- The Australian government is addressing the rental housing crisis, where many Australians are struggling to find affordable and secure housing.
Causes of the Rental Housing Crisis:
- Negative gearing and capital gains tax discounts make housing too expensive for many.
- Lack of public housing.
- Policies that have turned houses into investments.
Consequences of the Rental Housing Crisis:
- Mum's begging for homes, pensioners can't afford most rentals, and kids are sleeping in cars.
- Flood victims are living in tents.
- Renters now need to hire agents to secure a lease.
- Rent prices are skyrocketing across the country.
- The government has introduced an aspiration to build one million new homes over five years, but this may not be enough.
- More public housing, rent assistance, and tenant protections are needed.
- However, many MPs own multiple properties, so they may not prioritize fixing the rental crisis.
- The rental housing crisis in Australia is a result of policies that have made housing too expensive for many and a lack of public housing.
- The government's response, while a step in the right direction, may not be enough to solve the crisis.
- More needs to be done to ensure that every Australian has access to affordable and secure housing.
Ads for shared bedroom rentals popping up in Toronto
The rental market in Toronto has been experiencing surging prices, leading to concerning advertisements for half rooms and bunk beds shared with strangers. At the same time, inflation and particularly food inflation rates have been rising, hitting low-income Canadians hardest. In response, the federal government has proposed a plan to mandate more electric vehicles on Canadian roads.
- Ads for half rooms and bunk beds shared with strangers indicate surging rental prices in Toronto
- Growing number of such ads, many with no privacy, as well as listings for shared rooms with dividers
- Price of around $700 per month, compared to average one-bedroom apartment cost of over $2,500
- November inflation report shows food inflation rate surged to 11.4%, higher than October
- Meat up 6.2%, dairy up over 11%, eggs up 16.7%, baked goods up 15.5%, restaurant prices up 7.7%
- Anti-poverty advocates concerned about impact on lowest income Canadians
- Bank of Canada has raised interest rates seven times this year to try and combat inflation, but not working for food prices
- Federal government proposing mandate for more electric vehicles on Canadian roads
- Starting in 2026, 20% of passenger cars and trucks sold need to be electric
- By 2030, 60% of all cars and trucks sold need to be electric
- By 2035, every single passenger vehicle in Canada will need to be electric
- Manufacturers could face penalties if they don't meet targets
- Market has a long way to go, with only 7.2% of cars and trucks sold in Canada this year fully electric.
The rental market, inflation, and the push for electric vehicles are all significant issues impacting Canadians. While the government's proposal for mandating more electric vehicles is ambitious, it remains to be seen how successful it will be in addressing the concerns around rising prices and inflation.
How To Create the Best Rental Advertisements!
Today, we're discussing rental advertisements and how to create an effective one. Here are some key points to keep in mind:
1. Determine your lease terms, including rent amount, deposit amount, and lease length.
2. Use professional photos to showcase your property.
3. Clearly outline your applicant screening process in the ad.
4. Highlight property features and amenities, such as washer and dryer, pet policy, and parking.
5. Promote surrounding area amenities, like shopping centers and public transportation options.
6. Consider allowing pets, as pet-friendly ads tend to attract more inquiries.
7. Post your ad on popular rental advertising sites, like Zillow.
8. Keep an internal list of qualified tenants for future rentals.
9. Double-check all information before posting.
By following these tips, you can create a comprehensive and effective rental advertisement that will attract qualified tenants and lead to successful long-term rentals.
Running Paid Search Ads For Your Vacation Rental Business
Paid Search Ads: The Best Way to Get Direct Bookings for Your Vacation Rental Business
If you want to get direct bookings for your vacation rental business, paid search ads are the way to go. Google earns $146 billion per year from paid search ads, and Google paid traffic is the highest intent and highest converting traffic that you can access instantly. But before we dive into why running paid search is a good idea, let's first run through the basics of what paid search actually is, specifically from the Google point of view.
What is Paid Search?
Paid search ads are the four ads that show up at the top of the search results page when you do a search on Google. These ads are predicated upon the search that you did, the location you're searching from, and which advertiser chooses to bid on that specific keyword. The most important terms and concepts that you should understand before running paid search campaigns for your vacation rental business are:
- Cost per click (CPC): The amount you pay to get a single visitor to click on one of your Google search ads and visit your website directly.
- Daily budget: How you control how much money you're actually spending on getting that traffic to your website.
