In today’s digitally connected world, online reviews are relevant to long-term rental property success. Great online reviews can, without question, give your property the competitive edge you need to tremendously boost your occupancy rates, while negative reviews can drive prospective tenants away.
Certainly, the majority of renters today will initially check online reviews normally before further asking about a property. This makes cultivating positive reviews a pertinent task for rental property owners and managers alike. Read on to discover more about online reviews’ impact and get away with actionable tips to leverage reviews for your real 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 do the work of a large community board, sharing much-needed and reliable information as regards 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. This is the reason why positive reviews are a rental property owner’s most valuable asset, and, at the same time, a key marketing strategy. Positive reviews help build credibility and seriously enhance a property’s visibility on search engines and listing platforms. All of this will be beneficial to you to attract and keep the high-quality renters you like best to lease to.
The Ripple Effect of Positive Reviews
Other than the face value of positive reviews, there are other merits too. Cite an instance, a healthy number of positive reviews send a very clear message to renters that your property is well-managed, and that you endeavor to always guarantee your residents enjoy living in the property. With a number of awfully bad landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews encompass the ability to fill vacancies faster, and secure premium rental rates. Much as rental rates should systematically be based on thorough market analysis, an in-demand property can smoothly put up a rate at the higher end if renters are assuredly happy with their rental experience.
Encouraging Tenant Feedback
There are innumerable ways that a rental property owner or manager can easily encourage renters to leave positive online reviews of the property. As it turns out, one of the first and least complex activities to do so is to directly ask for them! If you’ve put in effort to have regular positive interactions with a tenant, asking for a review makes great sense.
For ease and comfort, provide your tenants with a link to review sites and rental platforms where your property is listed, and respectfully ask them to comment on their experience. You specifically don’t have to wait until a renter moves out to ask for an online review. Instead, opportunely ask satisfied tenants to leave reviews at memorable points, like for example after you’ve fulfilled 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
Oftentimes, despite your best efforts, residents may have left a negative online review about your property. If that should happen, the vital thing you can do is maintain your professionalism. Be conscientious not to get defensive or accuse your renter of wrongdoing. This will certainly backfire and cause you to lose credibility. But instead, address negative reviews promptly and with empathy.
In your response, pay special attention to how you will use the feedback to identify areas for improvement. Be on guard to 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 transparent to most likely renters. By handling negative reviews correctly and courteously, you can tremendously 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 uncomplicated – or much harder. Accordingly, you should not only encourage feedback from your renters but, on top of that, leverage positive reviews in your marketing too.
Those searching for a rental home will definitely search your reviews on their own, although, you can hugely help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to terrific 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, undoubtedly, a powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. Still, cultivating reviews can be labor and time-consuming, and, very often stressful.
Real Property Management Raleigh provides remarkable property management services in Wake Forest and nearby. Get proficient help managing your property’s online reputation and maximizing your marketing potential. today or call 919-481-0008.
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