In today’s digitally connected world, online reviews are significant to long-term rental property success. Great online reviews can, without a doubt, give your property the competitive edge you need to extremely boost your occupancy rates, while negative reviews can send prospective tenants away.
In point of fact, the majority of renters today will check online reviews ahead of personally asking about a property. This makes cultivating positive reviews a vital task for rental property owners and managers alike. Read on to glean more about online reviews’ impact and acquire actionable tips to leverage reviews for your 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 resemble a large community board, sharing vitally needed information in connection with 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. Knowing this, positive reviews are a rental property owner’s most valuable asset, and, on top of that, a key marketing strategy. Positive reviews help build credibility and greatly boost a property’s visibility on search engines and listing platforms. All of this will hugely help you attract and keep the high-quality renters you favor to lease to.
The Ripple Effect of Positive Reviews
More than the face value of positive reviews, there are other blessings, over and above that. Such as, for example, a healthy number of positive reviews send a simple but clear message to renters that your property is well-managed, and that you do so much to make certain your residents enjoy living in the property. With so many obnoxious landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews entail the ability to fill vacancies faster, and allowing premium rental rates. Despite that rental rates should typically be based on thorough market analysis, an in-demand property can easily and quickly give a solid reason for a rate at the higher end if renters are very happy with their rental experience.
Encouraging Tenant Feedback
There are multiple ways that a rental property owner or manager can easily encourage renters to leave positive online reviews of the property. In reality, one of the first and most uncomplicated steps to do so is to just ask for them! If you’ve put in effort to have regular positive interactions with a tenant, asking for a review makes so much sense.
For trouble-free convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and simply ask them to comment on their experience. You further don’t have to wait until a renter moves out to ask for an online review. Alternatively, ask satisfied tenants to leave reviews at crucial junctures, like for example after you’ve carried out a maintenance, upgrade, or repair request. Warrant to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
There are times, despite your best efforts, residents may have left a negative online review about your property. Should this happen, the very important thing you can do is maintain your professionalism. Be sharp not to get defensive or accuse your renter of wrongdoing. This will surely backfire and cause you to lose credibility. But, rather, address negative reviews promptly and with empathy.
In your response, pay attention and focus on how you will use the feedback to identify areas for improvement. Attentively monitor your presence on Google, Yelp, and rental-specific platforms, and engage positively with whatever is posted about your property. In numerous situations, your response and the original review will be clearly seen by most likely renters. By handling negative reviews nicely and graciously, you can extremely mitigate any damage done.
Leveraging Reviews for Marketing Success
In a lot of ways, online reviews can make your life as a rental property owner or manager far simpler – or much harder. Consequently, you should not only encourage feedback from your renters but, at the same time, leverage positive reviews in your marketing, likewise.
Those searching for a rental home will perchance find your reviews on their own, yet, you can greatly help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to prime 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 a hugely powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. With that said, cultivating reviews can be arduous as well as time-consuming and, in some cases, stressful.
Real Property Management Baton Rouge endows experienced property management services in Prairieville and nearby. Get pertinent help managing your property’s online reputation and maximizing your marketing potential. today or call 225-389-6860.
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