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Find Your Target Market For Rental Properties With These 5 Tips

target-renters

When listing your property for rent, think of the type of audience you want living in it first! While you will feel like considering a lot of people before choosing a selected audience and demographic, it will help to keep the types of people who are not suited to your property at arms length.

Once you have your target audience, its time to consider what types of things they need and want from a rental property, and how you can provide it to them.

But who are your ideal renters?

The experts at Bricks+Agent have put together some steps to help you target your audience.

1. Visualise demographics

Look a current statistics of the market you are going to target. This will give you a clear idea of who you should be promoting the rental property to and how. Different facilities might appeal to different tenants, and they search in that way. So, use marketing tactics to list apartments for rent following your audience’s needs. Think about factors like age, education, hobbies, interests, occupation, and more.

Students

  • Students look for rental properties that give them the opportunity to live with many people in order to save costs. They also tend to look for the houses near the nightlife and shops.

Qualified and working professionals

  • Generally, they look for at least one plus bedroom properties and reasonable value for money.
  • As they are more mature than students and in full-time employment, there is a level of reliability and security renting to this target group.

Families

  • This type of renter tend to need two or more bedrooms, outdoor area,  parking space and storage unit for belongings. They are happy with unfurnished homes as they have their own furniture. 
  • They are extremely stable and generally rent for long-term periods.

 

2. Think of reasons why rents choose you

If you already have a tenant, think of reasons why they are staying with you. Ask them to review the property and why they have chosen you over other homes for rent. Doing this will help you target your next renter, and you will be able to highlight specific areas of your home.

Ask them questions like is it the community that attracts them, property’s rent, the amenities or the location.

 

3. Keep a record of benefits and features

Highlight things smartly! Since you know why renters have chosen your property, distinguish them from benefits. For instance, if you are renting two bedrooms, its benefits would be aspects like spaciousness and privacy. However, things like WiFi and central air conditioner are features and will not attract working people who are mostly out on the business.  

 

4. Make renters feel at home at first site

Finding the right place to live is always a tiring experience for many renters, and when they had a bad experience, the pressure increases. So, instead of sounding a typical landlord, be genuine and welcoming. Let your potential renters first visit to a rental property happy and memorable.

 

5. Don't sound like robots

State things in the description as if you were inviting a friend. Try building trust and be empathetic. If your rental properties have any minor flaws, pinpoint them, and share the ways to resolve them.  Remember to build a genuine connection between the renter and landlord; don’t sound like robot ordering other persons.

It takes a bit of hard work to reach out to your audience. However, once you find them, your property will no longer be vacant.

For more useful insight and advice on renting advice, sign up to our newsletter below!

Topics: Property Services, Property Management Advice, Home Improvement, Property Advice

Rafael Niesten

Written by Rafael Niesten

In his early 20s, Perth local Rafael Niesten, won a scholarship to study in Canada, with that came the opportunity to volunteer at a local radio station. That spawned his entrepreneurial streak, returning to Perth in 2001 he set up community radio Groove FM. More by luck than design, they became successful, too successful as they took a significant chunk of the Perth Market. This sent up the red flag with his commercial competitors who saw to it that he came before the Australian Broadcasting Authority and on technicalities such as the number of volunteers he was forced to move on. He received the citizen of the year award for Western Australia (youth) and was a finalist in the Australian of the year awards (Youth). Falling on his sword he turned to running small and large scale events, all the while buying, renovating and selling properties. Buying and selling land and renovated houses provided a grounding in the property industry. He founded a cloud based medical grade voice recognition company, followed by co founding the first true cloud application for private practice in the health sector. He successfully exited these ventures at the end of 2016 and began building Bricks+Agent.

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