There is generally a high demand for rental property. But the key to uniting
those excellent renters with the rental property they seek is advertising. And
finding the best advertising sources is vital.
Advertising your rental property may seem like no big feat. Make a quick stop
by the local newspaper, turn in your information and pay the fee, then wait for
the phone to start ringing. The only problem with that plan is that you’re going
to have one ad among dozens – or even hundreds. What’s going to make your ad
stand out so that your phone does start ringing? And are there other effective
ways of advertising your rental property other than the newspaper ads?
There are lots of other options for advertising rental property, including
lots of online rental sites. The key to choosing the most effective way to
advertise is to place your ad in places that people look. You can put an ad on
every light pole in your neighborhood advertising vacation rentals in Italy, but
you won’t get any calls unless people in your neighborhood are scouring
telephone poles for Italy vacation rentals. By the same token, don’t advertise
your Michigan rental property in a publication dedicated to vacation rental
property in Florida.
Websites are no doubt one option, but choose your sites carefully – even if
you have the opportunity to advertise rental property for free. You’ll be judged
(at least to a degree) by the company you keep. If you’re advertising your
rental property in a publication that’s used mainly by slumlords and those with
substandard rental property, you’ll be overlooked as a potential source for
quality rental homes – even when you advertise elsewhere – if people begin to
recognize your name and contact information.
Depending on where your rental property is located, you may need to look at
some creative advertising options. Do you have property near a college campus
that would be suitable for a student or a group of students? Advertise in the
college newspaper and on the college radio station. If there’s a popular radio
advertising program in your area (sometimes called a “swap shop” or “trade”
program), you may have an instant (and free) advertising outlet. Be sure to ask
about the rules of advertising ahead of time.
There are lots of free advertising newspapers around the country and those
can sometimes be a good place to put rental property ads. Before you decide,
take a look at how many others are using that source. There’s a rather delicate
balance needed. If no landlords are offering rental property in that paper, few
people in the market for a rental home are likely to look there. On the other
hand, if there are hundreds of ads every week, you need to find a way to make
your rental property advertisement stand out from the rest.
You may be able to pay extra to have your advertisement at the top of the
column. Graphics and gimmicks may help, but simple wording is probably your best
friend when it comes to your advertisement for rental property. The majority of
people who are seriously looking for rental property are going to sit down with
the newspaper prepared to read over the entire rental section.