It’s still kind of a landlord’s market, but you’re not the only person looking for a passive income via rental properties. There’s a lot of competition out there, and every day you have a vacant property you’re losing money. In an ideal world you have long-term tenants who always pay on time and never kick up a fuss when you have to raise the rent. However, those situations are few and far between.
The best way to ensure low vacancy rates is by depending on a quality property management company, which easily pays for itself. However, even landlords with property management companies like to do their part to help fill a vacancy. The more people you have working towards a similar goal, the better. Are you optimizing the use of social media to find your next great tenant?
Start by creating a professional profile for yourself, even if you have “only” one rental property. Tenants want to see that they’re renting from a professional (which is also why it’s crucial to have a property management company). If you situate yourself as a top landlord in the area, you’re already ahead of the game. Choose your SM platforms based on popularity in the region with Facebook, Twitter, Instagram and YouTube often in the lead.
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This is your opportunity to showcase your property. Video walk-throughs, aerial photographs and bullet point lists of features are all great. Make sure to highlight the upsides to the neighborhood, too, such as good school districts or access to parks. However, in the very beginning you need to build your audience. This is when your customer service skills come into play.
Using a dashboard like Socedo instantly connects you to Facebook and Twitter users who have recently used key words, phrases or hashtags that complement your landlord business. For example, you can search for profiles that have used the term “rental property” or any other key phrase you like. You’re then matched to hundreds of people locally and can auto send messages that use their first name and the phrase they used; it’s a way to make a custom message inviting them to follow you without wasting precious time.
Just because a person isn’t actively looking for a rental right now doesn’t mean they won’t be in the future. Following social media business best practices such as only posting once per day and during the “right time” (which is dependent on your market, but most often late mornings or mid-afternoons). Start building a roster of potential tenants today for future vacancies.