We’re in a period where the Las Vegas rental market is moving pretty quickly. There’s a huge demand for well-maintained rental homes, especially single-family homes, condos, and multi-unit homes in small buildings.
When you have a property that’s desirable to a lot of tenants, it probably seems like you hardly have to do any marketing at all. You simply need to create a listing and splash it all over the internet, right?
We’ll, it’s slightly more complicated than that. Remember – you’re not looking for just any tenant. You’re looking for a high quality, well-qualified tenant who can be trusted to pay rent on time, take care of your home, and follow the terms of the lease agreement. You want an honest and responsible person who is willing to communicate and likely to stay in place for more than one lease term.
Identifying and attracting those great tenants depends a lot on marketing.
You also want to market and advertise your property strategically because it impacts your bottom line. Good marketing reduces vacancy costs. It’s important to leverage every marketing tool and tip you can.
Most tenants in Las Vegas are looking online for their next rental property. They’re hoping to find great photos, an attractive property, and a competitive price. When it’s time to schedule a showing, they expect responsiveness and convenience.
Here are some of the best ways to market your property, based on our experience as Las Vegas property managers.
Provide a Rent-Ready Las Vegas Rental Home
All the marketing in the world won’t matter if you don’t have a property that people want to rent.
You have to think about what you’re offering. Is your rental home in a good location? Is it well-maintained? Does it look attractive from the street when people drive or walk by it?
Don’t make the marketing process harder on yourself by trying to advertise a home that still needs work. You want to provide a rental home that’s move-in ready, otherwise tenants aren’t going to bother looking at it. Make sure all your repairs and updates are made. Have the home professionally cleaned so it’s ready to show. It needs to be welcoming and attractive.
It’s a good idea to put together a checklist of things you’ll need to do before you can effectively market your vacant rental home. Some checklist items include:
- Changing the locks
- Fixing any cosmetic or wear and tear items such as nail holes in walls, caulking around tubs, etc.
- Fresh paint
- Clean or new carpets
- A thorough inspection to look for larger maintenance needs
- Landscaping refresh
- Professional cleaning
It’s important that you don’t show the property before it’s move-in ready. When you’re giving prospective tenants a tour and all the kitchen appliances are missing, they won’t have a complete picture of what it will be like to live in that home. Don’t promise that you’ll fix the imperfections. Fix them before you market your property.
Price Your Las Vegas Rental Home Competitively and Accurately
It might not seem like pricing is part of any marketing strategy, but it plays a big role. Tenants search for their next rental home based on price. They won’t bother looking at homes that are outside of their budget. They also know the market and they won’t bother looking at homes that are overpriced.
You have to include your rental amount in all of your marketing. There’s no point in attracting attention from tenants who cannot afford your rent. Before you post listings with the rental amount, make sure that rental value fits the current market.
The market always drives your price. Sure, your location can increase or decrease what you ask. New amenities or upgrades in the home will allow you to ask a little more. But, the market will tell you where your rental range is, and you have to respect it if you want to attract good tenants and avoid long vacancies.
A competitive and accurate rental value will help your marketing by reducing the amount of time you have to do it. Look at your competition and make sure your own rental value isn’t too high or too low. There’s no need to guess. You can take a look at what similar properties in your neighborhood are listed for on the same sites you plan to use.
Professional Photos for Your Las Vegas Rental Property
Tenants are going to look at the photos before anything else when they come across your listing. You have to give them a good first impression if you want them to show any interest. As they scroll through hundreds of rental homes, your photos are what will get their attention. Leverage this by providing professional-grade pictures. You can even provide a video tour.
Hiring a professional photographer probably isn’t necessary, especially considering how great some of the updated cameras are on our smartphones these days. Just make sure you’re making good use of natural lighting and shooting photos from the right angles so rooms look large, bright, and inviting.
Don’t skimp on the number of pictures you include in your rental property marketing. At the very least, you’ll want at least one photo of:
- The outside of the house
- Any outdoor space
- The kitchen
- Close-ups of appliances
- Living areas, including dens and dining rooms
- Special amenities such as fireplaces, security systems, pools, or attached garages.
If you’re good at taking videos, consider using those as well. These can be especially useful on social media platforms when people are sharing your listing. Tenants who can watch a video walk-through will already know what to expect from your property, and if they schedule a showing, you’re more likely to get an application from them. Videos are also great for out-of-state tenants who may be relocating to Las Vegas but can’t come out to look at homes before they rent.
Write a Detailed Rental Property Description
What pairs well with great marketing photos? A well-written description.
You want to provide all the information a prospective tenant needs, but you don’t want to write long paragraphs that no one can bear to read. Be concise and descriptive. You might have potential tenants who love your photos. They’ll want to know what your square footage is, how many bedrooms there are, and whether lawn care or pest control is included. That’s why your description is so important. It provides information that tenants will use when they’re deciding whether to schedule a showing.
List of all the features your rental property offers. Put down the obvious things like the number of bedrooms and bathrooms, as well as other details like the size, and whether things have been updated or renovated. Include the most important rental terms. Mention how much rent will be and what you’ll require for a deposit. If you’re allowing or prohibiting pets, be sure to mention that.
Don’t forget your contact information. Let tenants know how to contact you, and if you offer self-showings, provide instructions on how to navigate that.
Syndicate Your Listing on Popular Rental Sites
Once you have the listing ready to go, post it online.
Most tenants in Las Vegas are using sites like Zillow, Zumper, HotPads, Rent Café, PadMapper, and Rentals.com. It can be time-consuming to post your ad on every available platform. Working with a Las Vegas property manager, you can leverage their software to quickly syndicate your listing on all the popular rental sites. It saves time and money.
A lot of owners and landlords use Craigslist, and there are a number of good reasons to post a For Rent listing there. You’ll get a lot of traffic from prospective renters. However, the ease and accessibility of that site also leads to the potential for scams and your listing could be stolen by someone hoping to make money off properties that aren’t theirs. Be wary. Watermark your photos if you can.
Provide Responsive, Convenient Showings
With a strategic marketing plan in place, you’re likely to generate a lot of interest in your Las Vegas rental property. Tenants will likely be calling and emailing to ask questions or schedule showings.
Be responsive. You have to answer the phone, respond to emails, and return messages. Provide self-showing technology like lockboxes or digital keys if you’re not able to show the home in person. Tenants are likely to appreciate the privacy of seeing a home on their own, when it’s convenient for them. Always follow up by asking if they’d like an application and offering to answer any questions.
These are some of the best ways to market your Las Vegas rental property effectively. As professional property managers, we’re able to do all of this quickly and efficiently. We are always willing to help owners when it’s time to find a new tenant.
If you’d like to talk about our marketing process and the difference it can make, please contact us at New West Property Management. We’re passionate about the services and value we provide to the owners and investors who trust us with their properties. Our team expertly manages residential rental homes in Las Vegas, including Henderson and North Las Vegas.