As a real estate agent listing a rental property, your goal is to help your client's space stand out in a competitive market. Creating a strong listing helps you attract the right tenants quickly.
If you are managing rental properties or helping your clients fill an empty space, this guide will walk you through the steps of creating a strong rental property listing.
We'll also cover the important tenant screening process to find reliable renters and draft a strong lease agreement to protect your client's interests. Using these approaches will help you optimize your rental listing to achieve the best results for your client.
Key Takeaways
To make your rental ad stand out, you need a catchy title and a story-like description, as well as highlighting the amenities the property offers to pull in people who are looking to rent.
To set rental prices, look at what others are charging nearby. You want to find a sweet spot where the property owner is making money but also gets folks interested in renting.
To really sell your rental, take great photos or set up the space nicely, offer tours online, pick the best websites to list it on, and make sure you have a strong tenant screening process.
How To Make Your Listing to Stand Out
To make your rental listing stand out, start with an attention-grabbing title and write a description that highlights the property's best features. Focus on unique amenities and use clear, concise language to convey the benefits of living in the rental property.
Choosing the Right Title
Your title needs to grab attention fast. It should highlight what's best about your client's rental property and why it's special. Keep it clear but interesting so people want to click and find out more.
Here's a few examples:
"Sunny 2-BR Downtown Flat with Rooftop Terrace"
"Cozy Studio Near Central Park - Perfect for Commuters"
"Modern 3-Bedroom Home with Private Pool in Quiet Neighborhood"
Describing The Property with Flair
Keep your property description engaging. Instead of just listing features, describe what living in the property feels like. Mention the cozy fireplace or spacious backyard in a way that makes people picture themselves there. Focus on the unique lifestyle your property offers to stand out.
Here's an idea to get you started:
"Imagine relaxing by the fireplace in this charming 2-bedroom home, or hosting summer barbecues in the expansive, lush backyard. With natural light filling every room and modern comforts throughout, this house isn't just a space—it's the backdrop to your next chapter."
Make it about the experience, not just the specs.
Highlighting Amenities and Upgrades
Mentioning amenities like in-unit laundry, hardwood floors, or smart home features can make your client's rental property more appealing. Highlight how these improve the living experience in your listing to attract attention.
Pricing The Rental Competitively
Setting the monthly rent price for a client's property involves understanding the market, considering the property's features, and making sure the price aligns with the client's financial goals.
If other homes in the neighborhood rent for $2000, but your client's home has a renovated kitchen and a finished basement, you might list it at $2200. This accounts for its unique features while remaining competitive in the market.
Your aim is to attract tenants quickly at a price that reflects the property's value and helps your client achieve their financial objectives.
Assessing Market Rates
Find the right rent price by checking what similar properties charge and understanding local economic trends. Use online tools for comparisons. Your goal is to attract renters and ensure a good return without repeating what’s already been said.
Considering Additional Expenses
As you prepare a property listing for your client, consider all potential costs to ensure the set rent covers expenses and maintains profitability. Key expenses to account for include:
Property taxes
Insurance
Maintenance and repairs
Potential vacancies
Utilities (if included)
Property management fees (if applicable)
-
HOA fees (for properties in homeowners associations)
Photography Tips for Maximum Exposure
A picture is worth a thousand words, and when it comes to rental listings, high-quality photographs can be worth a thousand views. Capturing the rental unit in its best light helps create an emotional connection and tells the property’s story visually.
Let’s focus on how to snap photos that do more than show—they entice. From the right angles to the golden hour, every detail in the rental property listing photographs should be an invitation for potential renters to imagine their new home.
The Role of Staging
Staging transforms a rental property to highlight its appeal, using furniture and decor to enhance its features. This process can help the property stand out, attracting potential tenants faster.
Virtual Tours: A Modern Necessity
Virtual tours allow prospective tenants to explore properties at their convenience, providing a detailed sense of the space that photos alone can't match. This feature supports better engagement with the property, making it an attractive option for those with busy schedules or living further away.
Leveraging Rental Listing Sites for More Leads
Rental listing sites act as digital billboards, directing potential tenants to your client's property. With a variety of platforms available, selecting the right one can increase your visibility.
