In today’s digitally connected world, online reviews are necessary to long-term rental property success. Great online reviews can definitely give your property the competitive edge you need to seriously boost your occupancy rates, while negative reviews can push prospective tenants away.
In actual fact, the majority of renters today will check online reviews initially before assessing and asking further on the subject of a property. This makes cultivating positive reviews a critical task for rental property owners and managers alike. Read on to assimilate more about online reviews’ impact and gain 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 operate as a large community board, sharing reputable and needed information concerning 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. That is why, positive reviews are a rental property owner’s most valuable asset, and also a key marketing strategy. Positive reviews help build credibility and intensify a property’s visibility on search engines and listing platforms. All of this will be of great advantage to you to attract and keep the high-quality renters you love to lease to.
The Ripple Effect of Positive Reviews
In addition to the face value of positive reviews, there are other benefits along with that. In particular, a healthy number of positive reviews send an absolute message to renters that your property is well-managed, and that you strive to make certain your residents enjoy living in the property. With so many dreadful landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews incorporate the ability to fill vacancies faster, and fostering premium rental rates. Even though rental rates should be developed based on thorough market analysis, an in-demand property can very easily defend a rate at the higher end if renters are untroubled and very happy with their rental experience.
Encouraging Tenant Feedback
There are a bunch of ways that a rental property owner or manager can effortlessly encourage renters to leave positive online reviews of the property. Indeed, one of the first and unbothersome ways to do so is to simply ask for them! If you’ve put in plenty of effort to have regular positive interactions with a tenant, asking for a review makes a great deal of sense.
For easy convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and warmly ask them to comment on their experience. You especially don’t have to wait until a renter moves out to ask for an online review. Then again, it’s easy to ask satisfied tenants to leave reviews at timely points, for illustration, after you’ve effected a maintenance, upgrade, or repair request. Nail down to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
At times, despite your best efforts, residents may have left a negative online review about your property. If it happens, the best thing you can do is maintain your professionalism. Be perceptive not to get defensive or accuse your renter of wrongdoing. This will always backfire and cause you to lose credibility. Contrary to that, address negative reviews promptly and with empathy.
In your response, clearly emphasize 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 considerable situations, your response and the original review will be blatantly clear to possible renters. By handling negative reviews satisfactorily well, you can substantially mitigate any damage done.
Leveraging Reviews for Marketing Success
In various ways, online reviews can make your life as a rental property owner or manager simpler – or much harder. That’s why you should not only encourage feedback from your renters but, more than that, leverage positive reviews in your marketing, besides.
Those searching for a rental home will typically find your reviews on their own, even so, you can definitely help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to top-notch 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. Nevertheless, cultivating reviews can be time-intensive and, mostly stressful.
Real Property Management Eclipse grants exceptional property management services in Bellevue and nearby neighborhoods. Get professional help managing your property’s online reputation and maximizing your marketing potential. today or call 425-209-0252.
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.
