In today’s digitally connected world, online reviews are pertinent to long-term rental property success. Great online reviews can, undoubtedly, give your property the competitive edge you need to significantly boost your occupancy rates, while negative reviews can turn prospective tenants away.
Really, the majority of renters today will check online reviews preliminary to asking about a property. This makes cultivating positive reviews a really important task for rental property owners and managers alike. Read on to learn more about online reviews’ impact and secure 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 act much like a large community board, sharing essential information with reference 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. In light of this, positive reviews are a rental property owner’s most valuable asset, and, needless to say, a key marketing strategy. Positive reviews help build credibility and enhance a property’s visibility on search engines and listing platforms. All of this will let you attract and keep the high-quality renters you decide to lease to.
The Ripple Effect of Positive Reviews
Apart from the face value of positive reviews, there are other payoffs as well. To cite for instance, a healthy number of positive reviews send a clear-cut message to renters that your property is well-managed, and that you make an effort to always make sure your residents enjoy living in the property. With a multitude of foul 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 putting up premium rental rates. Though rental rates should routinely be developed thorough market analysis, an in-demand property can very easily justify a rate at the higher end if renters are more than satisfied with their rental experience.
Encouraging Tenant Feedback
There are a lot of ways that a rental property owner or manager can properly encourage renters to leave positive online reviews of the property. Without a doubt, one of the first and most unburdensome means to do so is to merely ask for them! If you’ve put in a lot of effort to have regular positive interactions with a tenant, asking for a review certainly makes a lot of sense.
For utter convenience, provide your tenants with a link to review sites and rental platforms where your property is listed, and gracefully ask them to comment on their experience. You, as well, don’t have to wait until a renter moves out to ask for an online review. You can actually ask satisfied tenants to leave reviews at pleasant times, as for example after you’ve completed a maintenance, upgrade, or repair request. Always make certain to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
Periodically, despite your best efforts, residents may have left a negative online review about your property. If that time comes, the salient thing you can do is maintain your professionalism. Be on guard not to get defensive or accuse your renter of wrongdoing. This will definitely backfire and cause you to lose credibility. However, on the contrary, address negative reviews promptly and with empathy.
In your response, take up how you will use the feedback to identify areas for improvement. Prudently monitor your presence on Google, Yelp, and rental-specific platforms, and engage positively with anything posted about your property. In particular situations, your response and the original review will be noted by likely renters. By handling negative reviews excellently well, you can massively mitigate any damage done.
Leveraging Reviews for Marketing Success
In lots of ways, online reviews can make your life as a rental property owner or manager so much easier – or much harder. Due to this fact, you should not only encourage feedback from your renters but, aside from that, leverage positive reviews in your marketing also.
Those searching for a rental home will maybe find out your reviews on their own, but, at the same time, you can help that process along by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to tip-top 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 an exceedingly powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. However, in fact, cultivating reviews can be time-consuming and, sometimes, utterly stressful.
Real Property Management California Coast offers seasoned property management services in Manhattan Beach and nearby. Get competent help managing your property’s online reputation and maximizing your marketing potential. today or call 310-535-2150.
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