Guide To Advertising Rental Portfolios Using Google Ads

Successful digital marketing in the rental property business involves knowing how to use online marketing tools to your advantage. One of the most powerful of these tools is Google Ads. It allows advertisers to create targeted ads that appear when users search for specific terms or phrases, known as keywords.

This guide will provide clear, step-by-step instructions on how to start advertising your rental properties using Google Ads. Additionally, ways to maintain your ads, track their success, and the importance of latent semantic indexing (LSI) keywords for effective ad performance will be covered.

Brief Overview of Google Ads

Advertising rental properties on Google has several key advantages over other advertising platforms:

Understanding the needs of general users and reasons for selecting a posted ad can optimize rental property advertising strategies. For example, recognizing that ads are often clicked when the brand is familiar and the search query is directly answered, you can determine whether your advertising goals should focus on establishing your brand or online presence and familiarity, or meeting user needs.

Understanding the Google Ads Pricing Model

Google uses a Pay-Per-Click (PPC) model – you’re only charged when someone interacts with your ad. This, coupled with the ability to set a daily budget, ensures you get a high return on investment.

Your ad placement is determined by Google’s Ad auction – Adwords Intelligence. Once you create your ad for your rental properties, you proceed by placing bids on keywords. The higher the bid placed, the more likely your ad will be closer to the top of the search page. Adwords intelligence will determine where your ad will be placed based on the cost per click you have set and the quality of the ad.

Additionally, set budgets can be made to ensure that the increase in website visitations does not cost you a fortune. After creating your account, visit “Campaigns” and find the campaign created for your rental properties. Select “Budget” and enter your daily budget (Tip: If you have set a monthly budget instead, divide the set monthly value by 30.4.)

Starting your Google Ads Account

Step 1: Create your Google Ads Account

Visit the Google Ads homepage and click ‘Start now’. You’ll be prompted to sign in with your Google account. If you don’t have one, it’s free to create. Once signed in, follow the prompts to set up your Google Ads account.

After that, you’ll be prompted for additional information regarding the website you’d like users to visit upon clicking your advertisement for your rental property.

Step 2: Set Your Goals

Select “Create” and choose “Campaign” to get started. You will then be given the choice to identify your objective and fill out additional information that relates to your goals. If you’re uncertain what objectives will benefit your rental properties, it is covered below.

After identifying your goals, you will be asked to write your advertisement. When it comes to writing your advertisement to create the campaign for your rental property, there are certain things to keep in mind to maximize the effectiveness of those ads.

Step 3: Create a campaign

Setting Your Rental Property Goals

Positioning your ads to attract tenants requires a deep understanding of their needs. Establishing clear goals for your campaign can help determine the type of campaign you should launch whether your goal is increased website traffic, more inquiries on your rentals, or reduced vacancy rates.

To start, you can utilize Google Ads in two primary ways: Search Network and Display Network.

Search Network: appeal to looking customersDisplay Network: increases visibility
Shows ads to users actively searching for rental propertiesPlaces rental property ads on several websites that potential renters might be browsing

Additionally, here are the types of campaigns to consider launching based on your rental property campaign goals:

Campaign TypeObjectivesRental Property
Search CampaignsText ads on Google Search– Boost sales/ leads /website traffic
– Easy setup
– Specific targeting
Optimal for reaching people with higher purchasing intent
Display CampaignsImage ads on various websites– Drives sales/lead
-Brand Awareness
– Extended reach & re-targeting
To stay top of mind with potential renters and retarget visitors to the rental property website
Smart CampaignsAutomated campaigns using Google AI– Drives sales/leads
– Easy setup
– Advanced optimization
An efficient way to advertise rental properties with minimal setup and effort
Performance Max CampaignsMulti-channel AI-optimized campaigns– Easy setup
-Increased conversions
-Finds new customers
Great for expanding reach across various channels, finding new renters, and optimizing marketing efficiency
Video CampaignsVideo ads on YouTube and other websites– Brand awareness
– Drives sales/
– Extended reach, re-targeting
To give potential renters on YouTube a visual tour of the property, reaching a wide audience and retargeting interested parties
Local CampaignsPromotes physical locations across channels– Drives in-person store sales
– Promotes offers/events
-Provides location info
– Multi-channel marketing
To bring potential renters to physical rental locations or offices
App CampaignsPromotes your app across channels-Promotes app
-Multi-channel marketing
-Easy setup and management
Useful for property owners with an app to streamline booking and inquiries

Once you’ve decided on the type of campaign to launch for your rental properties and have completed setting up your account, you can proceed to the next step – creating your ad.

Creating your Ad & Leveraging LSI

Having identified your goal, understood their pricing model, and set up your account with Google Ads, you are ready to start your ad creation process.

Leveraging LSI keywords involves using alternative words and phrases that are semantically related to your primary keyword. Things like synonyms, closely related words, or phrases that often occur in the same context as your main keyword are optimal for the best outreach.

To start, choose keywords that users looking for rental properties would input to find their future homes. For instance, words like, “apartment for rent”, “home for rent”, and “2-bedroom apartment” are common searches users may choose when looking for rentals. Alternatively, instead of creating keywords from scratch, you can input your website’s URL link and Google can recommend keywords.

Additionally, you can leverage campaign settings to ensure your rental properties are reaching a relevant demographic by viewing the Campaign Settings to view your options.

Campaign Settings

Start by choosing locations to target your advertisements. This can be narrowed down to one or multiple postal codes, neighborhoods, cities, or countries.

** The assets created can be tailored to suit your preferences – you can create lead forms for potential tenants to view and indicate their interest, and create several headlines, images, logos, and videos which Google will then mix and match to track the most successful combination. **

Launching Your Campaign


Once the keywords have been selected, the next step in the bidding process is launching your campaign.

