If you're a Charlotte landlord, you're likely unaware of the costs associated with vacant rental properties. The city boasts a rental rate of 3.3%, which is far below the national average of 6.6%.
Just because you shouldn't have a problem finding tenants doesn't mean you can sit back and wait for them to find you. Every landlord needs to carry out some form of property marketing to find quality tenants for their investment home.
Keep reading for our top tips on how to market your property successfully.
Carry Out a Rental Analysis
Figuring out how much to charge your tenants is a tricky affair. If you charge too much, you'll drive away potential tenants, and you'll lose money if you set your rental price too low.
A rental analysis involves comparing similar homes in the area with your property and adjusting the price accordingly. Extra facilities mean you can charge more than the competition.
Consider allowing pets in your rental property if possible. You can charge a higher rental when you allow pets and limit the associated risks by carrying out regular inspections or charging a pet deposit.
Seventy percent of U.S. households own pets, so you're limiting your market when you exclude pets from your rental home.
Perform Upgrades and Repairs
It's vital to carry out any necessary repairs before you advertise your property for rent. Well-maintained homes attract more inquiries and justify higher rent prices.
Appealing improvements can also help you increase your price. Consider implementing useful upgrades like smart technology and water- or electricity-saving devices.
These improvements help save your tenants money, so they won't mind paying a little extra on their rent.
Engage in Online Property Marketing
Most people look for rentals online, so it makes sense to advertise your investment property on websites like Trulia and Zillow, as well as social media platforms.
To do this, you'll need to craft an appealing property listing that helps your home stand out against the competition. Hire a professional photographer to take photographs of your home for online use.
You can also create video walk-throughs and virtual 3D tours of the property to draw more attention to your listing.
Once you've got gorgeous images to use for your marketing, you should compose an appealing property description. This copy must convince potential tenants that your home is a good fit for them.
Remember to include useful information about nearby amenities. Use persuasive language to highlight all the benefits of living on your investment property.
Get the Help You Need to Market Your Property
PMI Mecklenburg is your first choice for marketing your Charlotte, NC, investment property.
Backed by a franchise with over 20 years of experience in the real estate market, we can assist you with the most effective property marketing strategies to ensure your rental home attracts the best tenants.
We know where to advertise your property and can help you craft an irresistible property description. We also offer a full range of property management services.
Call us to find out how we can assist you with your Charlotte, NC investment property.
