5 Ways to Advertise Your Rental Property
When one of your rental units becomes vacant, you’re not only missing out on potential profits — but you could be losing a lot of money in vacancy costs. And, of course, the longer the unit sits vacant, the more costly it becomes for you, the property owner. Fortunately, there are a number of simple yet effective ways to advertise your rental property and find the right tenant quickly.
Put Up Signs/Fliers for Your Rental
Never underestimate the power of a simple “for rent” sign placed directly in front of the property or in the front window. For rent signs can be especially effective if the property is located in a high-traffic area, such as along a busy road or in an area that receives plenty of foot traffic.
Use Social Media to Rent Your Property
Social media is an extremely effective marketing tool to advertise a property—when used correctly. If you don’t already have a social media presence for your rental properties, now is the time to establish one. From there, you can post listings of vacant units and encourage followers to “share” these listings on their own pages with their friends and other locals.
Place an Online Ad
There are plenty of online listing services specifically designed for rental properties. Advertise your rental property by creating listings on these sites. Be sure to include a detailed description of the unit and its amenities and post high-quality photos of the rental itself, both inside and out. This can be a great way to get a property rented in nearly any type of market.
Create a Local Listing in the Newspaper
Believe it or not, newspaper ads still work! Place an ad in your local newspaper’s classified section. Include the most important details such as the size of the unit, number of bedrooms/bathrooms, square footage, rental costs, utilities included, and other amenities. Be sure to share a contact number or website where interested parties can fill out a rental application. Many times, these newspaper listings are also shared on the newspaper’s website, which is an additional way to get the word out online.
Turn to a Property Manager
While all of these strategies can be extremely effective in helping you fill vacancies at your rental properties, they can also be laborious, time-consuming, and costly. All of this effort can take away from other important priorities in your life. It takes time to write a detailed listing, take quality photos of your rental property, schedule showing times, show the property, and more.
One of the smartest decisions you can make when trying to get your vacancy filled is turning to a property manager. A professional property manager will have the experience and resources needed to market your property and find quality tenants in as little time as possible. A property manager can provide other valuable services as well, such as screening tenants, collecting rent, and handling maintenance requests and repairs.
No rental property owner wants to deal with vacancies, but unfortunately they come with the territory. All of the above strategies can help you fill vacancies at your Tucson property, but your best bet is to work directly with a property manager for the best results — especially if you own multiple properties. Find out more about property management services by contacting our team at Bancroft & Associates today!