After choosing objectives, you’re taken to the bidding portion of the process where you can decide how you want to track your ad success – these are some options to keep in mind that can help substantially grow interest in your properties and lower vacancy rates:

MethodPricing MethodBenefits
ConversionsTarget cost per actionOnly be charged when a specific action is completed (ie. a purchase, sign-up, or download)
Conversion ValueTarget return on ad spendOptimize your ad campaigns to focus on generating revenue rather than just conversions
ClicksMaximum cost per click bid limitCharged only when a user clicks on your ad. This approach is beneficial for driving traffic to your website.
Impression SharePercent (%) impression share to target & Maximum CPC bid limitEnsure that your ads appear a certain percentage of the time when relevant keywords or placements are triggered. This method helps you increase brand visibility and reach a broader audience while maintaining control over your maximum CPC bid.

After you’ve input your daily budget or bid, your campaign will be launched. It will be ready for you to track your rental property ad performance!

Tracking Success & Making Necessary Adjustments

After creating your campaign, go to “Campaigns” and view the analytics tabs appearing:

Each portion of the tab will reveal more about your rental property performance:

OverviewGives you a brief insight into your assets – ie. your lead form or headlines created.Refine your marketing strategies to better attract prospective tenants and fill vacancies quickly.
InsightsShows interactions, cost, and interaction rate with your advertisement.Analyze the cost-effectiveness of your campaigns & understand what drives engagement. If a particular ad is generating a lot of interactions but isn’t leading to conversions, you can adjust the ad to better meet your goals.
When and where ads showedIndicates the time in which your ads were viewed, the location, and the device type used to interact with your ad.If your ads are most often viewed on mobile devices, you can optimize your website and ads for mobile viewing. Understanding the most effective time to show your ads could also lead to better conversion rates.
Report EditorAllows you to generate reports and edit report data to be downloaded and shared as needed.You can create custom reports to track specific metrics related to business goals, like the number of new tenant inquiries or the conversion rate of property viewings to leases.

Boosting Your Marketing Effectiveness

  1. Precision Targeting: With Google Ads, you can target your audience with laser-like precision. Utilize keywords, demographics, and interests to reach potential customers who are actively searching for your products or services – recall the user data provided at the start of the guide. With questions being answered or brand familiarity being the primary reasons that an advertisement is clicked on, it is important to leverage the keyword options you mention in your rental property ads to reach the most leads.
  2. Engagement through Ad Extensions: Google Ads allows you to enhance your ads with additional information such as site links, callouts, and structured snippets. These extensions provide more reasons for viewers to click, turning casual browsers into engaged prospects.
  3. Cost-Effective Campaigns: Google Ads offers a pay-per-click model, meaning you only pay when someone clicks on your ad. Experiment with different ad formats and bidding strategies to find what delivers the best ROI. It’s like having a customizable advertising budget that you can tailor to your business needs.
  4. Responsive Ads: Google’s responsive ads automatically adjust to fit different devices and screen sizes. This ensures that your message is always clear and compelling, whether viewed on a desktop, tablet, or mobile device. It’s like having a digital chameleon that adapts to its environment.
  5. Insightful Analytics: Utilize Google’s robust analytics to understand how your ads are performing. Monitor metrics like click-through rates, conversion rates, and cost-per-conversion to continuously optimize your campaigns.
  6. Building Brand Trust: Google Ads allows you to showcase your ratings and reviews right in your ads. By displaying positive feedback from satisfied customers, you’re not just promoting your products but also building trust with potential clients.
  7. Leverage Remarketing: With Google’s remarketing tools, you can target users who have previously interacted with your website or app. This keeps your brand top-of-mind and encourages them to complete their purchase. It’s like having a gentle reminder that nudges customers back to your business.
  8. Quality Score Optimization: Google Ads uses a Quality Score to determine how relevant and useful your ad is to the user. By optimizing for this score, you can achieve better ad placements and lower costs. It’s like having a guide to creating the most effective and efficient ads possible.

By leveraging these features and strategies, Google Ads can become a powerful tool in your marketing arsenal, helping you reach more customers, increase conversions, and grow your business.

In the fast-paced world of the rental property business, standing out in the crowded market is essential. Google Ads offers a dynamic and effective way to reach potential tenants and property buyers. By understanding the intricacies of Google Ads, from its pricing model to leveraging latent semantic indexing (LSI), you can create targeted and efficient advertising campaigns.

This guide has walked you through the essential steps to set up, launch, and track a successful Google Ads campaign for your rental properties. By following these instructions, you can not only increase your visibility but also optimize your advertising budget, ensuring that your ads reach the right audience at the right time.

Remember, the key to successful digital marketing is not just about using tools but understanding how to use them strategically. Continuous monitoring, learning, and adapting will keep your campaigns fresh and effective, helping you stay ahead in the competitive rental property market. Whether you are a seasoned marketer or just starting, Google Ads offers a scalable solution to help you advertise your rental properties.

15 KPIs Every Real Estate Rental Marketing Professional Should Know in 2023

two white printer papers near macbook on brown surface

Not all key performance indicators (KPIs) are created equal. Some are more important than others. As businesses continue to digitize and data becomes more accessible, here is a list of KPIs marketing teams managing large multifamily portfolios stay on top of to ensure the success of rental properties.

By leveraging data-driven insights offered by KPIs, tech firms and marketers can make more informed decisions, fine-tune their strategies, and ultimately deliver better results. The primary focus will be on the standard KPIs used across the industry, their relevance, and how you can track them.

1. Vacancy Rate:

Definition: The vacancy rate represents the percentage of properties that are vacant in a given period.

