Rental Property
Make the Most of Advertising Your Rental Property
By Buyincomeproperty.com
Oct 28, 2005, 11:52

There is generally a high demand for rental property. But the key to uniting those excellent renters with the rental property they seek is advertising. And finding the best advertising sources is vital.

Advertising your rental property may seem like no big feat. Make a quick stop by the local newspaper, turn in your information and pay the fee, then wait for the phone to start ringing. The only problem with that plan is that you’re going to have one ad among dozens – or even hundreds. What’s going to make your ad stand out so that your phone does start ringing? And are there other effective ways of advertising your rental property other than the newspaper ads?

There are lots of other options for advertising rental property, including lots of online rental sites. The key to choosing the most effective way to advertise is to place your ad in places that people look. You can put an ad on every light pole in your neighborhood advertising vacation rentals in Italy, but you won’t get any calls unless people in your neighborhood are scouring telephone poles for Italy vacation rentals. By the same token, don’t advertise your Michigan rental property in a publication dedicated to vacation rental property in Florida.

Websites are no doubt one option, but choose your sites carefully – even if you have the opportunity to advertise rental property for free. You’ll be judged (at least to a degree) by the company you keep. If you’re advertising your rental property in a publication that’s used mainly by slumlords and those with substandard rental property, you’ll be overlooked as a potential source for quality rental homes – even when you advertise elsewhere – if people begin to recognize your name and contact information.

Depending on where your rental property is located, you may need to look at some creative advertising options. Do you have property near a college campus that would be suitable for a student or a group of students? Advertise in the college newspaper and on the college radio station. If there’s a popular radio advertising program in your area (sometimes called a “swap shop” or “trade” program), you may have an instant (and free) advertising outlet. Be sure to ask about the rules of advertising ahead of time.

There are lots of free advertising newspapers around the country and those can sometimes be a good place to put rental property ads. Before you decide, take a look at how many others are using that source. There’s a rather delicate balance needed. If no landlords are offering rental property in that paper, few people in the market for a rental home are likely to look there. On the other hand, if there are hundreds of ads every week, you need to find a way to make your rental property advertisement stand out from the rest.

You may be able to pay extra to have your advertisement at the top of the column. Graphics and gimmicks may help, but simple wording is probably your best friend when it comes to your advertisement for rental property. The majority of people who are seriously looking for rental property are going to sit down with the newspaper prepared to read over the entire rental section.