How to Effectively Market Your Indianapolis Rental Property
Indianapolis rental property management is essential for many reasons, and the ability to effectively market your home is one of the main reasons you would choose to work with a property manager.
Every property management company will tell you how great they are at marketing your home.
It seems like most property managers don’t have a firm grasp on what it really takes, however.
Marketing an Indianapolis investment property is a big deal. Your vacancy rates and your days on market are important over the course of your investment. So, make sure you have a property management company that can use marketing to rent your home as quickly as possible.
Your property management company must cast a wide net.
Most companies do a good job of this; the home needs to show up on a lot of different websites where potential tenants will be. Property management software systems have a batching process that makes this seamless.
In general, most property management companies are understaffed and cannot do important things. You might have your property out there, but if your property manager doesn’t have the staff to respond to rental leads, you won’t rent your home quickly.
Inquiries must be responded to in a timely manner. Companies that don’t have a Realtor on staff to show the home seven days a week and on nights and weekends or a self-showing system in place will also suffer when it comes to marketing.
If you can’t get the showings, you obviously can’t get the home rented.
We also found a lot of management companies do not put your Indianapolis investment property on the MLS.
If you’re not listed on the MLS, ask why.
This will open your home to thousands of agents who can show your home. It’s another great avenue for finding potential tenants.
There are also self-service showings that can help, like a box from Rently. After a verification process, the tenant can get in through an electronic lockbox.
When you have more showings, you have more opportunity to get the home rented faster.
Days on market are critical for you as an investor. I challenge you to consider more than leasing fees when you choose one company over another.
Some will lease a home for little and others for a full month’s rent. There’s a difference, and generally the low leasing fees mean there won’t be enough staff to respond or do showings.