Why It Matters: This metric is a vital indicator of property demand and marketing effectiveness. It’s not just about empty spaces; it allows real estate marketing managers to fine-tune strategies, target demographics more precisely, and boost occupancy rates and revenue.

Actionable Insights:

  • Analyze Vacancy Trends: Regularly review vacancy patterns to identify opportunities or challenges.
  • Adjust Marketing Strategies: Tailor marketing efforts to target specific demographics that align with vacant properties.
  • Monitor Competitor Rates: Keep an eye on competitor vacancy rates to understand market positioning.
  • Offer Incentives: Consider special offers or incentives to attract tenants to vacant properties.

Example of Implementation: If vacancy rates are high in a particular property type, consider a targeted marketing campaign or special leasing incentives for that category.

2. Leads Generated:

Definition: Leads generated refers to the number of potential renters who have shown interest in a property, typically by contacting the company or filling out a form.

Why It Matters: This KPI measures campaign success and audience engagement. It’s not just about counting inquiries; it guides marketing tactics and resource allocation for optimized conversions and enhanced tenant acquisition.

Actionable Insights:

  • Regularly Review Lead Sources: Understand where leads are coming from and invest in channels that generate quality leads.
  • Segment Leads: Categorize leads by source, interest level, or other factors to tailor follow-up strategies.
  • Test Different Channels: Experiment with various marketing channels to identify the most effective ones.
  • Collaborate with Sales: Ensure that leads are promptly and effectively followed up on.

Example of Implementation: If a particular social media platform is generating high-quality leads, consider increasing investment in advertising on that platform.

3. Cost Per Lead (CPL):

Definition: CPL is the total marketing spend divided by the number of leads generated, evaluating the efficiency of different marketing campaigns.

Why It Matters: Reflecting marketing efficiency and budget allocation, CPL informs budget planning, enables ROI assessment, and empowers managers to optimize cost-effective lead generation approaches.

Actionable Insights:

  • Compare CPL Across Channels: Identify which channels are delivering the best value and reallocate the budget accordingly.
  • Monitor Over Time: Track CPL trends over time to identify opportunities for optimization.
  • Align with Conversion Rates: Consider CPL in conjunction with conversion rates to understand the full value of leads from different channels.
  • Experiment with Targeting: Test different targeting strategies to find the most cost-effective approach.

Example of Implementation: If CPL is high for paid search but conversion rates are also high, it may still be a valuable channel. Conversely, if CPL is low but leads are not converting, it may be worth reassessing that channel.

4. Conversion Rate:

Definition: The conversion rate is the percentage of leads that end up signing a lease.

Why It Matters: This KPI illustrates the success of lead-to-tenant transitions. It’s not just about conversions; it helps managers refine campaigns, messaging, and collaboration between marketing and sales to drive better leasing outcomes.

Actionable Insights:

  • Collaborate Between Marketing and Sales: Work closely to ensure that messaging and follow-up strategies are aligned.
  • Analyze Conversion Paths: Understand the typical paths that successful conversions take through the marketing funnel.
  • Test Different Offers: Experiment with different offers or incentives to see what resonates best with leads.
  • Monitor Competitor Strategies: Keep an eye on competitor conversion strategies that may be influencing market behavior.

Example of Implementation: If conversion rates are low from a particular lead source, consider refining the messaging or offer for that channel.

5. Tenant Retention Rate:

Definition: The tenant retention rate is the percentage of tenants renewing their leases.

Why It Matters: Reflecting tenant satisfaction and loyalty, this rate guides strategies to improve experiences, reduce turnover costs, and ensure sustained occupancy and revenue.

Actionable Insights:

  • Implement Feedback Loops: Regularly solicit and act on tenant feedback to enhance their experience.
  • Offer Renewal Incentives: Consider special incentives for renewing tenants.
  • Monitor Market Trends: Understand market conditions that may influence renewal decisions.
  • Build Community Engagement: Foster a sense of community through events or communication that may encourage renewals.

Example of Implementation: If retention rates are declining, consider a tenant survey to identify areas for improvement and act on that feedback.

6. Customer Acquisition Cost (CAC):

Definition: CAC is the total cost of sales and marketing efforts required to acquire a new customer.

Why It Matters: By measuring the cost of obtaining new tenants, CAC informs efficient marketing strategies, budget allocation, and profitability, ensuring minimized expenses for tenant acquisition.

Actionable Insights:

  • Analyze CAC in Relation to LTV: Ensure that the cost of acquiring a customer is justified by their lifetime value.
  • Monitor Over Time: Track CAC trends to identify changes in market cost dynamics.
  • Segment by Channel: Understand which channels are most cost-effective for customer acquisition.
  • Align with Organizational Goals: Ensure that CAC targets align with broader business profitability and growth goals.

Example of Implementation: If CAC is rising in a particular channel without a corresponding increase in customer value, consider reallocating resources to more cost-effective channels.

7. Net Promoter Score (NPS):

Definition: The Net Promoter Score (NPS) is a measure of tenants’ willingness to recommend the rental property to others.

Why It Matters: NPS is a vital gauge of tenant satisfaction. It’s not just about scoring; it helps marketing managers understand what steps to take to enhance property reputation and attract new tenants, reflecting the overall perception of the property.

Actionable Insights:

  • Regular Surveys: Conduct regular NPS surveys to gauge tenant satisfaction and identify areas for improvement.
  • Act on Feedback: Implement changes based on tenant feedback to enhance their experience.
  • Segment Analysis: Analyze NPS by different tenant segments to understand specific needs and preferences.
  • Track Over Time: Monitor NPS trends over time to measure the impact of changes and identify emerging issues.

Example of Implementation: If NPS reveals dissatisfaction with maintenance services, consider improving response times and communication around maintenance requests.