Free vs. Paid Listing Options
I've typically used free sites for my properties in the past, but there can be value in paid options since you can spotlight your property and potentially attract a more refined pool of tenants.
Syndication for Wider Reach
Syndication spreads your listing across multiple platforms with a single entry. Using various real estate websites and apps helps you reach a larger audience and increase the chances of finding the right tenant. Some popular platforms for syndicating your listing include:
Zillow rental manager
Trulia
Realtor.com
Apartments.com
Craigslist
The Screening Process: Finding Reliable Tenants
Securing a tenant is only half the battle. The next step is finding a reliable one, which you can do through your tenant screening process.
Application Requirements
The rental applications process helps you review the applicant’s history, stability, and financial reliability. It's best to ask potential renters to provide detailed information upfront so you can make the best choice for your client's rental property.
Conducting Interviews and Reference Checks
An interview helps you learn about a potential tenant’s character and compatibility with the property. Create a series of questions that you'll ask all potential tenants during the screening process.
Managed Application Screening
Consider RentZap’s managed application underwriting if you prefer not to navigate tenant screening alone and wish to guarantee compliance with legal standards. This service offers a streamlined and professional approach to vetting applicants, allowing you to concentrate on other property management areas.
Drafting A Fair and Legal Lease Agreement
A lease agreement outlines the expectations and responsibilities of both landlords and tenants, aiming to protect each party. It's important to create a lease that is fair, legal, and detailed, covering financial terms and specific conditions to prevent future misunderstandings and disputes.
State Regulations and Compliance
Follow state regulations when drafting a lease agreement since each state has specific laws. For example, areas like occupancy limits and landlord entry rights should align with local laws, maintaining the agreement's legal standing.
Security Deposit and Rent Terms
Security deposits and rent terms are the financial backbone of any lease agreement. Clearly explain the conditions for the security deposit and the rent payment schedule. These terms protect the property and set clear fiscal expectations for the tenant.
Marketing Your Rental Across Social Media Platforms
Social media platforms are effective for reaching potential renters, thanks to their vast user base. Utilizing both posts and targeted ads can increase your client's property visibility and make it more appealing to a wide audience.
Managing Inquiries and Showings
When your rental listing goes live and starts drawing interest, it's important to manage inquiries and showings quickly and systematically. This means responding to potential renters promptly and organizing showings in a way that keeps prospects engaged.
Responding to Inquiries
Quickly answer questions and provide information to keep potential renters interested. Using tools like automated replies and scheduling software helps prevent missing out on interested parties.
Choosing Between Open Houses and Private Tours
Decide whether to host open houses, which can save time and create a competitive atmosphere, or to offer private tours for a more personalized viewing experience. The choice depends on what works best for your property and meets potential tenants' needs.
Summary
Listing and managing a rental property involves multiple steps, each playing an important role in attracting quality tenants and ensuring a successful rental experience. From writing an engaging title and description to setting the right price, showcasing the property through photos and virtual tours, and promoting the listing on the most effective rental sites, every aspect contributes to maximizing the property's exposure and drawing in potential renters.
Attracting interested tenants is only part of the process. A solid tenant screening procedure and a legally compliant lease agreement help to minimize risks.
Applying the strategies outlined in this article and keeping up with industry best practices can help you lease out your client's rental property in no time.
Frequently Asked Questions
How does Zillow make money?
Zillow makes money by selling advertising space on its platforms to property management companies, real estate agents, mortgage lenders, and general advertisers, particularly those in the real estate industry.
Why is my rental not showing up on Redfin?
Your rental may not be showing up on Redfin because Redfin may not have access to your listing. The best way to verify your rental property appears on Redfin is to list it through the Rent Network, which includes ApartmentGuide.com, Rent.com, and Rentals.com.
How do you put value on a rental property?
To put value on a rental property, consider replacing flooring, painting, updating hardware, creating social spaces, upgrading garage doors, and improving the landscape. These improvements can enhance the property's appeal and potentially increase its value.
Comments(4)