Marketing Techniques for Rental Properties

Tenants use property management companies to locate rentals.

Renters search for prospective properties in different ways. Some renters study print and on-line publications for rental listings while others prefer working with apartment finders or property rental services. Property owners, landlords and property management firms must actively advertise rental listings in a variety of ways to attract prospective tenants.

Rental Magazines and Publications

Renters often search rental magazines and publications for available listings. Marketing available properties in rental publications allow landlords to reach prospective tenants within the immediate area of the property. Print publications are usually available for free. They are located at newspaper stands, local retail locations and rental communities. This marketing technique is ideal for landlords with multiple listings such as apartment complexes or real estate investors.

On-line Publications

On-line rental services are an effective way to market vacant rental properties. Many tenants use the Internet to search available properties because it is more convenient than driving around neighborhoods searching for available listings. Some on-line services are free while others allow landlords to list available properties for a specified period of time for a set price.

On-line rental services allow landlords to reach a wider demographic. They are able to market to local renters as well as regional or national renters without an increase in marketing costs.

Property Management Company

Soliciting the help of a property management company is a cost-effective and time-saving marketing technique for advertising rental properties. Landlords who do not want the responsibility of listing available properties or managing tenants utilize property management companies. Property managers are paid to handle advertising the rental property as well as screening tenants. After the property is rented, property management companies collect rent and handle tenant complaints.

Word of Mouth

Although the Internet has streamlined how tenants identify available rental properties, word of mouth is still a widely used marketing technique. Word of mouth is ideal for smaller landlords who want to avoid screening a large amount of tenants who respond to larger marketing efforts. Landlords market through word of mouth by telling friends, co-workers, neighbors and current tenants about property availability. Some landlords may offer a referral fee if a friend or co-worker refers a person that signs a lease. Placing a "for rent" sign in front of the property is also an effective way to advertise a rental property through word of mouth.

References

• Nolo Legal Information: Where Landlords Can Advertise Their Rental Property
• Find Law: Advertising Rental Property