There are around 20 million rental properties in the US nowadays. And for good reason! They offer landlords a fantastic long-term investment and source of cash flow, with tenants paying rent that covers the mortgage and other key expenses.
Have you just bought a new rental property for this purpose? Well, congratulations! However, the next key step is to promote it online to attract suitable renters.
Want some help with the task? Keep reading to learn everything you need to know about how to list a rental property online.
Choose the Right Platform
The internet’s full of different real estate listing platforms these days. That’s why the first step in this process is deciding which one(s) to use! From Zillow and Trulia to Hotpads and PadMapper, the options can seem endless.
The secret to success is figuring out where your ideal tenants are most likely to search. Think about the type of people your property would be appropriate for (e.g. young professionals, students, families, or high-earners…) and proceed accordingly. There’s sure to be a specific rental listing platform for that type of clientele.
Whichever platform you choose, you’ll benefit from putting your property in front of a wider audience. These websites are incredibly popular, which means your listings are guaranteed to get eyes on them. Better still, interested parties can contact you through the website to arrange viewings and so on.
Create the Listing
Your next task is to create first-rate rental listings for each platform. This bit’s fundamental to success! The quality of your listing has a direct impact on how much interest your property receives in a rental search.
In this section, we’ll detail how to optimize yours to full effect.
1. Nail the Title
The title of your listing is the first thing most people will see. That’s why it has to be eye-catching and informative! Do it right and you’ll compel someone to stop scrolling and click to learn more.
One winning formula is to include the rental price, the number of bedrooms, the number of bathrooms, and then the type of property followed by the neighborhood and a few noteworthy amenities (in that order). For example:
“$2500p/m, 3-bedroom/2-bathroom apartments for rent in the Bronx, NY, with modern appliances and awesome views.”
2. Write the Description
Okay, so your title did the trick and convinced someone to click. Now you have to woo them with a property description that’s just as good!
Keep it short and sweet. 4 to 6 sentences in a single paragraph should be enough to describe the property’s best bits and explain why it’s such a great rental opportunity (highlight the amenities in the vicinity too).
But don’t stop there…
Make sure you tell potential tenants the date from which it’s available and provide contact information so they can get in touch. It’s also worth mentioning whether the property is pet-friendly, plus details about the security deposit and utility expenses.
3. Be Professional
When you’re writing your listing, double-check for any glaring spelling or grammatical mistakes before hitting publish. It might not seem like a big deal, but you’d be surprised at how off-putting it can be!
Likewise, avoid using all caps and exclamation points. Far from attracting people, it comes across as unprofessional and spammy.
It’s also worth remembering that, as per the Fair Housing Laws, you can’t say what type of tenants you’re looking for either. Your unit might be ideal for a young professional, but you can’t write it in the listing.
4. Mention Screening Requirements
A final thing to incorporate into your property description is a note on screening requirements. The basic process involves seeking a rental application and running a credit report and background check.
Let people know about this from the outset! It’ll set their expectations and prevent any unwanted surprises down the line.
More importantly, it functions as a form of pre-screening. By discouraging people from applying who don’t want a credit/background check run on them, you end up attracting quality tenants. This saves you time and wasted effort.
5. Use Professional Photos
We see too many landlords creating listings with dark and pixelated photos taken on their smartphones. It makes sense!
This approach is quick and easy and phone cameras are better than ever.
Trust us, though, they’re still no replacement for professional photos.
Don’t forget: you’re trying to stand out from the crowd, attract peoples’ interest, and compel them to contact you over other landlords in the area. Awesome images are the best way to do it. They’ll show your property in all its glory- emphasizing the amount of space and light on offer.
Use a Broker
With the listing finished, all that’s left to do is hit publish and start sharing it online, on social media, and with your professional/personal network.
However, if everything we’ve discussed so far seems like too much hard work, another option is to hire an agent to handle everything on your behalf. Fast and convenient, they could find the perfect tenant(s) for your property simply through word of mouth- especially if they’re a larger brokerage.
Furthermore, any listings they create for you will look professional and be more likely to attract interest. They can also take care of any viewings and, because they know the area well, will be able to point out all the pros of your property and its location. Do some more research or read more here to see if a broker would be right for you.
Wondering How to List a Rental Property Online? Now You Know
Rental properties are a compelling way to generate cash flow and build wealth. Yet that doesn’t mean success is straightforward! First and foremost, you need to work out how to list a rental property online to entice would-be tenants to the door.
If you’ve been wondering how to do it, then we hope the insights in this article will help. Keep them in mind and it shouldn’t be long before your rooms are full and the rental income’s coming your way. Hungry for further insights on this topic?
Don’t go anywhere! Spend some more time scouring our blog today.