When advertising property for rent, you should consider using several different advertising methods in order to appeal to as many people as possible. The type of advertising that will work best depends on several factors. These factors include the characteristics of the particular property, its location, your budget, and whether you are in a hurry to rent. It is important to first decide what kind of market population you are trying to reach and remember that different geographical areas attract different populations if renters. It is also important to identify your area and market rent (we use www.Rentometer.com) so that you do not waste time and money advertising the wrong terms.
A common form of advertising property for rent is word of mouth. It is a good form of advertising especially if you are looking to rent to someone similar to the people who are already renting from you. Rental agencies can successfully advertise and rent your unit. Leasing agents are usually real estate sales agents who specialize in leasing rental units. These agents usually charge a fee based on a percentage of the rent being asked and if when the agent finds someone ready, willing, and able to rent the unit.
Local newspapers will advertise property your rental in the area for a fee as well. You will typically place an ad in the classified section of the newspaper you choose to advertise in for a selected period of time. The price of the ad will depend on the size, which is determined by the number of letters or words used in the ad. City newspapers are similar to local newspapers except the price for advertising is usually more expensive since the circulation is typically wider. Rental guides and magazines are also available for advertising. Big rental complexes usually advertise in these types of guides. Advertising in these guides can be rather expensive, especially for a small property owner of only a few rental units.
Flyers are a good way to advertise your rental in areas around big institutions such as universities or hospitals from which you can recruit tenants. They require a little more active work since you will have to print them and then go and place them. Some institutions or stores that you place ads at or in may require their permission first before posting. In addition, For Rent signs are a very good form of advertising because they are inexpensive and easy to use. Placing a for rent sign in the yard or window of a unit can bring in a lot of potential tenants. Make sure the for rent sign is visible to passerby and that you use appealing colors on it. Black and yellow or black and orange signs are very eye-catching color schemes to put on a for rent sign.
The Internet is also a great way to advertise your property. There are several websites that offer advertising services for a fee, and others that offer that service for free, like Craigslist.org. There are also many sites that specialize in apartment rentals in a similar way that a classified section of a newspaper does. Prices for this type of advertisement vary. Some sites will require you to become a member of the site for a yearly fee. You could also develop your own website to list your available rentals. There are several software programs available that can help you design such a page (we use www.Postlets.com). The trick to advertising online is to get people to visit the site.
Whatever type of advertising you choose, make sure you take care when describing your rental. Use creativity, facts, and careful descriptions. Good advertising will lure in potential clients by painting a vivid picture in their mind of what the property looks like and don’t forget to add pictures whenever possible. Good luck and happy renting!