Compared to ten years ago, almost twice as many middle-aged adults are renting property in the UK, and according to the latest English Housing Survey, a fifth of the UK population now lives in privately rented accommodation. This is good news for landlords of rented property, however, it’s still important for them not to become complacent. Older renters are discerning and may require extra facilities, and with government statistics reporting median rents last year of £675 per month, landlords simply cannot afford to have empty houses in between tenants. By increasing their online presence, landlords can broaden their business’s horizons by reaching out to many more potential tenants and directly targeting specific audiences.
Making the Most of Social Media
The Internet is a great way to reach a larger market and simply listing a property on Facebook, tweeting about a new rental opportunity on Twitter or posting photographs of outstanding features on Instagram can entice individuals fitting a specified demographic. Using accessible, far-reaching and 24 hour online portals can reduce the need for letting agents, freeing up money spent on fees for extra independent promotion. In 2018, 46% of adult internet users watched videos on demand from commercial services so a social media presence can also be an effective window for paid advertising. This is where properties with additional aspects appealing to a wider audience will stand out. For example, with an increasing number of tenants with mobility issues, providing accessible housing can help attract more potential tenants to a property.
Offering Virtual Tours
Although 3D virtual tours are being used more by online estate agents, uploading a simple video tour of a rented property to a website is also a very useful marketing tool for landlords. Virtual tours allow viewers to explore a house on their own without distraction, making it easier for them to imagine living in the property. Viewing like this can give a real feel for a property and, for anyone looking to move quickly or who has difficulty getting out and about to view properties, it can save a lot of time and hassle. It is also effective in capturing potential tenants from remote locations.
Keeping it Local
Although reaching out to a larger audience can be of benefit, the majority of renters will be looking for a property close to where they live and work already, and landlords can still target these potential tenants in their local area, even digitally. Property professionals have traditionally advertised in print newspapers at national and especially local level but, with a massive decline in newspaper sales, online portals are more important than ever. Many local communities now host websites and online forums where they share neighbourhood news and information. By contributing to these sites, landlords can directly address people in the areas where their properties are located and this can lead to finding tenants faster and more effectively.
There is an ever increasing number of people, of all ages and from all walks of life, wanting to rent a property. With such a large market, reaching potential residents using effective digital marketing will ensure landlords can match the right tenant to the appropriate property in their portfolio.