How to market a new home rental?

General Landlording & Rental Properties
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How to market a new home rental?

Parag D.
New to Real Estate · Member since 2019 · 51 posts · 12 votes

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

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
7y

@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.

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    7y

    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.

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  • Parag D.
    OP
    New to Real Estate · Member since 2019 · 51 posts · 12 votes
    7y
    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!

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    @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.

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    2Reply
  • Sam Horton
    Real Estate Agent · MA · Member since 2018 · 167 posts · 57 votes
    7y

    @Parag D. 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. 

    1Reply
  • Parag D.
    OP
    New to Real Estate · Member since 2019 · 51 posts · 12 votes
    7y
    Originally posted by @Nathan Gesner:

    @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.

     cool - thx @Nathan.

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  • Parag D.
    OP
    New to Real Estate · Member since 2019 · 51 posts · 12 votes
    7y
    Originally posted by @Sam Horton:

    @Parag D. 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).

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  • Sam Horton
    Real Estate Agent · MA · Member since 2018 · 167 posts · 57 votes
    7y

    @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. 

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  • Parag D.
    OP
    New to Real Estate · Member since 2019 · 51 posts · 12 votes
    7y
    Originally posted by @Sam Horton:

    @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. 

     @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.

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  • Sam Horton
    Real Estate Agent · MA · Member since 2018 · 167 posts · 57 votes
    7y

    @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.)  

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