How Does Your Rental Ad Fare Against the Competition?

In this economy especially, it is important to offer potential renters a price they can afford within the parameters of your listing. It’s equally important, then, that you provide the features of your property in an accessible location. With Rent Shout it’s easy – just fill in the fields within our template and send your listing off automatically to the various targeted directories we syndicate to.

Every now and again we come across listings that have been successful in capturing a good amount of leads, and we like to highlight those ads to show you the results you could be receiving for your own listing.

This successful ad comes from Arlington, Virginia. Along with our standard package, this customer purchased our Premier Exposure upgrade for $29.99, which places his listing on some of the top directories such as RentalHomesPlus, HomeTownRent and HotPads.

But what really makes this property stand out above the rest is the quality with which it was made. Here are a few things to keep in mind when creating your ad:

• A list of property features and amenities – anything that will entice potential renters to take the next step toward your listing should be included in your ad.
• Competitive pricing – based on results from Craigslist for listings with similar features, this property certainly stands out from the crowd. Does yours?
• At least five photos that highlight key rooms in your property (kitchen, master bedroom, master bathroom, any special rooms, etc.) – if you have more, don’t stop at five photos. The more you include, the better your listing will be received.
• Both phone and email contact information – a means of reaching the property manager is essential. A second contact outlet just gives more opportunities for people to reach you.

If you’re not receiving the desired outcome from your rental ad, consider the key details that may be getting left out. Taking these factors into consideration can only help improve your listing’s success, so that the next time you have a property for rent you may just be seeing similar results to those above.

Click here to visit the listing.

5 Secrets to Successful Rental Advertising

All online rental ads are not created equal. In fact, many factors determine whether a rental ad will be successful at attracting renter leads. With so much information and so many choices on the internet, rental marketers need to make sure their ads catch – and hold – the attention of potential renters.

This week, we’re highlighting one of our members’ ads that received over 40 phone and email leads in one month… 40! For those who like to keep track of the numbers, that’s less than a buck a lead (Single-family rental ad = $29.99). Let’s breakdown the strong points of this ad that helped to make it a success:

• Photos – As we’ve mentioned before on this blog, photos of your rental are extremely important! When renters are searching online for their next place to live, appealing property photos are a must. If an ad has sparse (or no) photos, its chances of attracting leads are slim to none. In addition, this ad had more than the 5-photo minimum needed to receive the advertised rental photo-video at no extra charge, which meant even more online exposure.
• Competitive Rental Rates – In a competitive market, the price often matters more to potential tenants than anything else. A great way to find comparable prices in your area is to view other rental ads listed on classified sites and rental marketplaces like Craigslist or RentedSpaces. Our featured rental ad has a very competitive price for comparable rentals in the Salt Lake City area.
• Low Deposit or Incentives – Another great way to help your rental stand out from the crowd is to offer a low deposit or move-in incentive. Especially true during times of recession and employment uncertainty, large deposits are hard to put together and may deter renters from choosing your property. This successful rental ad only required a deposit of about 1/2 the cost of the monthly rent and offered one week of free rent as an incentive.
• Widespread Distribution - Recent studies show that 90% of online renters search multiple sources online before making a decision about where to rent. This fact alone makes it essential to have your rentals advertised on as many places online as possible. With RentShout’s online syndication, this rental ad was able to achieve widespread online visibility and capture the attention of renters searching on multiple websites.
• Easy to Contact - Isn’t it frustrating when you find just what you’re looking for online, but then have no idea how to contact the seller, make the purchase, or close the deal? The same is true for renters searching for apartments and rentals! If they stumble across your online ad, the contact information should be absolutely obvious. In this week’s success example, there is a contact form right at the top of the ad, a flashing email button, and a phone number.

To sum up, renters searching online have a lot to choose from. By including plenty of attractive photos, offering competitive rates and incentives, and distributing the ad across the internet, this rental marketer was able to attract over 40 leads in just one month.

It’s a Renter’s Market

I am sure most have heard the saying “It’s a buyer’s market”. You generally hear this when supply on property for sale is much greater than buyer demand. We are now in a time where it’s both a buyers market and a “renter’s market”. Why? The drop in real estate values is fueling the rental market and giving renters plenty of choices. Many owners have decided to keep their property and rent them out until the real estate market recovers. Many investors are also picking up foreclosures and renting them out. With so many rentals on the market to choose from, it creates a very competitive space. As a property manager, you will need to advertise your rentals everywhere you can. Many property managers and landlords are offering incentives to lure in renters.