8. Lease Velocity:

Definition: Lease velocity refers to the length of time a unit is unoccupied between leases.

Why It Matters: This KPI indicates leasing speed and efficiency. It’s not just about tracking time; it informs marketing approaches, pricing strategies, and outreach efforts, accelerating property occupancy for quicker revenue generation and improved property performance.

Actionable Insights:

  • Monitor Regularly: Keep a close eye on lease velocity to identify trends or anomalies.
  • Adjust Pricing Strategies: Experiment with pricing or incentives to reduce unoccupied time.
  • Analyze Market Trends: Understand market demands and align leasing strategies accordingly.
  • Collaborate with Sales: Work closely with leasing agents to ensure that marketing efforts translate into quicker leasing.

Example of Implementation: If lease velocity is slow during a particular season, consider offering limited-time incentives to attract tenants more quickly.

9. Website Traffic:

Definition: Website traffic measures the level of online engagement and reach for the property.

Why It Matters: This KPI allows real estate marketing managers to assess the effectiveness of their online presence. It’s not just about counting visits; it helps identify popular property listings, customize content, and attract more potential tenants, reflecting the property’s online appeal.

Actionable Insights:

  • Utilize Analytics: Use web analytics tools to identify popular listings and visitor behavior.
  • Customize Content: Tailor content to match visitor interests, enhancing engagement.
  • Optimize for Search Engines: Implement SEO best practices to increase organic traffic.
  • Monitor User Experience: Ensure that the website is user-friendly and responsive to keep visitors engaged.

Example of Implementation: If analytics reveal that virtual tours are highly viewed, consider creating more virtual content for other property listings.

10. Website Bounce Rate:

Definition: The website bounce rate indicates the percentage of visitors leaving the site after viewing just one page.

Why It Matters: This KPI is essential for understanding visitor engagement and guiding website optimization efforts. It’s not just about tracking exits; it’s about ensuring a positive user experience, maintaining visitor engagement, and improving lead conversion rates.

Actionable Insights:

  • Analyze Bounce Causes: Identify the pages with high bounce rates and analyze potential causes, such as slow loading times or irrelevant content.
  • Improve Navigation: Enhance site navigation to guide visitors to relevant content, keeping them engaged.
  • A/B Testing: Experiment with different layouts, calls to action, or content types to see what resonates best with visitors.
  • Mobile Optimization: Ensure that the website is mobile-friendly, as a significant portion of traffic may come from mobile devices.

Example of Implementation: If a specific landing page has a high bounce rate, consider redesigning it with clearer calls to action and more engaging visuals.

11. Cost Per Impression (CPI):

Definition: The cost per impression (CPI) metric calculates the cost of displaying an ad to users.

Why It Matters: CPI is crucial for making budget decisions in advertising. It helps in maximizing ad exposure while minimizing costs, enhancing branding efforts, and ensuring that advertising spend is efficient.

Actionable Insights:

  • Monitor Regularly: Keep a close eye on CPI across different channels and campaigns to identify trends or anomalies.
  • Adjust Ad Placements: Experiment with different ad placements and formats to find the most cost-effective options.
  • Targeting Optimization: Refine targeting parameters to reach the most relevant audience, potentially lowering CPI.
  • Evaluate Ad Performance: Regularly assess how impressions are translating into clicks and conversions to ensure that low CPI aligns with overall campaign goals.

Example of Implementation: If a particular ad placement is showing a high CPI without corresponding engagement, consider reallocating the budget to more effective channels.

12. Tenant Referral Percentage:

Definition: The tenant referral percentage measures the proportion of new tenants referred by current tenants.

Why It Matters: This KPI highlights the success of tenant referral programs and indicates tenant satisfaction. It’s not just about tracking referrals; it’s about encouraging valuable word-of-mouth growth and fostering a sense of community and trust.

Actionable Insights:

  • Promote Referral Programs: Actively promote referral programs to tenants through various communication channels.
  • Reward Referrals: Implement a reward system for successful referrals, incentivizing tenants to participate.
  • Gather Feedback: Regularly solicit feedback from tenants about the referral process and make necessary improvements.
  • Track Referral Sources: Understand where referrals are coming from and tailor marketing efforts accordingly.

Example of Implementation: If tenant referrals are low, consider launching a special campaign highlighting the benefits of referring friends, along with an attractive incentive for successful referrals.

13. Lead Velocity Rate:

Definition: The lead velocity rate measures the growth rate of generated leads over time.

Why It Matters: This KPI is crucial for real estate marketing managers as it provides valuable insights into emerging tenant acquisition trends. It’s not just about tracking numbers; it’s about understanding the dynamics of the market and allowing marketing managers to adapt strategies in response to evolving demands. It serves as an early warning system for shifts in market behavior, enabling proactive adjustments.

Actionable Insights:

  • Monitor Regularly: Conduct weekly or monthly reviews of the lead velocity rate to identify sudden changes or trends.
  • Segment Analysis: Break down the lead velocity rate by different channels or demographics to understand where growth is coming from.
  • Invest in Trending Channels: If certain marketing channels are showing a rapid increase in leads, consider allocating more resources to them.
  • Collaborate with Sales: Work closely with sales teams to ensure that increased leads are translating into conversions.
  • Utilize Analytics Tools: Implement lead tracking and analytics tools that provide real-time insights into lead velocity, enabling quicker responses to market changes.
  • Test and Learn: Experiment with new marketing tactics and measure how they affect lead velocity, fostering a culture of continuous improvement.

Example of Implementation: If the lead velocity rate from social media advertising is consistently growing, consider creating more targeted campaigns on those platforms. Conversely, if email marketing shows a decline in lead velocity, it might be time to reassess the content and targeting strategies.

