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Unlock the Secrets of 2023 Rental Listing Trends
Single-family rental listings aren’t what they used to be. Property managers used to get away with blurry iPhone photos and a nice hook. Now renters expect listings to provide everything they need to decide. Many single-family renters are busy families, professionals, or cross-country movers. They don’t have time to go to in-person viewings of every property they “heart” on their favorite app. Instead, they need in-depth rental listings that make it easy to choose the right home.
Professional Investors means Professional Listings
Single-family rental owners are increasingly likely to be professional real estate investors. That means professional listings are the norm and not the exception. How can you elevate your rental listings to compete in 2023?
More Rental Opportunities in the ‘Burbs
Single-family rentals in the suburbs are becoming more popular for families seeking a safe and comfortable home. According to Price Waterhouse Coopers’ (PwC) Emerging Trends in Real Estate 2023 and 2023 Property Management Industry Report by Buildium, 68% of renters live in suburban or rural areas.
Suburban living offers many advantages, such as access to outdoor space, larger yards, more family-friendly neighborhoods, and better schools. Families also appreciate the convenience of being close to shopping centers, restaurants, entertainment venues, parks, and other amenities that make life easier.
For property managers and single-family rental investors, this is an opportunity to provide homes that meet these needs while providing attractive returns on their investments. Professional photography can help showcase the features renters crave by highlighting local amenities, parks, and schools.
By listening to what renters want, property managers can attract more qualified tenants who will pay higher rents due to increased confidence in their choice. This translates into greater profits.
“Suburban living is becoming increasingly popular for families, and property managers can take advantage of this trend by using professional photography, floor plans, and 3D walkthroughs to attract high-paying tenants. #rentallistingtrends #realestateinvesting,” Click to Tweet
High-Quality Rental Listing Visuals
Rental property owners and investors know first impressions are key for attracting potential tenants. Professional photography, 3D virtual walkthroughs, and floor plans create an inviting listing that stands out from the competition.
Professional Photography:
High-quality photos of a rental property can make all the difference in how quickly you get it leased (adversely, how long it sits on the market!). Have your photographer take photos at different angles and with proper lighting to showcase the property’s best features. Ideally, you will partner with a professional rental property photographer to capture everything renters care about. Highlight amenities like local hot spots, flex space within the home, and standout features (like a hot tub!).
Key Takeaway: A professional photographer can help make your rental listing stand out by capturing the best features of your property. Be sure to also provide detailed information and review all images carefully once delivered.
3D Virtual Tours:
3D virtual tours allow prospective tenants to get an up-close look at a rental property without ever having to step inside it. This tour allows viewers to move through each room as if they were there, giving them an idea of what living in the space would be like before signing on the dotted line.
Floor Plans:
Floor plans provide renters with valuable information about the space available in each room and where their furniture might fit best within those rooms. They also give potential tenants insight into your amenities, such as flex space, office, pool, or walk-in pantry. With this, they can envision themselves living there before making any commitments. Don’t forget about outdoor spaces. If there is a patio or backyard included with your rental property, make sure you include this in your floor plan. Many people look for access to outdoor areas when living in single-family rentals, and it can be a great selling point for potential tenants.
Best Ways to Reach Renters
As rental listing trends evolve, staying ahead of the curve is vital. Investing in professional photography, 3D virtual walkthroughs, and floor plans creates a competitive edge for marketing your rentals. Keeping up with the latest rental market trends will ensure you maximize your profits while providing quality listings for potential tenants.
Rental listing trends are constantly changing, so make sure you’re staying on top of them.
