Advertising Rental Property

Advertising Rental Property

There are many different ways a​ landlord can advertise his / her rentals property. the​ kind of​ advertising that works best depends on numerous factors that include property characteristics, location, landlord’s budget, and​ whether he / she is​ in​ a​ hurry to​ rent. There are many combinations of​ advertising methods landlords and​ property managers use to​ achieve the​ best results, some of​ which are as​ under.

1. ‘For Rent’ Signs

The most common method of​ advertising is​ the​ putting up of​ a​ ‘For Rent’ sign, either in​ front of​ the​ building, or​ in​ one of​ the​ windows. a​ relatively cost-free method, it​ works best if​ a​ lot of​ foot and​ motor traffic goes past the​ building. it​ also helps if​ the​ building is​ as​ attractive as​ the​ rental unit.

2. Advertising in​ the​ Newspapers

As much of​ a​ tradition as​ ‘For Rent’ signs, newspaper ads are also available online, if​ the​ paper has an​ online version. Many potential tenants begin their search for​ a​ place to​ rent by scanning the​ classified ads in​ newspapers, while, out-of-towners can log on online to​ the​ local paper from wherever they are. Ads should always be placed in​ papers having many residential listings, as​ it​ has been found they work best.

And, they should be targeted to​ produce the​ right kind of​ prospective tenants i.e. if​ a​ landlord primarily rents out to​ college students, the​ best bet is​ to​ advertise in​ the​ campus newspaper or​ put up a​ ‘For Rent’ sign in​ the​ housing office. to​ play it​ safe, it​ is​ also a​ good idea to​ list the​ rental in​ a​ general newspaper, as​ well.

3. Neighborhood Flyers

As well, a​ landlord can post ads on neighbor hood public bulletin boards to​ be found at​ grocery stores, Laundromats or​ coffeehouses, complete with tear-off strips listing their phone number. However, if​ the​ property is​ upscale, this is​ not the​ best way to​ advertise for​ it, though there might be takers at​ the​ high-end gym down the​ street.

4. Listing Online

Online rental services have mushroomed like crazy in​ recent years, from national in​ scope, to​ regional. After finding a​ residential rental listing for​ your area, you can add your property to​ it.

5. Home or​ Apartment Finding Services

Home or​ apartment-finding services are very popular in​ some areas, with landlords paying to​ list their properties, though sometimes it​ is​ the​ tenants themselves, who pay the​ fee when the​ unit is​ rented.

6. Spreading the​ Word

Small-time landlords instead of​ advertising widely and​ screening potential tenants, find it​ easier to​ market their rentals through word-of-mouth i.e. telling friends, colleagues, neighbours, and​ current tenants. After all, people already living on your property will invite decent neighbours. So, when a​ property becomes vacant, simply send a​ note around to​ every one, asking them to​ tell friends or​ relatives about the​ available apartment.

7. Real Estate Offices

Many real estate offices handle rentals, but of​ course, there is​ a​ fee involved.

8. Property Management Firms

Going through a​ property management firm is​ the​ easiest way to​ do it. They handle advertising, showing tenants around, as​ well as, selecting tenants, collecting rents, and​ interacting with residents during tenancies (handling repairs, etc. etc.). a​ paid service, it​ is​ for​ landlords with large rental properties and​ no time to​ spare.

Next Steps

Once, the​ advertising has been done, the​ next step is​ to​ create a​ rental application and​ select a​ tenant. When advertising vacancies and​ selecting and​ rejecting applicants, read up on the​ Fair Housing Act, so as​ to​ avoid any inadvertent lawsuits. Evaluate prospective tenants by thoroughly checking out their rental applications, legal residency forms, and​ tenant consent forms for​ contacting references, performing credit checks and​ criminal and​ background checks.

The only way to​ avoid unnecessary litigation is​ by screening prospective tenants and​ conducting background checks. Simply visit for​ tenant screening and​ background check services.

You Might Also Like:

No comments:

Powered by Blogger.