After your previous tenants have moved out, you will want to fill the vacancy as quickly as possible. A vacancy means your rental properties are not making any money, and your rental is a significant investment. Once you have good photos and copy, think about which marketing sources will net you the best tenants possible.
You should consider taking advantage of several different marketing methods instead of using only one avenue. There are multiple free ways to advertise your property in order to gain maximum exposure. In addition, you can use paid places to advertise if you can afford to do so.
5 Ideas For Marketing Your Rental Properties
Word of Mouth
Other tenants can be a fantastic resource for marketing your property as well as your own friends and family. You can also utilize social media, such as Facebook. Consider offering a reward for a referral that works, such as a market down on one month’s rent or a gift card.
The power of signage is real. Even a few “For Rent” signs can garner a significant amount of traffic. You can put the signs on the lawn or in a window that is easily seen by pedestrians and motorists. In addition, you can place a sign farther down the road with an arrow indicating your property. Many landlords get tenants for their properties just by using signs.
The internet offers several options for free classifieds and listings to advertise your rental property. Search for local listing sites that offer rental listings. Craigslist and Zillow are reputable websites that are completely free to use.
Even as traditional newspapers have become less popular, the classified section still thrives. Most newspapers have an online version now. People who are looking to rent are likely to check out the web classified listings. Find out what it would take to get your advertisement listed in the online classified section. Generally, there is a nominal fee for a set time frame, which you can easily make longer if necessary. Utilizing the online newspaper is a great and inexpensive option to put your advertisement in front of as many people as possible.
Property Management Company
A property management company, such as Keyrenter Orem, can take over the duties of advertising your vacant rental unit. If you do not have the time or do not want the responsibility of filling your vacancy, they will get the job done for you in a timely and efficient manner. After the vacancy is filled, they can continue to manage your property for you.