In our previous post, we explored some of the major factors that should be considered when investing in a vacation home for rental purposes. Part of being a successful landlord and earning money to pay for your mortgage is knowing to whom you are gearing your rental. Whether it’s a college city or a resort town, here is how to gauge your audience and earn top dollar for your rental. Next, protect your home with a New Jersey Vacation Home Insurance policy.
Target the right audience.
People don’t just move into a house, they move into a neighborhood. Whether they’re close to hiking trails, the pool, or excellent schools, each neighborhood has its attractions, and each of these amenities speaks to a different demographic. For example, if a neighborhood is a place where seniors congregate and a library and community center are available, target your marketing to an older demographic who would likely value these types of amenities, states Property Ware.
Choose the right method of communication.
If you’re targeting college kids or millennials, tap into social media. If you’re targeting senior citizens, market your rental in local newspapers and print ads. Choosing the right form of communication can increase your reach and draw more interest in your rental.
Understand the neighborhood.
What’s the predominant age group? What’s the neighborhood like? Are there a lot of renters? Get a feel for the neighborhood and book renters that reflect the demographic.
No matter who your audience is, remember to diversify the ways in which you communicate your message. If you’re focusing on a campaign targeting young renters, communicate through Facebook, Twitter, and Instagram, and take your marketing to local festivals and venues where youth are present. Try various approaches to reach the ideal audience with your marketing message, explains the article.
About Tri-State Insurance Agency
At Tri-State Insurance Agency, we are committed to protecting homeowners against the broad spectrum of perils they face. Whether it is your full-time residence or vacation spot, our homeowner’s insurance is custom written to meet your specific needs. For more information, contact our experts today at (973) 579-6776.