You’ve finally done it. Instead of selling your old house, you’re going to rent it out. You’ve been reading about the hot rental market and want to get in on it, make a little money, and maybe turn it into a long-term option for a second income.
You’re dreaming of retirement and the extra cash, but first, you need to find a tenant. There are plenty of ways to market a rental, both old school and new. It’s important to add your rental to multiple outlets because you want to find the best possible tenant. Here are 14 ways you can do that.
- Clean the property from top to bottom. You may want to hire a cleaning crew.
- Decide if you’re going to stage the home with furniture – a popular and effective option many use for selling homes. Hire a professional stager or bring in furniture yourself and set it up to make the property look it’s best.
- Clean up the front yard, landscape, plant flowers, repaint shutters, and increase the general curb appeal. Consider hiring a landscape company to do this for you.
- Now that the property looks its absolute best, you need to take pictures of it. You’ll need dozens of pictures taken, and you’ll want to make sure you do it on a bright, sunny day. You can hire a professional photographer to do this for you.
- Record video while walking through the home. Video is very effective online. This allows people to get an idea of the layout and size.
- Buy an ad in the local paper(s) for your rental.
- Buy yard signs to put in the front yard and directional signs to point people to your rental from the main road.
- Add your rental to Craigslist. Be prepared for potential tenants to question you heavily – there are a lot of scammers on Craigslist.
- Add your rental to Zillow, Trulia, Hotpads, Rent.com, and other real estate websites. If you make changes to the price, amenities, or other features, you’ll need to update all of the websites you’re using.
- Hold an open house to let potential tenants come see the property.
- Talk about it with your friends, family, and business colleagues.
- Make flyers and distribute them at local businesses, churches, and other locations with community bulletin boards. You’ll want to remove them once the property is rented or you’ll be taking a lot of unnecessary calls.
- Post pictures and the listing information on Facebook, Twitter, and other social media sites you use.
- Create a website for the property and add all the pictures, video, and other property information.
- When it comes to marketing your rental property, you want to be in as many places as possible.
It’s a lot, isn’t it? There’s an easier way to get the job done. Work with a property management team who does this for a living. Here at ERA American Real Estate, we have the resources, the knowledge, and the time to effectively market your rental and find the best tenant.