Are professional photos really worth it for your investment property?
With your investment property, you only have one chance to make a good first impression. As potential tenants browse their favorite real estate websites, your property must stand out and entice them to click for more information. Professional photography is one of the simplest ways to attract good tenants to your property. Continue reading for an overview of why professional photos are worthwhile.
You rent your property faster
The goal of your online property listing is to get people to not only click through from the search results page, but also to inspect and apply for the property. Property with professional photos is estimated to rent 70% faster than a property without professional photos. With professional photos, you can turn a week of vacancy into a week in which a tenant looks at the property and decides to rent it, making the investment worthwhile.
Consider the following example: A property has been vacant for three weeks and is listed for $1800 per month (or $450 per week). So far, the landlord has lost $1,350 in rent. Professional photography costs $200 for eight photos, which includes editing. The landlord decides to proceed with professional photos, and the property is relisted with the updated photos a few days later. A tenant has viewed the property, applied, and been approved within 48 hours. The property is leased in days, not weeks, with an investment of less than half a week’s rent.
Professional photos get the lighting right
Poorly lit photos are the quickest way to get a potential tenant scrolling past your property. You don’t get the expertise of a photographer who can use lighting and composition to make your property look appealing if you just use your phone or get a property manager to use a camera. Furthermore, a wide-angle lens allows you to capture more of your property, so tenants can see at a glance if their furniture and appliances will fit.
You attract higher quality tenants
A high-quality tenant is picky about their next residence. Professional photos and well-written copy for your property listing will ensure that you get interest from good tenants who will take care of your property and pay their rent on time. In addition, if you receive multiple applications, your property manager can be selective in recommending a tenant.
Professional photos are a tax deduction, plus they’re reusable
Professional photographs are deductible as an expense related to managing your investment property. Even better, you can re-use your photos when it comes time to lease or sell the property.
Professional photos, while an investment, will help you lease your property faster, attract quality tenants, and provide you with great marketing collateral to re-lease or sell your investment property in the future. If you’re considering professional photos for your property, talk to your property manager about who they recommend for capturing all of your property’s best and brightest features.
Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.
