According to the Kilgore News Herald, Wyoming has a 4.4% rental vacancy rate. As more people find great rentals in Cody, WY, you could struggle to compete. With a strong property marketing strategy, you can ensure your rentals stand out.
In time, you can maximize your occupancy rate and earning potential. Otherwise, each vacancy could cost you thousands in potential earnings each month.
Not sure which property marketing ideas are most effective at attracting tenants in Cody? Read on for our top tenant attraction strategies today!
Update the Rental Property
Before marketing your available listings, confirm they appeal to local renters. Complete a rental analysis and compare your properties to others in Cody. What amenities and features do your rentals lack?
Popular renovations for attracting high-quality tenants include:
- New floors
- Fresh paint
- New light fixtures
- Updated kitchen cabinets
- Smart home technology
- Ornate backsplash
- Bathroom upgrades
- Exterior upgrades/improved curb appeal
Talk to your current renters and determine what upgrades they're interested in. Their suggestions can help you attract and retain renters in Cody.
Complete your rental analysis before determining the rental rate. Setting a competitive rate will ensure you appeal to renters. Setting the rate too high will deter tenants, while setting it too low will cost you revenue.
Optimize the Listing
After upgrading the property, hire an experienced real estate photographer. High-quality photos and videos will help your listing stand out. You can use these visuals for other Wyoming property marketing strategies.
Enhance your online property listing. Make sure it includes:
- An attention-grabbing header
- A detailed description
- A strong call to action
- Visual content
- Your contact information
- A list of amenities/features
- The rental rate
Use search engine optimization to appear as Cody, WY renters search for available listings. You'll generate more applications, opening your tenant pool.
Engage Renters on Social Media
Share your visual content on social media to reach renters online. These include:
- Tenant testimonials
- How-to videos
- Online seminars
- Aerial tours
- Virtual tours
- Video tours
- Decorating tips
Add a strong call to action at the end of each post urging people to explore your online listing.
Leverage Digital Advertising
Digital advertising will expand your online visibility. Use platforms like Google and Facebook Ads to target Cody renters. Effective rental property tips for online ads include:
- Creating animations
- Defining your target audience
- Creating personalized ads
- Using storytelling language
- Adding social proof
- Using location-specific keywords
Hire a Cody Property Management Company
Applying these strategies can become stressful and time-consuming. Instead, partner with a Cody property management company. Their proven strategies can help you reach quality tenants.
Choose a company that offers tenant screening services. They'll ensure you select reliable renters while adhering to local and federal screening laws. With their services, you can retain renters to improve your occupancy rate and ROI.
Enhance Your Property Marketing Strategy
A strong property marketing strategy will help your Cody, WY rentals stand out online. Use these property marketing ideas to build your campaigns. Remember, you can always ask for support.
PMI Yellowstone is part of a dynamic franchise that's been perfecting the property management industry for nearly 20 years. Trust our professional guarantees, state-of-the-art technology, and award-winning strategies. Contact us now for a free rental analysis.
