here are some of the updates that most property managers will recommend before you begin marketing your home:
- Fresh paint on the walls and the trim. Even ceilings can benefit from new paint.
- Updated landscaping and curb appeal. Maybe power-wash your front door.
- Fixing any cosmetic or wear and tear items such as nail holes in walls, caulking around tubs, etc.
- Clean or new carpets or replace carpet with hard surface flooring.
- New fixtures in bathrooms and kitchen.
- Updated lighting inside and out.
You don’t have to spend thousands of dollars renovating the property before you start your marketing. Just make sure it looks clean, modern, and move-in ready.
Dallas Fort Worth Rental Property Pricing
Pricing is going to impact how you market your rental property, and your manager can ensure you’ve got the right rental price. A rental value that’s too low will cost you money in obvious ways. You’ll be leaving money on the table every month when rent is paid, and you’ll have a hard time raising the rent to market rates from year to year. It might help you market your home – tenants will be quick to rent a home that’s less than it should be – but, you’re likely to lose a lot of money. Especially in a market as strong as this.
Overpricing your property is also a risk. You’ll likely find yourself waiting longer than necessary to find a good tenant who is willing to rent your home at a higher price. When they can find similar properties for less, they’re going to explore those options. A longer vacancy stunts your cash flow and drags down your ROI.
Pricing matters when you’re marketing because tenants won’t bother looking at homes that are outside of their budget. They also know the market and they won’t bother looking at homes that are overpriced.
A property manager will do two things for you:
- Establish an accurate and profitable rental value based on market values that we can access with our data and technology; and,
- Ensure pricing is included in all of your marketing. There’s no point in attracting attention from tenants who cannot afford your rent.
The market always drives your price. Sure, your location can increase or decrease what you ask. New amenities or upgrades in the home will allow you to ask a little more. But, the market will tell you where your rental range is, and you have to respect it if you want to attract good tenants and avoid long vacancies.
A competitive and accurate rental value is best achieved with property management help. You don’t want to price your property based on the rental rates you find on Zillow or Craigslist. Get accurate numbers instead.
Elements of a Professional Marketing Plan
Here are some of the marketing elements you can expect from your property management company:
Professional photos will make a big difference when you’re marketing your rental property. When tenants land on your listing, what do you think they’ll do first? They’ll look at the pictures. This is an opportunity to provide a good first impression, and you want to do more than upload a few shots that you took on your phone without thinking.
Expect your property manager to take some great marketing photos. We use up-to-date cameras and technology, and we know how to take the shots that will really sell tenants on your home.
At Assign Property Management, we always try to include photos of:
- The front door and any outdoor space
- Living areas
- Special amenities such as fireplaces, security systems, pools, or attached garages.
Videos are also popular. A walk-through video will let prospective tenants see enough of your property that they’re likely to apply for it by the time they actually schedule a showing. It’s also helpful for out-of-state tenants. We’ll upload videos onto social media, and they’ll be shared with people who may be looking for a home.
Concise but Detailed Descriptions
The photos are great, but you also need to provide some information about your property that tenants will find relevant.
List some of the details that prospective tenants need to know, but don’t be too wordy. Concise descriptions are best. You can include the square footage of your property, the number of bedrooms and bathrooms that are available, and when the home will be ready for move-in. Include the rental amount and always mention if pets are allowed or considered.
Use some adjectives that will grab the attention of tenants. If you’ve recently replaced all the appliances in your kitchen, mention that. When a washer and dryer is included, your ad should say so. Talk about whether landscaping is included or if the home is in an HOA. Don’t forget your contact information. Let tenants know how to contact you, and if you offer self-showings, provide instructions on how to navigate that.
Using Online Ads and Social Media
Once you have taken the photos and written the listing, it’s time to post that listing online.
Most tenants in Dallas Fort Worth are using sites like Zillow, Zumper, HotPads, Rent Café, PadMapper, and Rentals.com. It can be time-consuming to post your ad on every available platform. This is another benefit to allowing a Dallas Fort Worth property manager to market your home. You can leverage our software to quickly syndicate your listing on all the popular rental sites. It saves time and money.
A lot of owners and landlords use Craigslist, and there are a number of good reasons to post a For Rent listing there. You’ll get a lot of traffic from prospective renters. However, the ease and accessibility of that site also leads to the potential for scams and your listing could be stolen by someone hoping to make money off properties that aren’t theirs. Be wary. Watermark your photos if you can.
Keep Showings Convenient for Tenants
With a strategic marketing plan in place, your property manager is sure to generate a lot of interest in your Dallas Fort Worth rental property. Tenants will likely be calling and emailing to ask questions or schedule showings.
It’s difficult to be responsive when you’re marketing your own home. Fielding those phone calls and emails can be time-consuming. But, your property manager is set up for this. We can be responsive, do a bit of pre-screening before we schedule a showing, and then set up a time for your tenants to see the home. A property manager can also provide self-showing technology like lockboxes or digital keys. Tenants appreciate the privacy of seeing a home on their own, when it’s convenient for them.
These are some of the best ways that a Dallas Fort Worth property manager will market your rental property. We’d love to help you market and lease your rental home. Please contact us at Assign Property Management.