Display a "For Rent" Sign
Employing a straightforward yet highly effective tactic, landlords can erect a prominent "For Rent" sign in the front yard or window of the property. Prospective tenants often drive through neighborhoods in search of rental homes, and neighbors may know individuals seeking rentals in the area. Ensure the contact phone number is clearly visible from the street; consider including a website address for the property; and verify with the homeowner's association (HOA) whether displaying a "for rent" sign is permitted.
Establish a Property Website
Even landlords with a single rental home can easily and affordably create a property website. Website builders like Wix, Weebly, and WordPress.org provide pre-designed templates tailored for real estate and rental properties. Include essential information on the website, such as an engaging property description, high-quality photos, a 3D video tour, floor plans, the number of bedrooms and bathrooms, the monthly rent price, available move-in date, and contact details for the landlord or property manager.
Harness the power of social media's network effect by sharing information about available rental properties on platforms like Facebook, Twitter, and Instagram. Request friends and family to promote the property on their own social networks, as social media usage is ingrained in most people's daily routines. Additionally, the Facebook Marketplace is an excellent avenue for advertising rental properties, and posting an account status update along with a photo of the rental home on Instagram can further amplify visibility.
Consider Newspaper Advertising
Print media remains a viable method for attracting tenants, particularly in smaller cities or urban areas where community newspapers circulate. Consult with the newspaper to determine peak readership days and schedule advertisements for those periods. Rental real estate ads are typically concise, so be prepared to use abbreviations such as BR for bedroom. Alternatively, consider allocating a slightly larger marketing budget to feature a more prominent classified or display ad.
Printing and distributing flyers can effectively spread the word about available rental properties or announce upcoming open houses. Treat rental property flyers as sizeable classified ads, including pertinent details such as property descriptions, monthly rent, available move-in dates, landlord or property manager contact numbers, property website addresses, and social media account information.
Public spaces like grocery stores, churches, community centers, and laundromats often have bulletin boards frequented by numerous individuals. Posting a modified version of the rental property flyer used for distribution, complete with eye-catching headlines and compelling photos, along with tear-off tabs containing contact information, can capture the attention of passersby who may be prospective renters.
Forbes highlights word of mouth marketing as the original social media platform, and it remains one of the most effective methods of advertising. Informing everyone within a landlord's professional network that a rental home is available can quickly lead to finding qualified tenants. Additionally, existing tenants may have acquaintances, friends, or coworkers searching for suitable rental properties.
Some landlords even offer a small referral fee to tenants who successfully refer an applicant that ultimately rents the property. By employing these diverse and proven strategies, landlords can maximize their chances of finding exceptional tenants for their rental properties.