14. Content Sharing Rate:

Definition: The content sharing rate measures the frequency of property content being shared across platforms.

Why It Matters: This KPI is essential for real estate marketing managers as it helps identify content that resonates with audiences. It’s not merely about tracking shares; it’s about understanding what drives increased brand visibility, greater lead generation, and broader audience exposure. It reflects the effectiveness of content in engaging the audience and spreading the brand message.

Actionable Insights:

  • Analyze Content Performance: Regularly review which types of content are being shared most frequently and why, to inform future content creation.
  • Encourage Sharing: Implement sharing incentives or create easily shareable snippets to motivate users to spread the content.
  • Collaborate with Influencers: Partner with industry influencers to amplify content reach.
  • Utilize Social Media Tools: Consider using social media management tools that provide insights into sharing metrics, enabling more targeted content strategies.
  • Create Shareable Content: Focus on creating content that provides value, engages the audience, and encourages sharing, such as infographics, videos, or insightful articles.

Example of Implementation: If a particular blog post about “Top Amenities in Modern Apartments” is being shared widely, consider creating a series of related content or a video tour showcasing those amenities. Conversely, if certain content types are not being shared, reassess their relevance and quality.

15. Marketing Contribution Margin:

Definition: The marketing contribution margin is a metric that assesses the impact of marketing efforts on overall revenue.

Why It Matters: This KPI is vital for real estate marketing managers as it helps in demonstrating the return on investment (ROI) of marketing activities. It’s not just about measuring success; it’s about understanding how marketing contributes to property profitability, optimizing resource allocation, and justifying marketing expenses.

Actionable Insights:

  • Regular Review: Conduct monthly or quarterly reviews of the contribution margin to identify trends and areas for improvement.
  • Align with Other Metrics: Compare the marketing contribution margin with other KPIs like Customer Acquisition Cost (CAC) and Lifetime Value (LTV) to get a holistic view of marketing efficiency.
  • Invest in High-Performing Channels: Analyze which marketing channels are contributing most to the margin and allocate more resources to them.
  • Collaborate with Sales: Work closely with sales teams to ensure that marketing efforts are translating into actual revenue.
  • Utilize Technology: Consider implementing marketing analytics tools that provide real-time insights into the contribution margin, enabling more agile decision-making.

Example of Implementation: If the contribution margin from social media campaigns is consistently high, consider increasing investment in those channels. Conversely, if traditional advertising shows a low contribution margin, it might be time to reassess or reduce spending in that area.


The KPIs outlined above are more than mere numbers; they are strategic tools that can transform marketing efforts. By understanding, monitoring, and acting on these metrics, real estate marketing managers can create a roadmap to success, aligning with organizational goals and continuously improving strategies for growth.

Effectively market your rentals on Facebook – Multifamily Guide 2023

In today’s digital age, property managers are spoilt for choice when it comes to reaching their prospective tenants. The internet offers a multitude of platforms where they can advertise properties. Among these platforms, websites such as Zillow and Zumper have gained popularity for their user-friendly interfaces and wide reach. But Facebook and its Marketplace have become really popular places to find tenants.

Why is Facebook so popular? Well, it has a vast user base which increases the chances of marketing content reaching a large number of people. And it also offers a variety of marketing tools that can be used to target specific demographics, thereby optimizing marketing efforts.

Why is it important for Property Managers?

Firstly, let’s understand the scale of Facebook’s reach and popularity.

Now the majority of renters in North America are also under 35 yrs of age, matching Facebook’s largest user base – making Facebook a must in your marketing strategy. Since almost all businesses use Facebook, it is crucial to improve the effectiveness of your marketing efforts, and this starts with understanding what you can accomplish with it.

What are the Facebook marketing options:

  1. Facebook Business Page
  2. Facebook Groups
  3. Facebook Marketplace

A property management company can utilize both Facebook and Marketplace for distinct purposes. Facebook Business Page is geared towards building a brand presence and establishing a lasting relationship with your target audience, whereas the Marketplace is focused on immediate sales and is more transactional in nature. The Marketplace attracts individuals with a clear intent to purchase, making the process much simpler. And the various Facebook groups available can be employed to amplify your marketing efforts.

Facebook Business Page:

At this point, most businesses will have a Facebook page – an essential and cost-effective marketing channel for engagement. Having a Facebook page can help increase awareness and build a following within the social media community while also providing a glimpse into the company’s operations. It’s important to remember to verify your page, as having the blue checkmark next to your account name can make a significant difference. Verified business accounts and pages receive more engagement and trust from users, increasing your chances of converting leads. Additionally, this platform has a lot of potential for growth if you continue to experiment with new ways of using the available formats. One can use these seven types of Facebook posts for rental marketing:

  1. Text Posts: The perfect tool for sharing quick updates about available properties or asking engaging questions to understand your audience’s rental preferences.
  2. Photo Posts: Use eye-catching images of your rental properties to draw in potential tenants. Showcase the unique features of your properties, from stunning interiors to beautiful neighborhood views, and make the most of this option.
  3. Video Posts: Much like a commercial, use this feature to provide a virtual tour of your rental properties. Show potential tenants the layout, features, and benefits of living in your property to grab their interest. You could also create promotional videos highlighting special offers or discounts.
  4. Live Video: Host a live Q&A session to answer queries about your properties. You could also conduct live virtual open houses, giving potential tenants a real-time view of your property.
  5. Pin Posts: Have an important announcement about a new property or a special promotion? Pin the post to the top of your page to ensure maximum visibility.
  6. Link Posts: Direct your followers to your website or blog, where they can find more detailed information about your properties. You could also link to resources that might be helpful for potential tenants, such as moving tips or neighborhood guides.
  7. Stories: Share day-to-day activities related to property management or give followers a sneak peek into the life of a tenant in your property. Limited-time promotions can also be shared via stories to create a sense of urgency.

