Marketing Plan for Your Rental Property

Running a rental business is like any other activity. You must have a clear plan. This applies to every aspect of business including marketing

The Marketing Plan should not be huge. A few bullet points will do. The most useful thing about it is its preparation '. Think about things, who, why, where? Speculate, question and refine your marketing strategy.

Tenant profiling

The plan should be based on the characteristics of your potential tenants.

For example might be:

Have you purchased an apartment with two bedrooms. And 'in a nice area and has a good view. The size and location means that it should therefore appeal to a professional couple or two sharers. You know that the area is popular with locators inward due to the proximity of a large business park near. The property has a garden and is therefore probably not suitable for a family. However, it is easy access to bars and restaurants and, therefore, should appeal to young occupants. The rental level probably puts it out of the reach of newly qualified graduates.

So that's it. A profile of tenants likely would suggest a 25-35 year old couple or two professional sharers.

Now that you've set the profile tenant, in order to complete the marketing plan is necessary to understand the best way to market your property. The potential scenario would be as follows:

Marketing options

You know that your local newspaper has a function of advertising for rent Tuesday. So to start with an announcement that it would be good. Your potential tenants and landlords who may be active are young and educated are very likely to use the Internet, so an Internet presence is essential.

There are numerous websites lease. I review the best in my forthcoming book on Landlordsbible.

A site that is owned by e-bay and it is easy to use and even for free Kijiji. It was decided to publish an ad on this site. The nature of the area and the type of tenant that aim to attract means that an ad in the local grocery store, a hypermarket Asda in this case is unlikely to be successful.

You know that leaving the market in that area is bustling. The current tenants are not due out for another 5 weeks. You are comfortable doing their own hiring. So they decided to hold off getting an agent involved, deciding instead to test the market. Do you have a friend who works for a large business based on local business park. So a message on the company intranet is another option.

It gets easier!

The great thing is that once prepared a marketing plan a few. You should be able to conduct the entire process without pen and paper. You instinctively know the profile tenant of a property and the ways of the real estate market to them.

You may have collected in the framework of the overall strategy section 'two tracking' of the term. This is an approach that I used successfully for many years in marketing my properties. The term is actually derived from an old trick where developers would have to run two concurrent planning applications to bypass the appeals system....