- Keyword or query: The term you're choosing to bid on inside of Google search.
- Ad copy or ad creative: The actual text that shows up when someone does the search, and most importantly, decides if they're going to click on your ad or not.
The Great Reset:
The amount of money being spent on Google paid search ads in the vacation rental industry went down to zero in many cases due to COVID-19. However, a lot has changed since then, and now is the time to invest in paid search ads for your vacation rental business. Google Ads is one of the best channels you can utilize to drive results for your business.
Paid search ads are the best way to get direct bookings for your vacation rental business. Understanding the basics of running paid search is crucial before you dive in. The most important terms and concepts to understand are CPC, daily budget, keyword or query, and ad copy or ad creative. Now is the time to invest in paid search ads for your vacation rental business, and Google Ads is one of the best channels you can utilize to drive results.
Use FACEBOOK Marketing For Your Vacation Rental | FREE TRAINING 2022
In this video, Piers from growyourbmb.com discusses vacation rental properties and how to market them effectively on Facebook. He highlights the importance of understanding guest behaviors and using specific platforms to attract them.
1. Facebook Groups: Piers recommends joining Facebook groups related to vacation rentals to connect with potential guests and promote your property. He shares an example of a group where people are looking for holiday rentals in Spain and hosts are responding with availability and details.
2. Facebook Page: Creating a Facebook page for your business is crucial for communication with clients and promoting your property. Piers suggests posting marketing designs or leaflets, and leaving a link to your Facebook page to increase organic traffic.
3. Understanding Guest Behaviors: Piers stresses the importance of understanding the behaviors of leisure guests, families, and vacation renters. By analyzing their booking patterns, you can tailor your marketing strategy to attract them more effectively.
4. Unique Approach: Piers believes that using Facebook to market your vacation rental property is a unique approach that can yield great results. By consistently posting on Facebook and using the right hashtags, you can increase your visibility and attract new guests.
Piers emphasizes the importance of marketing vacation rental properties effectively to increase direct bookings and profits. By using Facebook groups, creating a Facebook page, understanding guest behaviors, and taking a unique approach, you can successfully promote your vacation rental property to potential guests.
Top 25 Sites to Advertise Rental Property | American Landlord
As a property manager or landlord, finding the right platform to advertise rental properties can be a daunting task. While some properties can be filled with just a sign in the yard, others require online marketing. In this episode of American Landlord, we discuss the top 25 online marketplaces for property managers and landlords to advertise their rental properties.
While most online sites charge a listing fee, they are generally much less than tenant placement fees paid to agents, which is usually equivalent to one month's rent. Therefore, online marketplaces are a cost-effective way to advertise rental properties.
Top 5 Most Popular Websites:
1. Apartments.com: preferred by larger communities and property managers.
2. Zillow: suitable for small landlords and has a large network.
3. Hotpads: ideal for higher-end rentals.
4. Craigslist: has billions of page views each month, but be mindful of fraudulent activity.
5. Facebook Marketplace: a great site as long as you have a Facebook account.
Remaining 20 Websites:
1. Apartment List
2. Apartment Finder
3. Apartment Home Living
9. By Owner
14. Walk Score
15. Apartment Guide
16. My New Place
17. People with Pets
18. Rent Cafe
19. Rent Hop
Advertising rental properties on online marketplaces is a cost-effective way to reach a wide audience. While the top 5 websites are suitable for different types of properties, the remaining 20 websites offer additional options for property managers and landlords. It is important to properly vet each applicant and be cautious of fraudulent activity on certain websites.
Best Rental Listing Sites for Hosts
In this video, the hosts discuss the best sites for listing your property for short-term rentals. They provide information on various online travel agencies or OTAs and recommend starting with Airbnb.
Best Platforms for Short-Term Rentals
1. Airbnb - great for beginners and easy to use.
2. VRBO/HomeAway - similar to Airbnb but with more complexity, requiring a property management system (PMS) and payment processor.
3. Booking.com - a popular OTA with a larger audience, recommended after getting familiar with Airbnb and VRBO.
Using a Channel Manager
Once comfortable with multiple OTAs, a channel manager can be used to market to niche platforms, such as ItaliansOnly.com, to reach a specific audience.
Starting with Airbnb and progressing to other OTAs and incorporating a channel manager can help increase bookings and reach a wider audience. It's essential to consider the complexity and payment processes involved with each platform and the audience they attract.