Facebook Marketplace

The best way of having your rental marketed on Facebook for conversion will be to straight away target Facebook Marketplace because that is where all the renters are.

Let’s look at the different Facebook Marketplace marketing features and make the most of them:

Facebook Ad ManagerCommand center for crafting, steering, and scrutinizing adsActs as your digital real estate office, providing insights to fine-tune your rental property marketing strategy
Demographic and Geographic TargetingShape ads to resonate with specific age groups and geographical locationsEnsures your rental ads reach the right age group and location, like young professionals in the city
Interest TargetingAlign ads with users’ interests and lifestylesHelps you reach users who share similar interests, such as students and academics, if your property is near a university
Lookalike Audience TargetingFind individuals who mirror your current tenants or the ideal renter profile.Though not 100% successful all the time, it finds potential tenants who are similar to your current happy tenants, expanding your pool of potential renters
Custom AudiencesBlend various data points to form a laser-focused audienceAllows you to target individuals who have shown interest in your rental properties, visited your website, or interacted with your Facebook page
Ad PlacementDecide where your ads appearYou can choose to display your rental ads in the news feed, sidebar, or even on Instagram, reaching a wider audience.
Ad FormatsChoose from a variety of ad formatsSelect the format that best showcases your rental property and resonates with your target audience, from a photo of a newly renovated kitchen to a video tour of the entire property options.

Types of Marketplace ads:

It’s not effective to rely on safe and monotonous content when Facebook offers a variety of marketing options. To enhance your property management marketing strategy, it’s important to understand how each option can be utilized to achieve specific objectives and mix it up for the best results. These options are similar to Facebook ads but can also be utilized in Marketplace for a more focused approach.:

  1. Facebook Ads: Think of these as your digital “For Rent” signs. They can appear in news feeds, the right column of the Facebook website, or within videos, reaching users based on their location, demographics, and profile information and work like placing your ad in a neighbourhood that’s tailored to each reader’s interests.
  2. Boosted Posts: These are your regular Facebook posts with a megaphone and are PAID. They start as a standard post on your page, but with a little “boost,” they can reach a wider audience.
  3. Sponsored Stories: These are the digital equivalent of a tenant referral, like your tenant telling their friends about their great landlord! They showcase a user’s interactions, such as a Facebook like, to their friends, encouraging them to follow suit.
  4. Carousel Ads: Imagine a digital tour of your property where each slide can hold a different image or video, each with its own link. It’s like having a virtual open house where each room gets its spotlight.
  5. Dynamic Ads: These work like your personal leasing agents, promoting your properties to people who have shown interest in similar listings. It’s like a leasing agent who remembers every prospect’s preferences and recommends properties accordingly.
  6. Lead Ads: Exactly like digital rental applications and virtual open houses – they include a contact form, allowing interested individuals to leave their details for you to follow up
  7. Video Ads: These are your virtual property walkthroughs that work like a commercial showcasing your property in action.
  8. Slideshow Ads: These are lightweight, fast, and play well regardless of the connection speed. It’s like having a digital photo album that tells the story of your rental property.
  9. Collection Ads: These are like interactive property brochures, allowing people to discover, browse, and learn more about your properties directly from their mobile devices.
  10. Messenger Ads: Like a personalized invitation, these will appear in the Home tab of Messenger, leading people to a destination of your choice when clicked.

Getting your listing on Marketplace

Whether you prefer using your phone or the web, following these steps is easy and straightforward. By simply following the instructions provided below, you can easily accomplish your task and achieve your desired outcome.

  1. To add a new listing on Facebook, start by locating the Marketplace option on your homepage. Then, click on ‘ + Create new listing’

2. Click on the listing type that is exclusively for renting or selling a home.

3. Here, we have essential tabs required to enter information about the unit you wish to list. Provide detailed information such as up to 50 photos related to the unit, its type, size, number of rooms, price, starting date of availability, and most importantly, whether it is pet-friendly. Additionally, there is space to add a description where you can include other vital details you may want to add.

4. To increase visibility for your listings, finish by adding relevant groups to promote them. Facebook can assist you in finding these groups. Preview your listing and make any necessary changes before it competes with other units on the market.

Now, let’s move on to the crucial aspect – how to enhance your Facebook marketing strategies.

Remember ‘Boosted Post’ from earlier: You can create an advertising campaign for your listing to boost visibility and unlock more leads. Here’s how:

  1. Get to your Facebook Ad Manager portal from your Facebook home page. From here you can go on to create your ad campaigns.

2. When initiating an Ad campaign, select an objective like ‘Lead Generation’ or ‘Conversions’ that aligns with your rental business goals. Name your campaign for easy identification, especially if managing multiple campaigns. Choose a category to aid the Facebook Ad algorithm in boosting your ads. Regularly conduct A/B tests to gauge campaign performance and identify areas of improvement. Utilize the ‘Campaign Budget Optimization’ feature to maximize your advertising budget across different ad sets.

3. With the Ad Manager, you can choose your target audience for more effective marketing and set both your budget and schedule.

Pro-Tip: To make it more effective – don’t miss out on setting your performance goal from the options below. This will push the Facebook algorithm to match the objective of your marketing campaign.

4. When it comes to putting marketing assets on Facebook, you can add an image, video, carousel, or combination that your marketing team has decided on. Then, upload all the contents, including media, copy, and text.

Pro-Tip: Remember, marketing and advertising should include a definitive call to action to engage your target audience. Use the call-to-action feature on your Facebook ads to ensure your audience is acting on your advertising campaign.

