In today’s digitally connected world, online reviews are crucial to long-term rental property success. Great online reviews can, undoubtedly, give your property the competitive edge you need to tremendously boost your occupancy rates, while negative reviews can push prospective tenants away.
Without question, the majority of renters today will check online reviews initially before further exploring a property. This makes cultivating positive reviews a basic and critical task for rental property owners and managers alike. Read on to discover more about online reviews’ impact and gain actionable tips to leverage reviews for your complete 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 perform the function of a large community board, sharing responsible and essential information with respect 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. This is exactly why positive reviews are a rental property owner’s most valuable asset, and also a key marketing strategy. Positive reviews help build credibility and expand a property’s visibility on search engines and listing platforms. All of this will be advantageous to you to attract and keep the high-quality renters you really like to lease to.
The Ripple Effect of Positive Reviews
Besides the face value of positive reviews, there are other perks also. As a sample, a healthy number of positive reviews send an obvious message to renters that your property is well-managed, and that you endeavor to always make certain your residents enjoy living in the property. With many terrible 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 instituting premium rental rates. While rental rates should consistently be determined by thorough market analysis, an in-demand property can smoothly justify a rate at the higher end if renters are greatly satisfied with their rental experience.
Encouraging Tenant Feedback
There are countless ways that a rental property owner or manager can smoothly encourage renters to leave positive online reviews of the property. One of the first and least bothersome ways to do so is to merely ask for them! If you’ve put in so much effort to have regular positive interactions with a tenant, asking for a review makes a great deal of sense.
For convenience, without hitch, 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 particularly don’t have to wait until a renter moves out to ask for an online review. Instead, why not ask satisfied tenants to leave reviews on valuable times, for example after you’ve operated a maintenance, upgrade, or repair request. Ascertain to thank your renter for their review and encourage additional feedback in other formats.
Managing Negative Reviews
Not often, but despite your best efforts, residents may have left a negative online review about your property. If something like this should happen, the beneficial thing you can do is maintain your professionalism. Be very careful not to get defensive or accuse your renter of wrongdoing. This will surely backfire and cause you to lose credibility. Rather, it’s helpful to address negative reviews promptly and with empathy.
In your response, carefully note how you will use the feedback to identify areas for improvement. Be aware to monitor your presence on Google, Yelp, and rental-specific platforms, and engage positively with anything posted about your property. In innumerable situations, your response and the original review will be unmistakably visible to likely renters. By handling negative reviews nicely, you can properly mitigate any damage done.
Leveraging Reviews for Marketing Success
In quite a lot of ways, online reviews can make your life as a rental property owner or manager worry-free – or much harder. On that account, you should not only encourage feedback from your renters but, furthermore, leverage positive reviews in your marketing, in addition.
Those searching for a rental home will, in any circumstances, perhaps find your reviews on their own, except, you can tremendously help that process by featuring positive reviews on your website, social media, and promotional materials. Use positive reviews to demonstrate your commitment to ideal 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, certainly a powerful tool for any rental property owner or manager, and handling them strategically can boost your chances of long-term rental success. Though, it is a matter of fact that cultivating reviews can be troublesome as well as time-consuming and, at certain times, completely stressful.
Real Property Management Elevate endows excellent property management services in Edmond and nearby locations. Get experienced help managing your property’s online reputation and maximizing your marketing potential. today or call 405-876-7611.
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