In today’s digitally connected world, online reviews are salient to long-term rental property success. Great online reviews can readily give your property the competitive edge you need to totally boost your occupancy rates, while negative reviews can keep prospective tenants away.
Without a doubt, the majority of renters today will first check online reviews prior to seeking and asking more about a property. This makes cultivating positive reviews a significant task for rental property owners and managers alike. Read on to comprehend more about online reviews’ impact and have 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 work much like a large community board, sharing trustworthy information with regard to businesses, activities – and landlords.
Renters are far more likely to trust the review of another renter over whatever is shared or stated by the property owner or manager. On this account, positive reviews are a rental property owner’s most valuable asset, and likewise a key marketing strategy. Positive reviews help build credibility and elevate a property’s visibility on search engines and listing platforms. All of this will give you a great chance to attract and keep the high-quality renters you decide to lease to.
The Ripple Effect of Positive Reviews
Besides the explicit face value of positive reviews, there are other payoffs, additionally. In particular, a healthy number of positive reviews send a factual message to renters that your property is well-managed, and that you try your very best to make sure your residents enjoy living in the property. With so many horrible landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews entail the ability to fill vacancies faster and bring on premium rental rates. Though conceding that rental rates should, on all occasions, be supported by thorough market analysis, an in-demand property can, with no difficulty, establish a rate at the higher end if renters are totally content with their rental experience.
Encouraging Tenant Feedback
There are countless ways that a rental property owner or manager can very easily encourage renters to leave positive online reviews of the property. It appears that one of the first and simplest ways to do so is to properly ask for them! If you’ve put in so much effort to have regular positive interactions with a tenant, asking for a review makes a whole lot of sense.
For convenience, without hassle, provide your tenants with a link to review sites and rental platforms where your property is listed, and pleasantly ask them to comment on their experience. You likewise don’t have to wait until a renter moves out to ask for an online review. But for better results, ask satisfied tenants to leave reviews at salient moments, especially after you’ve done a maintenance, upgrade, or repair request. Make certain to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
This doesn’t happen often but despite your best efforts, residents may have left a negative online review about your property. If that time comes, the prudent thing you can do is maintain your professionalism. Be perceptive not to get defensive or accuse your renter of wrongdoing. This will actually backfire and cause you to lose credibility. But instead, just address negative reviews promptly and with empathy.
In your response, single out how you will use the feedback to identify areas for improvement. Heedfully monitor your presence on Google, Yelp, and rental-specific platforms, and engage positively with anything posted about your property. In a number of situations, your response and the original review will be plainly visible to possible renters. By handling negative reviews perfectly well and with politeness, you can truly mitigate any damage done.
Leveraging Reviews for Marketing Success
In multiple ways, online reviews can make your life as a rental property owner or manager so hassle-free – or much harder. For that reason, you should not only encourage feedback from your renters but, besides that, leverage positive reviews in your marketing also.
Those searching for a rental home will absolutely uncover your reviews on their own, even so, you can immensely help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to wonderful 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, without question, a powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. Except, cultivating reviews can be hard as well as time-consuming and, occasionally, quite stressful.
Real Property Management Thrive offers excellent property management services in Bedford and nearby locations. Get expert help managing your property’s online reputation and maximizing your marketing potential. today or call 603-255-4100.
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