Boosting your marketing effectiveness

  1. Spotlight on Your Brand: To increase brand visibility, make sure your listings on Facebook Marketplace are engaging and accurately represent your properties. Use high-quality images and compelling descriptions to make your brand stand out in the bustling digital bazaar.
  2. Conversations with Prospects: As Facebook is a peer-to-peer platform, leverage the power of direct communication. Stats show that people are 53% more likely to do business with people they can message. Respond promptly to messages from potential tenants and use these interactions to build relationships and initiate the tenant screening process. It’s like having a friendly chat over a virtual cup of coffee.
  3. Budget-Friendly Marketing: Take advantage of the cost-effectiveness of Facebook Marketplace. Experiment with different listing strategies and paid advertising options to find what works best for your brand. It’s like shopping at a thrift store for marketing – you can try new things without breaking the bank.
  4. One-Size-Fits-All: Think of Facebook as your digital tailor, expertly crafting your rental housing listings to fit the mobile screens of its vast user base. With its automatic optimization feature, your listings are trimmed and polished, ensuring they’re not just mobile-friendly, but mobile-perfect. So, let Facebook handle the details, and watch your rental properties shine on any device.
  5. Tailored Search Experience: Use detailed property information such as square footage, price, bedrooms, bathrooms, and rental type in your listings. This will help potential tenants refine their search and find your property more easily.
  6. Harvesting Testimonials & Reviews: Imagine Facebook as a bustling town square, where satisfied tenants can shout their praises from the rooftops. By encouraging and collecting testimonials and reviews on Facebook, you’re not just gathering valuable feedback, but also showcasing positive tenant experiences to potential renters.
  7. Leverage User-Generated Content: Encourage your audience to share their own content related to your business. This could be photos of them using your product, stories about their experience with your service, or reviews of your business. User-generated content is not only free advertising, but it’s also more likely to be trusted and shared by other users.
  8. The Wild West of Ads: No verification of the advertisement can make Marketplace very cluttered and busy. To stand out, provide comprehensive property information and website links in your listings. This will add a stamp of legitimacy to your ads and make them more appealing to potential tenants.
  9. Missing Landlord Portal: While Facebook Marketplace doesn’t currently offer property management protocol integration, you can still use it effectively for listing setup. For property management tasks, consider integrating Facebook with CRM tools to get a more comprehensive view of your marketing efforts.
  10. Automated Listing Ease: Picture Facebook Marketplace as your personal assistant, taking care of the listing process for you. With the ability to automate your property listings, you can ensure consistent visibility without the manual hassle. This means your properties get continuous exposure, even when you’re busy with other aspects of your business. It’s like having a tireless marketing team working around the clock, making sure your rental properties are always in the spotlight.

Data intelligence and analytics to improve marketing success: Cue CRM tools

  1. Meta Pixel (formerly Facebook Pixel): This is a piece of code that you place on your website. It collects data that helps you track conversions from Facebook ads, optimize ads, build targeted audiences for future ads, and remarket to people who have already taken some kind of action on your website. For example, if a potential tenant visits your website but doesn’t fill out an application, you can use pixel data to show ads to that person again on Facebook.
  2. Facebook Analytics: This tool provides insights into your audience’s behaviour. You can see how people are interacting with your Facebook page and ads, and use this information to make informed decisions about your marketing strategy. For example, if you notice that video ads are performing better than image ads, you might decide to invest more in video content.
  3. Integration with Other CRM Tools: You can also integrate Facebook with other CRM tools to get a more comprehensive view of your marketing efforts.

Remember, the key to effective marketing is testing and optimization. Use these tools to gather data, but also make sure to analyze that data and use it to improve your marketing strategy.

Retargeting rental ads = Higher Conversion

If your initial Facebook ads for your rental property didn’t spark the interest you anticipated, don’t lose heart. The wizardry of Facebook retargeting can bring an impressive return on investment. Studies reveal that retargeting can resurrect the interest of 26% of consumers who might have otherwise vanished into the realm of lost sales.

Moreover, when rental properties reappear in listings, it imprints a memory in users’ minds, reinforcing the authenticity of your property. This plays a pivotal role during the Interest and Desire stages when potential renters have already noticed your property and are contemplating whether to explore the possibility of becoming residents.

Being well-acquainted with your potential tenants’ characteristics is like having a secret map. It enables you to craft highly targeted ads with precision. If you’re missing this information, fear not. Make the most of features like Lookalike Audiences and Retargeting.

As you delve deeper into these features, you’ll witness a surge in your success rate. This can empower you to rent out properties at your desired rates and to your ideal tenants!

Facebook Groups:

Facebook Groups are like digital communities, brimming with individuals who share common interests. Imagine tapping into this goldmine of potential tenants for your rental properties. By strategically targeting your Marketplace listings and advertisements to these groups, you’re placing your properties directly in the line of sight of interested parties. In today’s digital age, it’s increasingly common for people to turn to these groups when looking for rentals. So, why not meet them where they already are? Harness the power of Facebook Groups and watch your tenant pool grow.

Find Inspiration with Facebook Ad Library:

  1. Peeking at the Competition: Consider the Ad Library as your private detective, offering a sneak peek into your competitors’ marketing strategies. Uncover their tactics, from the enticing messages they use to attract potential tenants to the creative elements they employ and the demographics they’re targeting.
  2. Catching the Trend Train: Use the Ad Library as your trend telescope, spotting the latest fads in the rental industry. By examining the ads run by various property management businesses, you can identify common themes, popular styles, and emerging trends.
  3. Burst of Creativity: Imagine the Ad Library as a vibrant art exhibition overflowing with creative ideas. Browse through ads from diverse industries, drawing inspiration from their visuals, copy, and overall presentation. You might discover a unique way to showcase a property, a compelling call to action, or an engaging storytelling approach that you can adapt for your ads.
  4. Performance Insights: For certain ads, the Ad Library turns into a data analyst, offering performance data like the number of impressions and audience demographics. These insights can help you understand what kind of ads resonate with different tenant groups.
  5. Learning from the Leaders: Look for businesses known for their successful rental marketing campaigns and study their ads. What makes them stand out? Is it the stunning property images, the compelling property descriptions, or the irresistible rental offers? Use these insights to shape your own strategy.

