Advertising Your Rental Property Effectively
By Sadiya Anjum
A Rental vacancy for too long is never good news. The owner will have to shell out money for maintenance, mortgage, utilities etc. from his own pocket until the next tenant comes in. Finding a good tenant becomes necessary to avoid all these hassles as well as keep the money flowing in.
The key to advertising successfully is to know which media to use and how to use it effectively. For instance, if you are placing an ad in the newspaper putting up pictures of your home is too expensive an affair; or placing only text on the internet is not utilizing the potential of the web fully. It is a bit like using a plain text ad on tv!
When you are looking to advertise your rental property you need to determine your budget for advertising and utilize the right media for it. Here are some pointers to keep in mind when advertising in any of the following media:
Yard Sign: These come in various models today and choosing any of them to put up on your yard is a relatively good move. This is usually to target those who drive by and sort of shout out to the world that this property is for rent.
Newspaper: Newspaper classifieds are a common way to target those who are looking to rent in the same city or town. What you must do is run the ad for a couple of days and mention the absolutely important details. It is also essential that you word the whole ad properly and to the point. If you have advertised online, you can include the web page address in the newspaper ad so those interested can get more details online. This will sieve out those who are not interested saving you the trouble of showing the place unnecessarily.
Flyers: Print out a few flyers written attractively with the essential details. You can put these up on bulletin boards of various stores in the neighborhood and perhaps even your community centre. If your vacancy has not been filled despite other advertising attempts, then you may consider handing out flyers at mass or some other gathering.
Word of Mouth: It is really interesting to note how powerful this medium is. People who see your flyers or yard sign may pass the word around to those who may be interested. But since this is not in your control, you need to put the word out there yourself. So inform your friends, family, neighbors and colleagues about your vacancy. You can even ask your previous tenants to refer to others before they leave. You may if necessary offer a small fee to them if they find you a suitable tenant. This works well in smaller cities and towns especially if there is a significant percentage of student population.
Internet: These days advertising online is extremely effective and produces good results. Its not just out-of-towners who will read about your vacancy, it may include even those who live just a couple of blocks away. These days, people look online first when they are searching for places to rent. When using this medium, you can get really creative. A lot of information can be provided with pictures.
When you include pictures, make sure they are good quality ones of the front yard/ home exterior, bedrooms, kitchen and any other unique aspect you may want to highlight. The text provided should be relevant, to the point and preferably in bullet points making it easier for people to read it.
Apart from these media, some people even advertise on the radio or tv. This is usually a very expensive affair and makes sense only if you have several rental units. For all others, just stick to the above media and use them effectively. More than advertisements, it is the product that matters. If your rental property is decent then there will be people knocking on your door
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