In today’s digitally connected world, online reviews are vitally critical to long-term rental property success. Great online reviews can surely give your property the competitive edge you need to vastly boost your occupancy rates, while negative reviews can push prospective tenants away.
These days, the majority of renters today will first check online reviews in preparation for investigating a property further. This makes cultivating positive reviews a crucial task for rental property owners and managers alike. Read on to understand more about online reviews’ impact and attain 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 operate relative to a large community board, sharing pertinent information relating 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. Which is why, positive reviews are a rental property owner’s most valuable asset, besides being a key marketing strategy. Positive reviews help build credibility and strengthen a property’s visibility on search engines and listing platforms. All of this will be to your great advantage to easily attract and keep the high-quality renters you are inclined to lease to.
The Ripple Effect of Positive Reviews
Over and above the face value of positive reviews, there are other perks too. By way of example, a healthy number of positive reviews send a particular message to renters that your property is well-managed, and that you pull out all the stops to make certain your residents enjoy living in the property. With a lot of terrible landlords out there, this can easily set your properties apart, even in a competitive market.
Other advantages of positive online reviews include the ability to fill vacancies faster, and bring on premium rental rates. As rental rates should typically be reliant on thorough market analysis, an in-demand property can, without a hitch, put up a rate at the higher end if renters are pleasantly glad 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 effortless means to do so is to naturally and directly ask for them! If you’ve put in a great deal of effort to have regular positive interactions with a tenant, asking for a review makes plenty of sense.
For smooth convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and good-naturedly ask them to comment on their experience. You additionally don’t have to wait until a renter moves out to ask for an online review. Rather, it’s best to ask satisfied tenants to leave reviews at strategic moments, by way of example after you’ve dealt with a maintenance, upgrade, or repair request. See to it to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
In a few cases, despite your best efforts, residents may have left a negative online review about your property. If that occurs, the primary thing you can do is maintain your professionalism. Be on the lookout 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, focus on how you will use the feedback to identify areas for improvement. Closely 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 explicitly visible to possible renters. By handling negative reviews pleasantly, you can totally mitigate any damage done.
Leveraging Reviews for Marketing Success
In countless ways, online reviews can make your life as a rental property owner or manager much easier – or much harder. As a result, you should not only encourage feedback from your renters but, in addition, leverage positive reviews in your marketing as well.
Those searching for a rental home will, in any way, find your reviews on their own, but really, you can help that process faster by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to first-class 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, undoubtedly, a powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. Nonetheless, cultivating reviews can be time-intensive and really stressful.
Real Property Management Wake County offers top-notch property management services in Raleigh and nearby locations. Get capable help managing your property’s online reputation and maximizing your marketing potential. today or call 919-747-3488.
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