For landlords operating in today’s property market, renting is a profitable proposition. Though there are plenty of prospective tenants out there, ensuring they find you is the hard part. This can be achieved with effective marketing methods. Knowing where to start is the hard part, but with the right advertisements, tenants will come to you.
Once you’re ready to market with appropriate photos and copy, consider elite marketing sources to deliver your message to the right people. For the best results, it’s good to use multiple channels rather than limiting yourself to one approach. This maximizes exposure, but it’s largely dependent on your marketing budget.
Regardless of the method, your priority is to ensure as many qualified applicants as possible are aware that your property is ready and waiting.
Word of Mouth
When it comes to finding potential tenants, sometimes other tenants are the most helpful resource. If they’ve had a good experience with you, tenants are more likely to spread positive words to friends, family, and co-workers. When you have a new property available to rent, tell existing tenants to spread the word.
A great incentive is including a finder’s fee, which will encourage people to refer others and ultimately fill vacancies for you. You can also let your own friends and families know you have an opening. And, of course, take advantage of social networking.
This conventional method is still highly effective. When people travel by and observe a “For Rent” sign, if they’re looking for a property and given an opportunity to see it firsthand, this bodes well. Without signs of this nature, prospective tenants could view a property yet have no idea it’s available.
Put a prominent sign in the window and on the front lawn, since this will get the attention of pedestrians and motorists. If someone isn’t looking for a place themselves, they may know someone who is and refer them via word of mouth.
If your property is located in a quiet area, perhaps put a sign up in a busier, neighboring place with an arrow pointing in the direction of the property.
Free Online Listings
There are various opportunities online to advertise rental property for free. These are great for notifying potential tenants of your property, especially in an age where consumers seek to fulfill their objectives online. There are various renowned listing sites to choose from, and by conducting a simple Google search you can find one that suits your individual needs.
Free online listings are a great way of getting your message to various people. You can showcase the potential of your property too, by including photographs and accurate descriptions.
Online Newspaper Ads
Traditional newspapers are slowly losing relevance as people continually look to online platforms instead. You can capitalize on this by including adverts in online newspapers.
Contact your local or regional newspaper to see if you can get your property listed in there. They will probably charge a nominal fee for placement, but you’ll recoup this money with a successful outcome.