.webp)
The Star Tribune reported earlier this month that Duluth is finally seeing population growth for the first time in decades. This is great news for property owners because an influx of new residents increases the demand for housing.
How can you stand out from your competitors and attract Duluth residents both new and old? It's time to shake things up in the property marketing department.
Ready to learn how to put your property in the spotlight? Read on for four rental property marketing strategies to try in Duluth, MN.
1. Improve Your Visuals
The internet is the renter's most valuable tool. This is where they can find listings and review them, deciding if they want to take the next step.
Your photos play a huge role in the first impression your listing makes. Replace any grainy or over-saturated photos with professional, naturally lit shots. If your budget allows it, consider adding a virtual tour of the property to your listing as well.
2. Make Your Listing More Visible
If you want to get eyes on your listing, you need to work with the algorithm, rather than expecting the algorithm to work for you. Make sure you're:
- Using multiple rental listing services
- Using SEO keywords in your description
- Taking a strategic approach to pricing
What do we mean by a strategic approach to pricing? Remember, renters may filter their search results by maximum price. When you need to list your apartment, round your rental price to the nearest hundredth (e.g., $1500 rather than $1550) to better fit the search criteria.
3. Broaden Your Leasing Regulations
Some property marketing is less about property photos and real estate ads and more about appealing to renters' needs. What are some of the restrictions in your lease that might be limiting your pool of applicants?
A big example of restrictions that can limit your applicant pool is a strict pet policy. When you allow pets in your rental, you tap into a market that is underserved.
4. Emphasize Local Attractions
Finally, make sure that your listing emphasizes location, particularly proximity to local attractions. For example, how close is it to the University of Minnesota Duluth? What about shopping, dining, and entertainment?
Even if your property isn't in a neighborhood known for its walkability, you can still emphasize location in your listing. Use the DTA website to figure out the nearest bus line and how quickly renters can get to popular attractions by car or public transportation.
Attract More Duluth Renters with Innovative Property Marketing
As our population grows, Duluth investment property owners prosper. The key is knowing how to capitalize on the influx of new residents and the pressure it puts on the local housing market. These four property marketing tactics will help you stand out from the competition and attract local renters with ease.
Looking for a way to keep those tenants for more than one lease term? PMI Lakeshore offers customizable property management services and proprietary tenant technology to keep both investors and their tenants happy. Contact us to learn more about how we can help.
