Thursday, January 11, 2018

Make your rental property stand out from the pack!

Can you believe we are already heading into mid-January? Right now is a busy period for renters and the race is on to secure quality tenants for your property. This is the key to minimising your investment risk. 

The first step is understanding tenants' needs and ensuring your property remains attractive and achieves premium rents. Especially when there is a lot to choose from. 

Across our five leasing hubs, we see first-hand what tenants are looking for. The key items are: air conditioning, built-in robes, a dishwasher, onsite car parking and a gas cook top. Ensuring your property has some (or ideally all) of these items will make your property stand out to prospective tenants.

The second is having a strategic marketing plan for your property. If done correctly, a marketing campaign will not only attract the largest number of quality tenants to your property (as opposed to the investor's property down the road) but will also help reduce downtime, ultimately adding to your bottom line.

At Toop&Toop we are passionate about property marketing and the positive impact it has on achieving exceptional results for our clients - both in Sales and Property Management.

And here's why...

Our team recently launched a property in College Park with a marketing spend of $1,400. The leasing agent received a number of strong applications. The property was leased after being on the market for just 12 days, and achieved a rental amount of $1,500 per week, well above the owner's expectations! With an industry time on market of 40 days, the reduced vacancy time was a saving of $6,000 to our landlord.

Investing in effective marketing campaigns can be a new way of thinking for many landlords but we've seen the results. The return on investment is higher for those who do, and a strategic approach to property marketing is proving to add dollars to investor's bottom line, not subtracting from it.

For Toop&Toop landlords, we have the best global tools in property marketing at our fingertips. ToopCreate offers landlords high quality professional photography, 3D floorplans and even the ability for tenants to visualise a home before moving in. 

ToopCreate gives tenants the power to digitally furnish and decorate their perfect living space online too. Tenants can drag and drop furniture onto an interactive and dynamic floor plan, giving them the ability to start planning where their couch will go, or confirm that their queen-size bed will fit in the third bedroom... all before actually attending an open inspection!

If you want to make your rental property stand out this January, be sure to give one of our team a call today, because investing in the right marketing tools can drastically reduce your downtime and add to your back pocket.

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