In today’s digitally connected world, online reviews are salient to long-term rental property success. Great online reviews can, definitely, give your property the competitive edge you need to seriously boost your occupancy rates, while negative reviews can cast prospective tenants away.
For real, the majority of renters today will initially check online reviews in advance of further scrutinizing a property. This makes cultivating positive reviews a significant task for rental property owners and managers alike. Read on to discover more about online reviews’ impact and reap actionable tips to leverage reviews for your complete benefit.
The Power of Online Reviews
One of the first things to understand about online reviews’ role in the rental market is how much renters depend on them to make decisions. In today’s digital world, online reviews move much like a large community board, sharing helpful and necessary information with regard to businesses, activities – and landlords.
Renters are far more likely to trust the review of another renter over anything shared or stated by the property owner or manager. Precisely why, positive reviews are a rental property owner’s most valuable asset, as well as a key marketing strategy. Positive reviews help build credibility and intensify a property’s visibility on search engines and listing platforms. All of this will lead you to attract and keep the high-quality renters you wish to lease to.
The Ripple Effect of Positive Reviews
More than the obvious face value of positive reviews, there are other advantages, on top of that. Like for instance, a healthy number of positive reviews send an explicit message to renters that your property is well-managed, and that you endeavor to always make certain your residents enjoy living in the property. With so many nasty landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews makeup of the ability to fill vacancies faster, and put up premium rental rates. Allowing that rental rates should consistently be determined from thorough market analysis, an in-demand property can, with little effort, indicate a rate at the higher end if renters are utterly fulfilled with their rental experience.
Encouraging Tenant Feedback
There are different ways that a rental property owner or manager can, without difficulty, encourage renters to leave positive online reviews of the property. Really, one of the first and most uncomplicated proceedings to do so is to easily ask for them! If you’ve put in much effort to have regular positive interactions with a tenant, asking for a review makes plenty of sense.
For convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and cordially ask them to comment on their experience. You especially don’t have to wait until a renter moves out to ask for an online review. Rather, better to ask satisfied tenants to leave reviews at relevant moments, including after you’ve endeavored to complete a maintenance, upgrade, or repair request. Ensure to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
Not very often but despite your best efforts, residents may have left a negative online review about your property. When that happens, the basic and proper thing you can do is maintain your professionalism. Be sure not to get defensive or accuse your renter of wrongdoing. This will definitely backfire and cause you to lose credibility. As an alternative, address negative reviews promptly and with empathy.
In your response, consider putting emphasis on how you will use the feedback to identify areas for improvement. Be on the lookout to monitor your presence on Google, Yelp, and rental-specific platforms, and engage positively with anything posted about your property. In innumerable situations, your response and the original review will be quite visible to possible renters. By handling negative reviews very well and positively, you can properly mitigate any damage done.
Leveraging Reviews for Marketing Success
In many particular ways, online reviews can make your life as a rental property owner or manager hassle-free – or much harder. Therefore you should not only encourage feedback from your renters but, aside from that, leverage positive reviews in your marketing, furthermore.
Those searching for a rental home will certainly find your reviews on their own, though, you can enormously help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to exceptional property management and to set yourself up for long-term rental property success.
Boost Your Rental Success with the Power of Online Reviews
Positive online reviews are, exceedingly, a powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. But take note, cultivating reviews can be time-intensive and, sometimes, utterly stressful.
Real Property Management Lakeshore offers brilliant property management services in Oshkosh and nearby areas. Get proficient help managing your property’s online reputation and maximizing your marketing potential. today or call 920-305-7077.
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