In today’s digitally connected world, online reviews are essential to long-term rental property success. Great online reviews can, undoubtedly, give your property the competitive edge you need to vastly boost your occupancy rates, while negative reviews can chase prospective tenants away.
Really, it is a matter of fact that the majority of renters today will first check online reviews just before questioning further with regard to a property. This makes cultivating positive reviews a primal task for rental property owners and managers alike. Read on to be informed more about online reviews’ impact and acquire actionable tips to leverage reviews for your total 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 work relative to a large community board, sharing helpful information in connection with businesses, activities – and landlords.
Renters are far more likely to trust the review of another renter over whatever is openly shared or stated by the property owner or manager. In view of this, positive reviews are a rental property owner’s most valuable asset and, more importantly, a key marketing strategy. Positive reviews help build credibility and advance a property’s visibility on search engines and listing platforms. All of this will easily help you smoothly attract and keep the high-quality renters you pick out to lease to.
The Ripple Effect of Positive Reviews
Besides the obvious face value of positive reviews, there are other gains also. By way of illustration, a healthy number of positive reviews send an accurate message to renters that your property is well-managed, and that you spare no effort to give it importance your residents enjoy living in the property. With many terrible landlords out there, this can easily set your properties apart, even in a highly competitive market.
Other advantages of positive online reviews encompass the ability to fill vacancies faster, and bring about premium rental rates. Even supposing rental rates should typically be grounded in thorough market analysis, an in-demand property can comfortably declare a rate at the higher end if renters are fully content with their rental experience.
Encouraging Tenant Feedback
There are quite a lot of ways that a rental property owner or manager can smoothly encourage renters to leave positive online reviews of the property. Beyond doubt, one of the first and most convenient steps to do so is to naturally and directly ask for them! If you’ve put in so much effort to have regular positive interactions with a tenant, asking for a review makes perfect sense.
For utter convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and nicely ask them to comment on their experience. You, in addition, don’t have to wait until a renter moves out to ask for an online review. But rather, it’s perfect to ask satisfied tenants to leave reviews at definitive moments, by way of illustration after you’ve put into effect a maintenance, upgrade, or repair request. Secure to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
In some cases, despite your best efforts, residents may have left a negative online review about your property. If it happens, the critical thing you can do is maintain your professionalism. Be heedful not to get defensive or accuse your renter of wrongdoing. This will, eventually, backfire and cause you to lose credibility. But instead, properly address negative reviews promptly and with empathy.
In your response, aim to focus towards how you will use the feedback to identify areas for improvement. Be thorough to monitor your presence on Google, Yelp, and rental-specific platforms, and engage positively with anything posted about your property. In a lot of situations, your response and the original review will be seen by potential renters. By handling negative reviews pleasantly, you can immensely 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 far simpler – or much harder. Thus, you should not only encourage feedback from your renters but, at the same time, leverage positive reviews in your marketing further.
Those searching for a rental home will very likely locate your reviews on their own, but, on the other hand, you can help that process immensely by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to magnificent 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, exceedingly, a powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. Yet, in reality, cultivating reviews can be protracted as well as time-consuming and, in a few cases, very stressful.
Real Property Management Firebird endows outstanding property management services in Phoenix and nearby. Get trustworthy help managing your property’s online reputation and maximizing your marketing potential. today or call 602-805-2211.
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.
