If you are renting a property, you need to get the word out as quickly as possible and to the most people . Simply posting the property on Craigslist or Trulia may not be enough. There has to be a sense of urgency, even if you have had little trouble finding tenants in the past. The closer you get to your current tenants leaving, the less negotiating power you have. You may be forced to take a tenant you aren’t fully comfortable with or to change the guidelines you have in place. However, these problems are irrelevant if you take the time to promote your property appropriately.
The first step you should take is to promote your property from the inside out. This simply means to start with your existing tenant and property and go from there. Ask your tenant if they know anyone who may have interest in the place. If the previous lease was a smooth one, there is no reason not to at least ask the existing tenants about renting again. If they decline, offer them an incentive for referring someone. In addition to asking the tenants, place a “for rent” sign in the corner of your yard with your name and phone number only. Lastly, you can buy a handful of small bandit signs and place them in high traffic areas around the house and in the neighborhood. These are very inexpensive methods to at least get your phone to ring and generate some interest.
From there, you can move on to social media and the internet. It is no secret that Craigslist and Trulia are a few of the go-to sites for renters and property owners. Posting your property is a good start, but you have to stay on top of it. Use as many pictures and descriptions as possible. Depending on your area, there may be dozens of other listings on any given day. You need yours to stand out and hold the attention of anyone who reads it. Once you have a post that you feel works, you need to post it every few days or so. After even one day, your post may not be on the first page – out of sight out of mind. Every day, or every other day, your property should be posted.
Lastly, if you are not utilizing social media you are not using your full resources. Between the friends or followers you have and anyone that shares your property, listing could be seen by hundreds of people. All it takes is one person to know someone or to personally have interest to get the house rented. You don’t need to be as diligent on social media as you would with Craigslist, but even once a week can make a big difference. The total cost for all of these methods of advertising your property is under $50, but could save you thousands to fill a vacancy. These can just be a starting point, but with these actions alone you can reach literally hundreds of prospective renters in any given week.
