Property investments are, by far, the favourite type of investments. They offer all the advantages of a tangible asset, which makes them not only easy to manage but also accessible to newcomers to the investment world.
Indeed, stock exchange markets and cryptocurrency investments require in-depth knowledge of the market and its tools. Properties, on the other hand, while they are linked to a complex set of regulations and taxes, are a thing of everyday life. After all, we all know what a home looks like.
Consequently, more and more amateur investors are starting their rental business in an effort to build an additional source of revenues. That’s when they consider an essential question: Should they work with a real estate agent? While it’s not recommended to start your rental side hustle without any support, there are options that let you grow your business without the help or the commission of a realtor.
Promoting it effectively
First of all, the primary function of a real estate agency is to promote your property to the market. Letting a property is, thankfully, a lot easier than selling. There is a lot of demand from short-term and long-term tenants. Therefore, you can get noticed as long as you build a strategic online presence.
You will typically find property rental websites that can publish your ad for a small fee – it’s a good idea to start there. But, you can also build a dedicated website about your rental. You can even add a blog to keep your site relevant.
If you make the most of your keywords, both in the text and as WordPress tags if using the platform, you can significantly improve your ranking and indexing. Additionally, a geotargeted advertisement can also maximize your visibility for users in your location looking for rentals. Using Google AdWords, you can set an effect PPC campaign.
Who’s looking after your property?
Real estate agents are also the best contact when you need someone to manage your property. If your rental is in the same area, you can choose to manage it yourself, by organizing visits and welcoming your tenants. Similarly, there’s the problem of housekeeping and maintenance, especially if you focus on short-term lettings.
For apartments and homes that target a specific audience such as holidaymakers or business people, you know that you need to boost your services as a landlord/landlady. You will need to work with specialists that provide dedicated guest hosting, that makes sure all your guests are looked after. Concierge services are, indeed, sought-after by many guests who want an effortless stay.
Making the improvements that appeal to your audience
Last but not least, there’s an important distinction to make between short-term and long-term decors. Indeed, tenants who are looking for long-term rentals require specific appliances for their comfort, such as a washing machine and a fully equipped kitchen with a hob and an oven. Additionally, you should invest in decorative elements that make the space feel homely.
A successful rental business promotes a service that is not only easy to find but also appealing to the audience. As a landlord, if you are to convince your guests without working with a realtor, you need to make sure you understand your audience, both in terms of their search preferences and their needs. The reason why platforms such as Airbnb are popular is that they offer a direct connection between you and the guests.