Entering into the real estate market as a condominium owner can be a lucrative and savvy move. The industry is booming, and you can see a large profit if you fill your units quickly.
However, while there are plenty of high-quality renters looking for their next home, the competition is fierce, particularly in the GTA. Without a canny marketing strategy, you may struggle to find suitable tenants.
Here are 5 condo marketing tips on how to market a modern condo and get it filled fast.
1. Highlight Your Recent Modifications and Improvements
Most renters will be attracted to condos that offer the latest and greatest. Treat new appliances and modifications as highlights. In your property listing, draw attention to the latest improvements you’ve made to the unit.
By highlighting the newness of your property, you’ll immediately put yourself above your competition. You’ll also create the impression of being the type of landlord who frequently upgrades their units.
2. Engage on Social Media Platforms
In this day and age, no marketing campaign can avoid social media. Platforms like Instagram, Twitter, and Facebook are fantastic ways to reach a wide audience with your property listing.
Social platforms make it easy to establish a reputation and become a familiar property rental brand. Soon, renters in the GTA will recognise this brand, and come to think of you as a great place to start their hunt for their next home.
Find out more about using social media as a marketing tool here.
3. Research Your Competition
Marketing trends can change and shift quickly. Even though you may not be a professional in the field, you can still stay on top of real estate marketing trends with some simple research. Find out what your competition is doing in order to succeed.
Become familiar with the types of images, blurbs, and ads that are attracting attention. A simple way to improve your own marketing strategy is to emulate what you see.
4. Invest in a Professional Interior Designer
By hiring a professional interior designer, you’ll optimise the way your unit looks. Professional interior design can immediately transform a basic condo into a stylish and sophisticated home. Renters will be instantly drawn to the images of the unit when they look like they were taken straight from a magazine.
Regardless of whether your unit is being advertised as furnished or unfurnished, streamlining the design for your marketing photos will show off your product in its best light. By showing off a well-designed apartment, you’ll take the guesswork out of the equation as renters won’t need to imagine or visualize how they could make the property attractive.
5. Use an Email Marketing Strategy
Email marketing is a surprisingly effective way to grab readers’ attention and publicise a new property. Start by gathering the emails of potential tenants in the GTA. A great way to accumulate a list of emails is to offer a special deal in exchange for the email address. In the real estate industry, this offer might be a free PDF guide to renting in Toronto, or it could be a discount with a moving company.
Once you’ve got a good email list, you can begin to send a weekly or biweekly newsletter containing images and details about your newly available condos. Email marketing is a great way to advertise a modern condo in the GTA. The majority of renters in the GTA looking for modern condo rentals are young professionals. Studies have shown that a high concentration of condominium renters are under the age of 35.
This means that your target audience should be renters in the millennial age group. Email is a great way to connect with this demographic. Studies have shown that millenials prefer email communication, and that they are more likely to be won over by a promotional email, so it’s well worth making use of this easy, free marketing tool for your modern condo.
A Property Management Company Can Help. Contact Del Condominium Rentals
If the very idea of marketing your rental unit sounds like a nightmare to you, we are here to help. We are a property management company with decades of experience helping landlords in the GTA take care of every difficult task that comes with the job.
Our services include:
- High-quality property marketing
- Thorough tenant screening
- Rent collection
- Legal advice and services
- Property inspections
- And much more
If you’re ready to say goodbye to the complicated and stressful life of the independent landlord, we can help. Find out more about our services by calling 647-952-3644 or emailing firstname.lastname@example.org
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