The best way to market your rental property is to showcase its value.
It does not matter what features your rental property has – or does not have, for that matter. There is always going to be someone out there looking for exactly what you have. Maybe they know it, maybe they do not. It all comes down to your ability to show the value in the space and make your future tenants think they need it.
Show them how great the rental is by showing every way it can benefit them.
Look, there are some rental properties that investors find that have strange quirks about them. Who knows what the original homeowner was thinking when the home was built? For instance, have you ever seen some of these traits in a property:
- A tiny closet in the kitchen that would seemingly be a pantry but is too small to really hold much at all?
- A bedroom that could not hold much more than a twin bed?
- A half-bath with no sink?
- A space off to the side that is too small to be a living room or a dining room, but not small enough to not be noticed?
What may seem like an unmarketable quality or even an eyesore can easily be made into something beautiful or something of value with the right touch. Or even just the right words.
Check out these simple ideas:
Using some organizational tools and light paint could turn that tiny pantry into a usable structure. Many homes do not even have a pantry – and by making it usable, you can market it as such.
The bedroom that doesn’t hold much more than a twin bed? Well, who says that needs to be a bedroom at all? Market it as a home office or children’s play area. This will change the view and mindset of those considering the rental, making them find value in that tiny space.
If your half bath has no sink, find something to put in its place – even if it is a tiny solution.
Creating small, cozy reading spaces in odd empty areas is another great idea.
Not all rental properties are ideal, but that does not mean you can’t find value in it. Get creative in the way you present the property to future tenants and you will find that no one will ever notice its oddities – only its value.
Marina Shlomov, a managing partner at ALH|Podland Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out atwww.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.