How to Advertise Your Rental Property
by Attorney Janet Portman
Use several advertising methods when you list your property for rent.
You can advertise your rental property in many different ways. The kind of advertising that will work best depends on a number of factors, including the characteristics of the particular property, its location, your budget, and whether you are in a hurry to rent. Many landlords and property managers choose a combination of the following advertising methods to get the best results.
"For Rent" Signs
The most common method of advertising involves putting a "For Rent" sign in front of the building or in one of the windows. This method works best when there's a lot of foot and car traffic past the building, and the building itself is at least as attractive as the rental unit. Why is this second factor important? If you've got a diamond in the rough, which neither the neighborhood or the exterior of the building does justice, you're better off using another method that won't mislead (or discourage) interested renters.
Newspaper Ads
Newspaper ads are as traditional as for rent signs, and now they're usually available online if the newspaper has an online version.
Many tenants will begin their search with the classified ads, and those who are from out of town will log on to the local paper from afar. Ads work best in papers that have many residential listings.
Try to target your ads to produce the pool of prospective tenants you want. For example, if you rent primarily to college students, your best bet is the campus newspaper or housing office. To be on the safe side, list also in a newspaper of general circulation -- you don't want to inadvertently invite a fair housing claim by, for example, advertising in a foreign-language newspaper but no other.
Neighborhood Flyers
If your neighborhood has public bulletin boards at grocery stores, laundromats or coffeehouses, consider posting an ad on one of these. Include tear-off strips with your phone number. Consider whether your rental will appeal to the people visiting these establishments -- if you've got a pricey property, you may not find many tenants doing their washing at the local laundromat -- though you might find takers at the high-end gym down the street.
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