I am a fairly new investor and I am not getting leads for some of my rental properties. Any advice on advertising and getting properties leased? Thanks in advance!
Nancy - if you are not getting any leads do you think it is because of your asking rental rate? What are you currently doing to advertise your properties for rent?
Hi Nancy, What are you currently doing to get the property rented? What site are you on? How accessible is the property for showings?
Of course, I recommend online marketing with all the major websites. The listing photos should also be in an order that gives them a "tour" of the home. You may want to include/experiment with video tours of the homes. It can be shot on your phone and will help people get a mental image of how the property is laid out.
@Nancy Leatham couple of suggestions. First, Facebook marketplace is a great place to advertise rentals. You should get lots of responses, though this is a slower time of year for rentals.
Years ago, had a property manager that did the following when looking to rent a unit. If he thought he could get $800, he would place a listing at that price and monitor the number of inquiries he got on the property. If little to no response, he would keep dropping the price by $25 every few days until he started to get some good inquiries. That told him he was in the right price range to get it rented.
So I have them advertised on several different sites. I have it uploaded to rentlinx and turbo tenant and my property management software also offers advertising and I have it through there as well as craigslist. I will try facebook!
How would you guys approach not being able to show a unit because the tenant has it in such bad condition? (these are tenants that we inherited when we bought the place)
Showing a dirty unit: We have this issue sometimes too here in Madison WI. What I do - I email the Tenant advising them that the unit doesn't show well & request they clean it up. I continue conversation; Our goal between us is to lessen your inconvenience with entering your unit and remind Tenant that the sooner we rent the unit, the sooner you have no showings & the nicer the unit, the better chance of renting. Another option, if in your Lease is to schedule a housekeeping inspection and issue notice of violations.
Then I convey to people who come to view the unit - Please remember that you may view an occupied unit that hasn't had the best housekeepers. Advise potential Tenants what you do to make sure the unit is near perfect at move in. ** We professionally paint, clean or replace carpets and hire an outside maid service to clean the unit, & hire maintenance contractors to go through unit. Envision a beautifully like new unit at move in. Always works for me.