Finding qualified renters, particularly for midterm rental properties, is a unique challenge that may require innovative marketing strategies. Midterm rentals, which accommodate tenants for several months but less than a year, often appeal to a distinct demographic such as business professionals, remote workers, or families in transition. To effectively reach these potential tenants, traditional marketing approaches may need to be supplemented with more creative solutions. Here are 3 out of the ordinary ways you can advertise your rental property, specifically tailored to attract the midterm rental market:
Use other businesses.
- You can use other businesses to market your rental property in a variety of ways that are beneficial to both you and the other business. This will take time and research. One key way to do this is to find out which companies in your city are the largest employers. Reach out to their HR or recruiting team and let them know you are a landlord with properties and ask if they may be willing to refer your property to new employees who are relocating. Some companies keep a list of elite properties that they will use for relocation packages. Another way to use other businesses is to partner up, and they provide discounted or free services in exchange for advertising or other benefits. One example of this would be working with a small local gym and securing a discounted membership rate for a few months and, in exchange, you will market the gym to all your potential tenants. This gives you a benefit you can provide to attract new tenants and also gives the company exposure.
Waze
- For as little as a few dollars a day you can advertise on the navigation app, Waze. They have multiple ad solutions available and if you have a website with your properties listed, this may be a good fit for you.
Safe 2 Save
- A new app called Safe 2 Save is partnering with businesses to promote safe driving, specifically, providing rewards to drivers who don’t use their phone while driving. The app offers 3 ways businesses can partner: offering rewards, sponsoring a competition or promoting health/wellness in the workplace. Sponsoring a competition would be a great way for landlords to get exposure in the community while also giving back to their local community as well.
As the number of rental properties being advertised grows landlords will have to continue to search for new ways to advertise their rental properties and reach potential tenants. As a landlord don’t be afraid to try something out of the ordinary and take a risk to market your business.
More by Rebecca Moseley: Virtual Reality Poised to Revolutionize Homebuying
Rebecca Moseley is a freelance journalist, marketing consultant, and real estate student. Visit her website at RebeccaMoseley.com to contact her and see more of her work.