Renting out your property in Ontario can be an extremely profitable venture. After all, as Canada's second-largest province, Ontario is one of the most sought-after areas to live in by tenants. However, with so many rental properties already in the area, it can be difficult to attract tenants. That’s when rental property marketing comes in handy!
With a good advertising strategy, you can make your rental property stand out from the rest, significantly increasing your chances of finding great tenants quickly. Don’t know anything about rental property marketing? Don’t worry, the team at Rent In Ottawa Property Management has you covered!
Keep reading for the best tips to advertise your Ontario rental property successfully.
1. Get the Property Ready for Tenants
The condition of your rental property is crucial when looking for new tenants. After all, tenants want to live in a property that looks like someplace they can call home. So, before you even create a listing, you must ensure that your property is in its best condition.
First, you must deep clean the entire property and make any necessary maintenance and repairs. Then, you can focus on cosmetic upgrades, such as adding a fresh coat of paint to the walls, upgrading the floorings, adding new fixtures, or refreshing the curb appeal.
We recommend investing in quality renovations like newly renovated kitchens or bathrooms. They are a selling point that will make your rental stand out from the rest!
2. Take High Quality Photos
The first thing prospective tenants will look for in your rental listing will be the photos of your rental. If you include grainy pictures, or even worse, don’t include any photos, prospective tenants will be more likely to ignore your listing altogether.
Taking high-quality pictures of your rental will not only help you attract more potential tenants but also give you a competitive advantage. Plus, you can do it yourself without having to invest in a professional photographer or fancy equipment.
Nowadays, most smartphones have quality cameras. All you need to do is ensure you have good lighting and play around with the angles to showcase your property’s best features.
3. Set Competitive Rental Rates
Knowing how to price your property is a must. Charging too little can help you attract tenants faster, but it might lead to a negative cash flow at the end of the month. On the other hand, charging too much can drive prospective tenants away.
Before listing your property for rent, you must do some market research. Browse popular real estate sites to see how much other similar properties in the area are charging for rent. This way, you can set a competitive price that won’t break your tenant’s wallets and won’t leave you with negative margins.
4. Write a Good Rental Listing
A bad copy can significantly decrease your chances of filling your vacancies quickly. After all, your rental listing is what ultimately convinces or deters prospective tenants from renting your property.
When writing your rental listing, it’s important that you start with an attractive heading, as this is the first thing that will catch potential tenants’ attention. You can’t go wrong by giving a brief description of the property, including location, number of bedrooms, and unique features.
When it comes to the description, less is always better. A lengthy text will make you lose prospective tenants’ attention quickly. That’s why it’s best to keep it brief. A good way to do this is to outline all the information using bullet points! This will make it easier for tenants to see and remember your property’s unique characteristics.
5. Build an Online Presence
Nowadays, most tenants look for housing primarily online. Publishing your rental listing on several popular real estate listing websites will help you attract a wider pool of tenants. However, this is not always enough.
Once you post your listing, you must advertise it. A great way to target a larger audience is to run ads on social media. Facebook, Instagram, and even YouTube are great platforms to advertise your rental property. Whether you create targeted ads or simply create a post to market your property, this can go a long way.
Building an online presence can help you create a strong reputation as a landlord which can help you attract more tenants in the long run.
6. Don’t Disregard Traditional Marketing Strategies
While most tenants prefer to browse listings online, traditional marketing strategies are still very useful. For instance, placing a “For Rent” sign in your yard it’s still a great way to attract tenants. Bypassers might show interest in your property or recommend it to someone looking to move into the area.
Other traditional strategies that you shouldn’t disregard include posting an ad on your local newspaper, property showings, and word-of-mouth marketing. After all, you never know when your family, friends, and coworkers might know of someone looking for a new place to call home!
7. Work with a Property Manager
Hiring a professional property manager can make your life easier as a landlord. More importantly, it can help you fill your vacancies faster. These professionals have years of experience renting properties, so they know how to help you attract a wide pool of prospective tenants in no time.
This way, you’ll be able to enjoy all the benefits of owning a rental property without getting into the nitty gritty details!
Hundreds of properties are listed up for rent in Ontario every day. Making your property stand out from the rest might not always be easy. But it’s not impossible. By keeping your property in good condition, writing a good listing, taking quality photos, and building an online presence, you can successfully advertise your rentals.
With these strategies, you’ll be able to attract great tenants in no time, keeping your rental business profitable in the long term! Do you need help marketing your Ontario rental? Contact Rent In Ottawa Property Management today!
With several decades of experience, we’ve learnt what tenants are looking for. So, you can rest assured that we’ll get your property rented in no time. Reach out to us today for more information!