Remember, while the Ad Library is a fantastic source of inspiration, it’s crucial to maintain your unique brand voice and identity in your ads. In the world of rental marketing, authenticity reigns supreme!

RealSage for increasing effectiveness.

Realsage is a powerful tool that can significantly boost the effectiveness of your rental marketing on Facebook. Here’s how:

  1. Data-Driven Insights: Realsage harnesses the power of your data to provide meaningful insights, enabling faster and better decision-making. Monitor your leads to know which demographic is sending you the maximum leads and tailor your Facebook Marketing campaign according to the demographic. RealSage will also help you filter the demographic of your maximum prospects, understand what they are looking for under tags and give you essential information that can be used to design your marketing communication. Pro-tip: As we know, 68% of Marketplace users are women – won’t it help to know what women prospects are looking for while designing your next communication piece?
  2. Pricing Strategy: Get a comprehensive understanding of the competition asking rent and trends of price change in different areas before setting your rent. Realsage’s Price feature helps you maximize revenues and gain a competitive edge with this kind of up-to-date market rental data. This can guide your rental pricing strategy on Facebook Marketplace, ensuring it’s competitive and appealing to potential tenants.
  3. Performance Analysis: With Realsage, you can analyze portfolio and performance across all the marketing channels. This can help you understand which of your Facebook marketing strategies are working and which ones need improvement.
  4. Lead Management: Realsage’s Convert feature allows you to manage your leads-to-lease funnels like never before. This can help you track the effectiveness of your Facebook ads in generating leads and converting them into tenants.

By integrating Realsage into your Facebook marketing strategy, you can make data-driven decisions, manage leads more effectively, engage with tenants, and optimize your pricing strategy, all of which can significantly boost your marketing effectiveness.

How to Determine a Rental Price for Your Property: A Short Guide.

As a large-scale landlord, pricing your rental property correctly is key to maximizing your revenue and staying ahead of the competition. With the right tools and strategies, you can determine the optimal rental price for your property while also ensuring that it remains competitive in the market. In this article, we’ll explore the different factors that go into determining a rental price and how you can use historical rent price data to make informed decisions.

Determining a Rental Price

The first step in determining a rental price is to consider the location of your property. The location of your property will largely dictate the demand for rental units in the area, which will determine the price you can charge. For example, properties located in high-demand areas such as downtown or near popular amenities will typically command higher rental prices than properties in less desirable locations.

The next factor to consider is the size and features of your property. Larger properties with more bedrooms, bathrooms, high-end finishes, and appliances typically command higher rental prices. Additionally, the age of your property can also play a role in determining the rental price. Older properties may require more maintenance and upgrades and, therefore, may not command as much of a rental price as newer ones.

When determining your property’s rental price, it’s important to consider the current market conditions. The real estate market is constantly changing, and you need to be up-to-date on the latest market stats in order to make informed decisions. Understanding the average rental prices in your area, as well as the average rental prices for properties similar to yours, will help you determine the optimal rental price for your property.

It’s also important to consider market seasonality when determining your rental price. In many markets, rental prices tend to be higher during the peak rental season and lower during the off-season. For example, rental prices for beachfront properties may be higher during the summer months and lower during the winter months. Understanding market seasonality and adjusting your rental prices accordingly can help you maximize your revenue.

The Relation between Property Prices and Rent Prices

The relationship between property prices and rent prices is complex and can vary greatly depending on the location and market conditions. In general, property prices and rent prices tend to rise and fall in tandem. When property prices increase, rent prices also tend to increase as landlords are able to charge more for their properties. Conversely, when property prices fall, rent prices may also fall as landlords are forced to lower their prices in order to attract tenants.

Finding Historical Rent Price Data

In order to make informed decisions about your rental prices, it’s important to have access to up-to-date market data. This includes historical rent price data, which can help you understand how rental prices have changed over time and what to expect in the future. This data can help you understand the current market conditions and how rental prices have changed over time. Several sources of historical rent price data are available, including online real estate websites, local real estate associations, and government housing agencies. RealSage also offers one-click access to current and historical rental data for your local market to help you can make an informed decision on your rental prices.

Is it a Good Idea to Rent Your Properties Lower than Average?

Renting your properties below the average rental price in your area can be a good strategy if you’re looking to attract more tenants. However, it’s important to remember that you’ll be sacrificing potential revenue in the process. Additionally, renting your properties too far below the average rental price in your area may also make it more difficult for you to attract high-quality tenants.

Checking and Adjusting Your Rental Prices Regularly

Regularly reviewing and adjusting your rental prices is crucial for staying ahead of the competition and maximizing your revenue in the constantly changing real estate market. With RealSage Price, you can simplify the process of portfolio-wide pricing review and make quick, informed adjustments to your rental prices based on changing market conditions. This helps you ensure that you always optimize your revenue and stay ahead in the market.

In conclusion, determining the right rental price for your property requires careful consideration of various factors, including location, market seasonality, and the features of your property. With the help of market data and advanced tools like RealSage, you can make informed decisions regarding your rental prices. Regularly adjusting your rental prices in response to changing market conditions is key to staying ahead of the competition and maximizing your bottom line.