MARKETING YOUR PROPERTY:
Most importantly: price the property competitively. If tenants smell a deal, they'll flock to your door and you should be able to pick the best one.
Under-promise and over-deliver. Your rental property should shine in comparison to other properties that prospective tenants are considering. If your tenants think they're getting a great deal, they’ll stay.in the market in various venues:
- If it’s a multifamily property, talk to the other tenants about referring future tenants.
- Offer bonus to agents if they bring tenants.
- Offer a cash bonus if the departing tenants find you a new tenant.
- Use the Internet: Renters, like homebuyers, are going to the Internet to find homes to rent. Seldom will an Internet renter or buyer go to print media to look for information. We’d market your properties on sites such as Westside Rentals, Craigslist, etc.
Offer discounts to long-term renters. For example, give a month free for every two years of rent.
Offer two months free if they sign a three-year deal.
Distribute flyers to neighborhood businesses such as coffee houses, local markets, etc.
Post signage, especially if property is located in well-traveled location.
Hold Open Houses for prospective tenants.
