Rental prices in Austin are cooling as local vacancy rates increase. In 2022, the vacancy rate was 5%, but has since increased to 8%. If you're struggling to compete in the Austin rental market, you need to start marketing.
These property marketing tips can help you gain a competitive advantage. You reach local renters and stand out from competitors. Use this property marketing guide to improve your occupancy rate today!
Research the Austin Rental Market
Before applying these real estate tips in Austin, research the market. Consider how your rental property compares to others in terms of:
- Rental rates
- Amenities/unique features
- Recent upgrades
- Location
This information will help you complete a rental analysis. You can set competitive rental rates to attract renters without losing revenue.
Use your research to make cost-effective upgrades to your investment property. Otherwise, renters will look for properties that better suit their needs. These upgrades can include energy-efficient windows, smart home technology, or new floors.
Gather Professional Visuals
Sharing high-quality images, virtual tours, and videos can help your rental property stand out online. Work with an experienced real estate photographer. They'll capture your property in the best light while showcasing its features and amenities.
Use virtual tours to create an immersive experience. This will help you recognize serious renters who have a real interest. After completing the virtual tour, they can contact you to see the rental in person.
Optimize Your Listings
Optimize your online listings to appear on search engines like Google. Use Google Trends or Keyword Planner to recognize search trends. What terms do people use when searching for Austin rentals?
Feature these keywords within the listing to gain more online visibility. Enhance your listing with:
- High-quality images
- Detailed descriptions
- A compelling call to action
- Your contact information
- The rental rate
Share the listing using social media and email marketing. Add location-specific hashtags to your social media captions to appear in front of local renters.
Use Targeted Rental Property Advertising
Digital rental property marketing can direct more renters to your online listing. You can use Facebook Ads and Google Ads to create targeted campaigns.
Specify your targeting parameters based on audience research. You can reach renters based on demographics, search terms, and other factors. Targeted ads are more likely to engage potential tenants.
Engage Renters on Social Media
Use social media marketing and tenant attraction strategies to drive interest. For example, you can share an eye-catching video tour of the property. Post images, talk about recent upgrades you implemented, and answer questions.
Apply Professional Tenant Attraction Strategies
Applying these tips alone can become time-consuming. Instead, hire a property management company. Their professional services can help you reach potential renters online.
Choose a full-service property management company. Leverage their expertise to increase your retention rate.
Improve Your Property Marketing Today
Navigating the Austin rental market can feel exhausting if you don't have help. Instead, partner with a property management company. Rely on their expertise to improve your property marketing campaigns.
You can depend on our team at PMI Austin Experts. We have 20 years of experience helping owners like you maximize their profitability.
Trust our state-of-the-art technology, award-winning services, and effective strategies. Contact us now for a free rental analysis.
