Have your Salt Lake City, UT vacancy rates continued to rise over the past few years? You're not alone. Those vacant units will continue stealing money from your accounts if you don't find new tenants.
With these property marketing strategies, you can help more people find your Salt Lake City properties online. Watch your vacancy rates drop with these proven strategies!
1. Improve Tenant Experiences
If your existing tenants are unhappy, they may start telling others about their negative experiences. Start improving your landlord-tenant relationships. You could have an easier time retaining great tenants, which will lead to lower vacancy rates.
Your existing tenants could help you find new renters. Consider developing a referral program. As tenants bring you new renters, reward them with gift cards or other incentives.
Ask your current renters to share their experiences living in your rental properties. Their positive reviews could encourage future renters to trust you as their landlord. In fact, over 90% of customers trust peer reviews.
As you start generating more applications, develop a tenant screening and tenant placement process. Screening tenants can help you avoid problematic renters. You won't have to worry about people paying rent late or damaging your property.
If you don't have a tenant screening process in place, consider outsourcing. An experienced property management company will help you find the best renters in Salt Lake City.
2. Update Your Property Listings
People won't give your property listings a glance if they lack important details. Provide prospective tenants with all the information they need. Mention:
- If the property is pet-friendly
- Amenities
- Parking
- Nearby venues
- Public transportation options
- Nearby shopping options
Look at other listings for Salt Lake City rental properties. What qualities set your rental property apart? Highlighting these qualities can help you attract relevant applicants.
Optimize your listings using location-specific keywords. As people look for Salt Lake City rental properties, your listing will appear as a result.
3. Use Rental Property Advertising
Rental property advertising can help you direct more people to your listings. Use platforms like Google Ads and Facebook Ads.
Google Ads will allow you to create text ads that appear among organic search engine results. You can also create display ads (animations, videos, images, etc.).
Use eye-catching images of the property to create social media marketing ads. People spend 142 minutes on social media platforms a day. Appearing on these platforms will help you generate more visibility and traffic.
4. Hire a Property Management Company
If you're struggling to develop an effective rental property marketing strategy, ask for help! Hiring a full-service property management company can save you time and money.
In addition to developing your campaigns, they can also streamline operations to improve tenant experiences. They can help you find and retain tenants, allowing you to generate more revenue.
Property Marketing in Salt Lake City
An effective property marketing strategy will help more people find your Salt Lake City properties online. Use these tips to appear in front of new tenants. Otherwise, consider partnering with an experienced property management company.
Wheeler & Associates is a local family-owned and operated company. Since 1973, we've helped property owners like you succeed in the industry. Contact us now to learn how we can improve your marketing strategy.
