The total vacancy rate at the end of 2023 was 10.1% (equating to 14.55 million empty housing units). How many of your Westminster real estate investments are sitting vacant? The longer they remain empty, the more money you'll lose.
Instead of letting your vacant rental properties steal money from your accounts, update your property marketing strategy. With these tips, you can gain an advantage in the Westminster real estate market. Discover how to attract tenants with these proven marketing strategies!
Explore Westminster Real Estate
To gain a competitive advantage, you first need to understand the current real estate market. Explore rental properties in the area that are similar to yours. Note recent upgrades, rental rates, and the property's unique features.
Review each property's online listing. What helps these listings stand out? You may notice:
- Virtual tours
- Video tours
- Attention-grabbing headers
- A detailed list of amenities and features
- Special deals (like the first month of rent free)
Use this information to enhance your property listings. Ensure local renters find your listing with search engine optimization (SEO). Nearly 70% of all website traffic is from local and organic searches.
Add location-specific keywords to the listing to appear when Westminster renters search for available properties online. Specify the types of properties you have available to reach specific renters.
Enhance Curb Appeal
First impressions can make or break any interaction, online and in person. Make a strong first impression when people find your rental properties online. Update each property's curb appeal to make it more enticing.
Hire a landscaping company to ensure the lawn is trimmed and the walkway is clear. Consider adding a fresh coat of paint to the property's exterior. Creating a welcoming atmosphere to encourage more people to explore the property.
Clean and Stage the Property
Hire a professional staging company. A clean, staged property is more likely to attract renters.
The staging company will help prospective renters imagine themselves living on the property. You could generate more applications, leading to a higher occupancy rate.
Use Digital Marketing Strategies
Digital marketing strategies can help you reach new renters. Use:
- SEO
- Paid advertising
- Social media marketing
- Video marketing
- Email marketing
If you lack experience with these strategies, hire a property marketing agency. Leverage their experience and expertise to avoid wasting time and money.
Hire a Property Manager
Offer renters the best possible living experiences by hiring a property management company. Your property manager can boost tenant satisfaction rates. Happy renters are more likely to post positive reviews online and renew leases.
Positive reviews can strengthen your reputation as a landlord. Future tenants will feel more comfortable applying after reading these reviews.
Upgrade Your Property Marketing Plans
An effective, planned property marketing strategy can boost each property's online visibility. You'll generate more traffic to your listings, leading to more applications. Use these proven marketing strategies to get started.
Otherwise, hire an experienced property management company. PMI Mile High leverages state-of-the-art technology to maximize owner profitability. We can help you discover how to attract tenants without wasting time or money.
Rely on our team's 20 years of experience in the industry. Contact us now for help with your marketing strategy.
