We are talking about how to market a rental property in Tampa, and the most important thing you need to do is to know the rental market.
It’s critical to get an idea of what homes are on the market and what the prices are, specifically the prices of those homes similar to your own. This research will help you price your home competitively. If you can’t do that, you might price your home too high, and it will take a long time to rent your home. Or, you’ll rent it very quickly because you underpriced it.
We recommend that you call a local property management company to get help with a rental analysis for your property. You could also check out your neighborhood and look for signs that indicate a property is for rent. Whether it’s being rented by an individual or a management company, you can call and ask how much it’s listed for. You can also go online and search similar homes to determine your own price range.
These days, print advertising is the least effective way to market your property. Research has told us that 90 percent of people are using the Internet to find their homes. Sign up with an Internet listing service like Rentals.com or FloridaRentalAds.com. Those are more expensive for owners than for companies like ours because we get a volume discount. When you’re writing your ad, use catchy phrases and sharp pictures to really provide a detailed description of your property. You also have to be careful about what you don’t say because it’s illegal to say something in your advertising that violates the rights of any protected classes. Fair housing is very important to us as representatives of our owners.
Be creative with your signage and post marketing materials on community bulletin boards or in the clubhouse if your home is in a condo or a housing development. Make sure you are fast in answering calls and getting back to people. Get yourself out there and be in touch quickly with the clients coming in.
If you have any questions about how to market your rental property, please contact us at Berkshire Hathaway Florida Properties Group.