How to Advertise for a Tenant
Place signs at the property., Hang a banner on your rental property., Advertise with large local institutions., Hire a property manager., Employ a real estate office., List your rental property with a listing company., Be prepared to answer...
Step-by-Step Guide
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Step 1: Place signs at the property.
Purchase "For Rent" signs at your local home improvement store.
Be sure to add contact information, as well as the number of bedrooms and bathrooms, and the monthly cost of rent.
Place the signs on a part of the property that is most likely to be seen.
The two best options are near the front of the property near the road, or hanging in the front windows.If there is enough room on the sign, include information on amenities such as a garage, or important specifics about the lease, such as whether or not pets are allowed.
Don’t assume that the importance of signs has dwindled.
Though other technologies have certainly increased in importance, signs can still attract tenants to three out of every ten properties on the market. -
Step 2: Hang a banner on your rental property.
If you have more than one similar property and advertise for tenants on a regular basis, get a reusable banner.
Banners are larger, more durable, more eye-catching, and even more professional looking than yard signs, and the information they contain can be seen from a further distance.
Be sure to include contact information and generalized information about the types of properties you rent.
The more similar your properties are, the more specific information you can include. (For instance, if you rent out multiple two bedroom units for the same price, you may want to include this information on a banner too.) , Universities and large corporations in your area will likely have housing offices to assist students and employees find somewhere to live.
Most of the time, these offices will list or otherwise publicize your rental for free, or for a nominal fee.Corporate housing offices can be a great way to find a responsible tenant.
You know they have a job, and likely passed several screenings in order to get that job.
Their employer effectively “pre-screened” them for you. , You can hire a property manager or property management company to handle almost aspects of managing a property.
They will advertise, show, and help choose a tenant, as well as collect rent and handle correspondence with current tenants.
This is the best way to reduce the amount of time you spend handling a rental property, though these services come at a substantial cost – often a portion of the rent collected., Real estate agents specialize in selling properties, but will also handle rentals.
Of course, they will charge a relatively sizeable fee.
In return, they’ll do almost all of the work involved in advertising a property.
Expect to pay a small percentage of the rent, or perhaps the equivalent of a month’s rent.
The agent or office will likely be happy to advertise, show, and potentially even choose a tenant for you., Perhaps the easiest, and potentially the quickest way to find a tenant is by hiring a company that specializes in advertising to prospective tenants.
Specific companies will take different, multi-variate approaches.
Online advertising is becoming increasingly prevalent, and allows companies to reach large amounts of potential renters in a short amount of time.
Be sure to provide a company you hire to advertise for you with photos of the property and a full description of all necessary information.
You may also want to provide an employee access to the property to take photos or write a description themselves. , As soon as you start advertising your property for rent, people will start contacting you with questions and interest.
Having your phone with you and making yourself available to answer calls is the best way to ensure you can stay on top of correspondence with potential tenants.
In fact, interested parties are often more likely to come and see the unit if you answer their call.
If email is your preferred method of communication, be sure to answer all emails conveying interest as quickly as you can.If you do not have the availability to answer phone calls or emails, consider hiring someone to handle correspondence regarding your rental property. -
Step 3: Advertise with large local institutions.
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Step 4: Hire a property manager.
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Step 5: Employ a real estate office.
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Step 6: List your rental property with a listing company.
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Step 7: Be prepared to answer inquiries quickly.
Detailed Guide
Purchase "For Rent" signs at your local home improvement store.
Be sure to add contact information, as well as the number of bedrooms and bathrooms, and the monthly cost of rent.
Place the signs on a part of the property that is most likely to be seen.
The two best options are near the front of the property near the road, or hanging in the front windows.If there is enough room on the sign, include information on amenities such as a garage, or important specifics about the lease, such as whether or not pets are allowed.
Don’t assume that the importance of signs has dwindled.
Though other technologies have certainly increased in importance, signs can still attract tenants to three out of every ten properties on the market.
If you have more than one similar property and advertise for tenants on a regular basis, get a reusable banner.
Banners are larger, more durable, more eye-catching, and even more professional looking than yard signs, and the information they contain can be seen from a further distance.
Be sure to include contact information and generalized information about the types of properties you rent.
The more similar your properties are, the more specific information you can include. (For instance, if you rent out multiple two bedroom units for the same price, you may want to include this information on a banner too.) , Universities and large corporations in your area will likely have housing offices to assist students and employees find somewhere to live.
Most of the time, these offices will list or otherwise publicize your rental for free, or for a nominal fee.Corporate housing offices can be a great way to find a responsible tenant.
You know they have a job, and likely passed several screenings in order to get that job.
Their employer effectively “pre-screened” them for you. , You can hire a property manager or property management company to handle almost aspects of managing a property.
They will advertise, show, and help choose a tenant, as well as collect rent and handle correspondence with current tenants.
This is the best way to reduce the amount of time you spend handling a rental property, though these services come at a substantial cost – often a portion of the rent collected., Real estate agents specialize in selling properties, but will also handle rentals.
Of course, they will charge a relatively sizeable fee.
In return, they’ll do almost all of the work involved in advertising a property.
Expect to pay a small percentage of the rent, or perhaps the equivalent of a month’s rent.
The agent or office will likely be happy to advertise, show, and potentially even choose a tenant for you., Perhaps the easiest, and potentially the quickest way to find a tenant is by hiring a company that specializes in advertising to prospective tenants.
Specific companies will take different, multi-variate approaches.
Online advertising is becoming increasingly prevalent, and allows companies to reach large amounts of potential renters in a short amount of time.
Be sure to provide a company you hire to advertise for you with photos of the property and a full description of all necessary information.
You may also want to provide an employee access to the property to take photos or write a description themselves. , As soon as you start advertising your property for rent, people will start contacting you with questions and interest.
Having your phone with you and making yourself available to answer calls is the best way to ensure you can stay on top of correspondence with potential tenants.
In fact, interested parties are often more likely to come and see the unit if you answer their call.
If email is your preferred method of communication, be sure to answer all emails conveying interest as quickly as you can.If you do not have the availability to answer phone calls or emails, consider hiring someone to handle correspondence regarding your rental property.
About the Author
Frank Perry
Specializes in breaking down complex pet care topics into simple steps.
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