Listing a rental property could jumpstart your revenue and quickly fill your empty units. Although it’s not difficult to do, there’s a process to follow that maximizes your results. Here’s how to get started in six easy steps.
1. Choose the Right Platform to List Your Rental Property
There are several platforms to list your rental property. Here are a few to consider and what they offer.
- Brixbid: We make listing rental properties and finding reliable renters easy. That’s why over 1200 listings get viewed on our site every week. Set your price, review background checks, and execute your leases online.
- Zoopla: They help you list rentals and provide real estate agents with advertising opportunities.
- Apartments.com: This platform helps you post rental properties and find tenants.
- Avail: Avail helps you find tenants and look at credit history and leases.
It’s possible to list apartments on several platforms, but it could slow down the process. For example, managing your listings and tenants across multiple platforms takes up time. Try starting with just one to see how much interest you get.
2. Attract Renters With a Unique Title
Remember, renters are looking at dozens of apartments online and in person. Create a unique title or slogan for your apartment to catch your audience’s eye.
It’s best practice to label how many bedrooms, give something unique, and mention the location in the title.
- Affordable 2-Bed in Hyde Park Neighborhood
- Chicago Luxury Studio Near Millennium Park
- Spacious 1-Bed in Wicker Park with A/C
3. Collect Every Piece of Information About Your Property
Listing a rental property requires being transparent about your amenities and features. Make sure renters know the square footage, condition of appliances, views, shared spaces, and the parking situation.
The more precise your listing is, the more likely you’ll find an eager tenant who understands what the property is really like.
4. Highlight the Best Features and Perks First
Giving tenants all the possible information is essential, but you should still list the best features and perks first. Describe the best amenities in the apartment or building, like a rooftop terrace or new appliances.
Mentioning the neighborhood and what’s nearby can also attract the right renters. Being close to transportation hubs and local attractions can be a good selling point. You can also talk about the surrounding shops, restaurants, and bars to let potential tenants know what to expect around the neighborhood.
5. Be Upfront About the Rental Process
There’s no point hiding fees and requirements in your listing. The sooner you let tenants know what to expect, the sooner you’ll find the right ones. Being transparent about the necessary expenses doesn’t just save you and the tenant time. It also speaks volumes of the kind of landlord you are.
Listing these when you’re advertising a rental property can help prospective tenants:
- Any upcoming apartment tours
- Application fees
- Security deposit
- Pet deposit (and any breed restrictions for dogs)
- Income requirements
- Need for any previous rental history or references
- Noteworthy rules about the apartment or building
It’s also wise to inform tenants if they’ll interview with you or a property manager. Keep them posted about timelines and when you will decide on a tenant.
6. Take Great Pictures
Your photos are usually the first impression renters have of your apartment. They’re a major selling point and can attract–or scare away–potential tenants.
There’s more to snap than shots of your amenities and apartment. Consider adding photos of the neighborhood and nearby attractions.
Fortunately, you can capture great photos with just a smartphone. Rent out your apartment faster with these rental listing photo tips.
7. Set Your Rent Price
Setting the right rental price maximizes your profits while attracting more tenants. Your best bet is to check listings for similar apartments in the same neighborhoods. Look through Brixbid’s online listings to get an idea of what to charge in different areas of Chicago.
The price of your listing can also change based on the view, amenities, and floor levels. The higher the floor, the more desirable the apartment is, unless you’re renting out a walk-up.
You should also account for rent negotiations. While some renters accept your asking price, more often than not, prospective renters will try to negotiate. Be receptive to their numbers, and come to an agreement that works for both parties.
Consider the Season
The time of year you list your apartment also makes a difference. Spring and summer often see an influx of renters. The winter season is also slower. And if you rent near a college, timing rentals when students move in or out could also require tweaks in your rental price.
8. Share Your Listing on Social Media
Congrats! You took great pictures, decided on an asking price, and listed your rental property. But, the work doesn’t quite stop there.
The more people see your listing, the higher your chances of finding a good tenant will be. Promoting your rental on social media channels can boost its visibility. Ask your friends, family, and followers to share, so even more people can see your listing..
List Your Rental Property on Brixbid
Listing a rental property is infinitely easier with a simple step-by-step guide. And at Brixbid, our goal is to make the experience as seamless as possible for you. And we don’t just stop at promoting your listing for free.
You can complete the entire rental process on our platform.
Arrange viewings, complete background checks, negotiate the price, and sign the lease all on Brixbid. Create a listing to get started using Brixbid’s apartment listing platform!