Advertising Rental Property

Topping the list of business strategies for rental property is advertising. It seems to be the only means to publicized, declare, promote, encourage and tender rental properties. Traditionally, when someone or a business entity needs to publicly declare rental properties they always advertise.

In general, when advertising rental property there are basic important information that needs to be emphasized about the number of bedrooms and bathrooms, the square footage, its location and accessibilities and the rental price. These advertisements should accurately indicate the condition of the property. It would help if there are accurate photos of the property for rent.

Renting property is basically open to everyone. In advertising rental properties, landlords should avoid discriminatory requirements such as gender, religion, disability, familial status and race. For an open rental property for example, it is offensive and improper to use words like single, adult building and women or men alone. Unless the building is devoted to senior citizens, it is best to avoid language that refers to age.

Here is a list that contains a variety of ways on how to advertise rental property.

The traditional “For Rent” Sign

One of the best ways to advertise is using a “For Rent” sign in the window or yard of a property. This is not only cost efficient but effective in areas where foot and car traffic is heavy. This method is effective to potential renters who can see the building as they pass it especially if the building’s exterior has great curb appeal. Passersby will like to see the interior if they are attracted to the building’s exterior. Include in the sign details about the parking, bedrooms and bathrooms, and the rental price.

The Online Advertising

Rental property vacancies are now advertised online. It is the quickest way to publicly tender the availability of rental units to potential tenants. Check out national sites and local real estate sites for advertising opportunities. With more people using the internet today, online advertising is the best way to reach potential tenants that are living in the area and moving to the area. Always include the basic important information in these advertisements. Add your contact information such as telephone numbers and email addresses.

Advertising through Newspapers

Another traditional and time tested method is advertising through newspapers. Today, newspapers have online editions often available that can reach more potential renters than before. There are specialty newspapers such as college presses and locally published magazines that a landlord can also consider placing advertising.

Using the Neighborhood Flyers Method

Often, one of the best places to advertise a vacancy is the neighborhood where the property is located. Local residents living in the area can easily be notified of the vacancy by giving away flyers. Flyers can be distributed in laundry mats, college campuses, or even on neighborhood gyms. Flyers can also be placed in grocery stores, or posted in bulletin boards in public places. Simple flyers with the landlord’s phone number can cost less but can prove as effective as the more expensive forms of flyers.

The Word-of-Mouth Method

There are cases where the simple word-of-mouth method is all the advertising you need. Your family members, friends and their families, colleagues and office mates can also spread the word about vacancies. Current tenants in the building are very good channels if the landlord can encourage them to tell relatives, co-workers and friends about the vacancies. Many of us would rather have a friend as a neighbor than a stranger. The landlord can offer a finder’s fee or a referral fee as an incentive.

Post Notices at Corporate Housing Offices and Universities Method

There are several universities and huge corporations that maintain and keep a list of available rental properties nearby. A landlord can usually post notices of a list of rental properties for free or for a small fee to Universities and Corporate Housing Offices. For a landlord to be accredited, corporate housing and universities perform screening and background checks. Once approved, the post notices are offered to potential renters employed by the company or students in the university.

Employing an Apartment-Finding Service

When it is difficult to find renters, you can resort to employing an apartment-finding service. They can generate enough traffic of potential renters. Employing them means the landlord pays the fee for the listing. But there are some services that also charge potential tenants for finding a rental unit. These service providers are always available online.

Special Tips: High End Rentals and Owners with Multiple Units

Let us understand that not every advertising method is appropriate for all types of rental properties. The higher end rentals with multiple properties may need to use more aggressive methods:

1. Advertising in rental magazines

Landlords with multiple residential properties for rent typically advertise in a national rental magazine. These rental magazines usually contain advertisements for large rental units. Property listings come with photos and detail of the property.

2. Employing a property management company

Property Management Companies are professionals hired to handle all the aspects of renting a property. These also include; advertising, tenant selection, rent collection, building maintenance and repairs.

3. Employing a real estate agency

Real estate agencies are also professionals who deal in rental properties. Typically, they charge 10 percent of the rent or one month’s rent for advertisements and showing the property. Sometimes, real estate agents prefer to select the tenant for a rental property.