In today’s digitally connected world, online reviews are necessary long-term rental property success. Great online reviews can certainly give your property the competitive edge you need to hugely boost your occupancy rates, while negative reviews can scare prospective tenants away.
As it turns out, the majority of renters today will check online reviews before further investigating a property. This makes cultivating positive reviews a salient task for rental property owners and managers alike. Read on to determine more about online reviews’ impact and garner actionable tips to leverage reviews for your huge 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 act like a large community board, sharing much-needed 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. As a result, positive reviews are a rental property owner’s most valuable asset, and, additionally, a key marketing strategy. Positive reviews help build credibility and hugely boost a property’s visibility on search engines and listing platforms. All of this will greatly help you to attract and keep the high-quality renters you decide to lease to.
The Ripple Effect of Positive Reviews
In addition to the face value of positive reviews, there are other advantages besides. By way of illustration, a healthy number of positive reviews send a downright clear message to renters that your property is well-managed, and that you make an effort to nail down that your residents enjoy living in the property. With many vile landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews involve the ability to fill vacancies faster, and setting up premium rental rates. While it is a matter of fact that rental rates should, at all times, be derived from thorough market analysis, an in-demand property can, without effort, substantiate a rate at the higher end if renters are quite satisfied with their rental experience.
Encouraging Tenant Feedback
There are various ways that a rental property owner or manager can certainly encourage renters to leave positive online reviews of the property. Undoubtedly, one of the first and trouble-free ways to do so is to merely ask for them! If you’ve put in much effort to have regular positive interactions with a tenant, asking for a review really makes a lot of sense.
For utter convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and amiably ask them to comment on their experience. You additionally don’t have to wait until a renter moves out to ask for an online review. Rather, ask satisfied tenants to leave reviews at opportune moments, such as after you’ve settled a maintenance, upgrade, or repair request. Always remember to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
Every once in a while, despite your best efforts, residents may have left a negative online review about your property. If this actually occurs, the relevant thing you can do is maintain your professionalism. Be heedful not to get defensive or accuse your renter of wrongdoing. This will actually backfire and cause you to lose credibility. In contrast, address negative reviews promptly and with empathy.
In your response, draw attention to how you will use the feedback to identify areas for improvement. Make sure to monitor your presence on Google, Yelp, and rental-specific platforms, and engage positively with anything posted about your property. In a few situations, your response and the original review will be accessible to potential renters. By handling negative reviews appropriately, you can hugely mitigate any damage done.
Leveraging Reviews for Marketing Success
In a good deal of ways, online reviews can make your life as a rental property owner or manager a lot better – or much harder. Precisely why you should not only encourage feedback from your renters, but, above all, leverage positive reviews in your marketing correspondingly.
Those searching for a rental home will definitely find your reviews on their own, but certainly, you can help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to outstanding 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 extremely powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. But, as a matter of fact, cultivating reviews can be totally time-consuming and, now and then, very stressful.
Real Property Management Seacoast New Hampshire imparts able property management services in Exeter and nearby areas. Get competent help managing your property’s online reputation and maximizing your marketing potential. today or call 603-343-2202.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
