The average rent in Las Vegas in Q1 2023 was $1,430 a month - down 2.2% from the same time in 2022.
Rental properties can be great investments, but only if you make an effort to maximize your profits. Before you can start making an income, you need to find tenants, and this involves marketing your property.
There are various elements to effective rental property marketing. In this guide, we'll take a look at some key tips that will help you market your property well so that you have an easier time securing tenants.
Keep reading for more.
1. Research Your Market
With any kind of marketing, proper research is essential. You need to know the current market so that you can adapt to it properly. Some things you want to look into include:
- Rent prices in your area
- Maintenance and repair costs
- Average occupancy rates
You also want to make sure you look into the competition. In a tough market, you need to make your property stand out, and you can only do this if you know what other landlords are offering.
All of this will also help you understand what renters are looking for. You can then tailor your marketing so that it appeals to those looking for a new home in the area.
2. Focus on the Details in Your Listing
Most people head online when looking for a new home, so you should list your property if you want a lot of people to see it. A listing alone won't be enough, however. There are plenty of other properties available everywhere, so you need to make yours stand out.
Professional photos on your listing will help your home look more appealing than the competition. You want to make sure the information you provide is suitable. Detail all the important information such as property size, room details, neighborhood, etc.
You should also highlight any additional features that may not be present in other homes that will attract renters. This includes things like pools, decking, solar energy systems, and recent renovations.
3. Invest in Professional Services
Professional rental property marketing services have the knowledge and experience needed for effective property marketing. They know what should go into a rental listing to garner the most interest from potential renters.
They also know what kind of state a property should be in. They may be able to suggest renovations, maintenance, or improvements that will make your property far more appealing.
If you do need any work done or want to make some upgrades, they should be able to suggest businesses and contractors from their extensive network. They may even be able to get you a better price than usual.
A property manager can optimize your listing to attract the attention of renters. They can also help produce other marketing content like print ads and brochures. When you do find tenants, they can assist further with various other property management services.
Professional Rental Property Marketing
If you want to have an easier time finding tenants, proper marketing is vital. Avalon Realty is a professional Las Vegas property management company.
We've been helping landlords in Las Vegas since 1930 and can offer rental property marketing as well as various other property management services. Contact us today to find out more about what we can do for you.