Real Estate Investor · Brownsburg, IN · Member since 2012 · 31 posts · 9 votes
Just wondering how many do this? I see them in areas that I have houses but to me it seems kinda like putting a "steal my AC unit" sign in the yard! lol
FWIW, I have had to sort through much less chaff with the responses to my "For Rent" sign than through CL or Postlets. There's no question as to where the property is, what the neighborhood is like, etc. Like Andrea, though, I'm by the property often, and the neighbors are also alert to what's going on.
Good Question Jay Nalker . I cant answer it because I was just wondering the same thing. So I am curious to see what the response is . Using a property manager right now and she puts a sign in the yard. have not had problems yet.
Yes, I use them all the time, since the property is vacant..I ride by/stop in various times of day a few times a week. I open the door and walk thru to make sure no one is squatting or has broken into the property.
I do, but try not to. I have been successful in significantly reducing this type of advertising by utilizing other mediums more effectively. Craigslist is an excellent option as well as a dedicated website.
A dedicated website will take a little time and some understanding of SEO (Search Engine Optimization), but it's a great low cost way to communicate with current and prospective tenants.
I personally think "For Rent" signs are used more in less desirable locations/buildings. Be careful of the signal you send with a "For Rent" sign.
FWIW, I have had to sort through much less chaff with the responses to my "For Rent" sign than through CL or Postlets. There's no question as to where the property is, what the neighborhood is like, etc. Like Andrea, though, I'm by the property often, and the neighbors are also alert to what's going on.
I have had great success with for rent signs (in my limited experience with rental properties) but I also don't invest in places where I have to worry too much about the AC unit being stolen. And if that is what you are worried about I would say posting on CL would be just as dangerous...thieves know how to use the internet too.
I would think it depends on the neighborhood. I never used a "For Rent" sign because I try to bring people outside of the general area I have my properties. I do this because some of the properties I have are in between blue collar and "the entitle" class. So I try to bring more blue collar into the area. So far just using Craigslist and Postlets I have not had too much of an issue. Just make sure you have a game plan set for screening folks on the phone.
We use a hybrid approach and put up a For Rent/Open Sunday sign only for the day or two before we show the house... Most renters come from Craigslist but it does give us a chance to pull a few drive bys.
Ditto what Jay said... I never put the addie on Craigslist. I route them to my website and they can get it there for the same amount of time the sign is up or they can get it from me personally. Doesn't weed out all trouble makers but it goes a long way. Once my Open House is closed, the sign and the address both disappear.
If it were a bad neighborhood, probably not. But mine aren't in a bad neighborhood, so I not only put "for rent" signs on the vacant ones - I put "for rent" signs on my nearby OCCUPIED houses (after telling the tenant there that I'm not trying to get rid of them, just trying to get the phone ringing more for the vacancy around the corner or down the block). You'd be surprised at how many calls come from somebody seeing the sign on the occupied house but not seeing the sign on the vacant one. And sometimes I get the same tenant prospect calling multiple times within a few minutes :) - so you know they are really seriously looking for another place.
I only put them up the day of an open house now. I've found renters for a family member's properties and have found that the risk of leaving signs out isn't worth it.
I try to ask a few groups at a time how they heard about the property and also put it on the application. I used to get a chunk each showing saying they saw the sign, but they almost never put in an application. Those seem to be 90% people living nearby just wanting to look at the house for fun or people unsure on what my requirements are. Good for traffic, but if the area has some problems I do see the reward matching the risk.