In today’s digitally connected world, online reviews are primarily important to long-term rental property success. Great online reviews can give your property the competitive edge you need to extensively boost your occupancy rates, while negative reviews can ward prospective tenants away.
Indeed, the majority of renters today will actually check online reviews prior to asking regarding a property. This makes cultivating positive reviews a relevant task for rental property owners and managers alike. Read on to know more about online reviews’ impact and obtain actionable tips to leverage reviews to your advantage.
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 precisely like a large community board, sharing critically important information in reference 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. Accordingly, positive reviews are a rental property owner’s most valuable asset, in addition to being a key marketing strategy. Positive reviews help build credibility and enhance a property’s visibility on search engines and listing platforms. All of this will benefit you to attract and keep the high-quality renters you select to lease to.
The Ripple Effect of Positive Reviews
Besides the face value of positive reviews, there are other rewards, likewise. As for instance, a healthy number of positive reviews send a very clear message to renters that your property is well-managed, and that you make an effort to secure that your residents enjoy living in the property. With a lot of atrocious landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews comprise the ability to fill vacancies faster, and producing premium rental rates. Even though rental rates should, each time, be based upon thorough market analysis, an in-demand property can easily justify a rate at the higher end if renters are gratified with their rental experience.
Encouraging Tenant Feedback
There are a lot of ways that a rental property owner or manager can encourage renters to leave positive online reviews of the property. Essentially, one of the first and simplest techniques to do so is to plainly ask for them! If you’ve put in effort to have regular positive interactions with a tenant, asking for a review makes a lot of sense.
For easy convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and kindly 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 rather, ask satisfied tenants to leave reviews at precise moments like, in particular, after you’ve brought about a maintenance, upgrade, or repair request. Determine to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
Every so often, despite your best efforts, residents may have left a negative online review about your property. For that possibility, the necessary thing you can do is maintain your professionalism. Be observant not to get defensive or accuse your renter of wrongdoing. This will backfire and cause you to lose credibility. Alternately, address negative reviews promptly and with empathy.
In your response, stress how you will use the feedback to identify areas for improvement. Be keen 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 clearly apparent to possible renters. By handling negative reviews correctly, you can positively mitigate any damage done.
Leveraging Reviews for Marketing Success
In considerable ways, online reviews can make your life as a rental property owner or manager lighter – or much harder. Consequently, you should not only encourage feedback from your renters but, more so, leverage positive reviews in your marketing also.
Those searching for a rental home will most likely identify your reviews on their own, but you can certainly help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to mint and excellent property management and set yourself up for long-term rental property success.
Boost Your Rental Success with the Power of Online Reviews
Positive online reviews are a powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. Though it’s a matter of fact, cultivating reviews can be really time-consuming and, once in a while, actually stressful.
Real Property Management Northern Utah bestows capable property management services in Salt Lake City and neighboring areas. Get excellent help in managing your property’s online reputation and maximizing your marketing potential. today or call 801-546-1770.
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