How to market a new home rental?

9 Replies

Hi folks - I am new to real estate investment. I am building a new home in a new subdivision. The home will be ready for occupancy by August 1st. What are the ways to market the home so that I can get a renter by August 1st? I have done the usual zillow, trulia - had a couple of leads but nothing concrete happened.

Appreciate your inputs/suggestion/advice.

Thanks in advance,

Parag

Beyond Zillow and Craigslist, FB market place has become the overwhelming best place to market your rental. I listed a rental 2 weeks ago and had about 60 people contact me via FB marketplace.

Originally posted by @John Underwood:

Beyond Zillow and Craigslist, FB market place has become the overwhelming best place to market your rental. I listed a rental 2 weeks ago and had about 60 people contact me via FB marketplace.

Thanks @John Underwood - will try that out!

Promotion
PPR Note Company
Note Investing
Diversify your portfolio and get completely passive cashflow.
All without tenants, repairs, or vacancies - in a real-estate-backed investment fund.
Here's how.

@Parag D. if you use Landlord software like TenantCloud, you can load your property and tell them to market it. They will push it out to dozens of web sites and expand your reach. There are many options available and many of them are free or extremely cheap.

As John said, facebook marketing is a great place for leads. Find your local groups for classifieds, real estate, or rentals and post free ads.

Originally posted by @Nathan G.:

@Parag Doshi if you use Landlord software like TenantCloud, you can load your property and tell them to market it. They will push it out to dozens of web sites and expand your reach. There are many options available and many of them are free or extremely cheap.

As John said, facebook marketing is a great place for leads. Find your local groups for classifieds, real estate, or rentals and post free ads.

 cool - thx @Nathan.

Originally posted by @Sam Horton:

@Parag Doshi if all else fails, I would look for the agent that does the most rentals in your market and hire them to rent it out. A good one could already have tenants for your property. 

 @sam - at an average, how much would an agent charge to market the rental? as they might have access to out of state relocating folks looking for rental (I assume).

@Parag D. Depends on your market. In Mass, Boston is usually full months rent paid by the incoming tenant so landlord isn't paying a fee at all. As you get further away from the city the "normal" fees change. You could always reach out to a few rental agents in your area and see what they are saying regarding fees. Then choose the one you like best. 

Originally posted by @Sam Horton:

@Parag Doshi Depends on your market. In Mass, Boston is usually full months rent paid by the incoming tenant so landlord isn't paying a fee at all. As you get further away from the city the "normal" fees change. You could always reach out to a few rental agents in your area and see what they are saying regarding fees. Then choose the one you like best. 

 @Sam Horton - I spoke to one agent and he said that they would take one month rent (from the landlord) for one year lease and two months rent for two year lease. Seems to be the other way round than what you mentioned. This is in Mason, OH - a suburb 20 miles north of Cincinnati, OH. So, its not that far from the city.

@Parag D. I would say 1 month for 1 year lease is common in the suburbs in my area. The trend of tenants paying fee is "relatively" new to my market (within the last few years, I've seen more and more of it.)