Getting ready to close on my first rental property and I'm trying to determine the best strategy for advertising the available unit.
Being in Utah, KSL is always the go-to for classified listings but I see that they're using a company called Rentler which is a landlord services company. Other than the advertisement I'm not sure I'm interested in anything else they provide.
Craigslist is an obvious alternative but I'm curious what other listing agencies or strategies folks have or are using successfully.
Postlets is a great way to advertise available rentals
In my town there are groups on facebook that are dedicated to homes for rent. This has worked well for us as an option in addition to cragislist. Hope that helps!
postlets sends the listing out to a lot of places like trulia, zillow, and like 5 other sites. Most of my actual renters have come from trulia or zillow.
I tried the Facebook site "your town" houses for sale rent. Everyone from there was unqualified and had issues.
I also tried craigslist and got some very unqualified people. I think if they see your listing there, they think you are desperate....and so are they.
BUT a lot depends on your area and what kind of rental you have.
Try them all, just stick to your requirements.
I only advertise by word of mouth or craigslist and I get tons of calls from my craigslist ads. My tenants are usually between the ages of 24 to 36. It's a hip area.
Postlets is my number one site for adverts. CL hasn't given me any quality applicants nor has FB. It really depends on the unit you are trying to rent, though. I don't have multiplex units to rent so maybe I would have more success with those channels if I did.
your objective is to get your place rented as quickly as possible. That means you need to put your marketing (in this case your for rent post) in front of the greatest number of your target audience (potential renters). In Utah that means advertising your rental on KSL and Craigslist.
Some other ideas to add to your marketing mix.
Placing for rents signs on the high traffic roads close to the property in addition to the front yard of the property.
Advertising on Zillow and Trulia. Great way to get in front of people relocating to Utah from out of state as well as locals.
Putting up flyers in laundrymats, major employers in the area (example Weber State), hospitals.
word of mouth/social media - letting everyone in your sphere of influence (family, friends, neighbors) know the place is for rent. Maybe they know someone who would be interested in renting your property.
Letting the neighbors on the street know the property is for rent. They may know people who are looking for a place...kinda like letting them pick their neighbor.
Use 2 or 3 three strategies you can execute well and effectively. Keep track of everything you're doing as well as related expenses to learn from next time you list the property.
Here's what we've found:
KSL, Craigslist, and a sign in the yard are all you need. Print media like newspaper classifieds tend to attract a lower class of tenant. By advertising online only, you are sort of pre-screening.
Spend a few extra bucks to have a professional sign. This also weeds out the riff-raff. Do something custom online instead of grabbing a generic for rent sign at a home improvement store.
Almost all locals are familiar with KSL. Rentler is free but has some fee based built-in tenant screening tools as well.
Screen! Screen! Screen! One month of vacancy is always better than a bad tenant. Check out the Bigger Pockets Guide to Screening. We use SmartMove and have found it pretty user friendly. Make the tenants pay for it.
Also, because out of towners are not familiar with KSL, Craigslist is important. We get fewer responses from Craiglist, but it can attract a higher quality of tenant who is relocating to Utah. Think grad students and people coming here for employment.
If you have too much energy, you could also post at Weber State on their classified boards or even go to individual departments and talk to the secretaries about posting boards there--particularly ones with grad programs.
Finally, make sure you take great pictures and a video of the property prior to renting it. Even consider staging it. You can use this to market it next time around without bothering the outgoing tenants as much.
I operate in your market, and have had great success with just a sign, but I also list on ksl and craigslist. if its in great condition, it will rent fast.
Like others have mentioned using postlets.com if beneficial. You can also copy and past the HTML code from postlets into Craigslist to make it look nice and professional
I have to chime in with most of the others on "CRAIGSLIST" But there are a lot of SCAMS that slip through the cracks so be very careful how you word your adds.
Why don't you let a property management deal with that? That's what they do. As an investor, you would want to maybe spend your time buying more rentals.
I only advertise on KSL and have those interest fill out the application on there. It makes sure I cover my bases with each potential tenant. I agree with getting great pictures. Last time around instead of the front of the house I posted the awesome backyard with grill, fireplace and counter. I got tons of calls and a great renter.
Through my experience, I have found majority of my tenants via Postlets and Craigslist
As you mentioned, KSL.com has partnered with Rentler.com for their properties for rent section. I use them a lot and I love their background and credit screening option for $25 per applicant. I have my would-be tenants pay for the screening and I offer to deduct that amount from the first month's rent. Also, they have a $8 per month service where they collect rent by bank ACH and deposit in your account. Awesome!
Even if i have people find my ad on Craigslist or Facebook I will always send them a link to my Rentler ad so I can screen them and set them up for payments there.
Hope that helps.
Thanks everyone for your input. I'll be giving Postlets a serious look as well as some of the other ideas regarding signs and flyers.
Rentler.com and Craigslist work the best for me in the area.
Property pond also has a place to list rentals and the mls also offers rentals as well. Rentler is what we use, and we have always had great luck with it, but if you are looking to cast a wider net there are a few other places for you to check out. Also I don't know if you use Cozy as a landlord, but it is an awesome resource for landlords! They are free for landlords and the site is very user friendly, it offers a very simple way to do background and credit checks for landlords! You can just google cozy landlords and should be able to find it! Good luck!!
I use TenantCloud to post automatically to postings to Postlets, because it provides a link to the application and it lists to all the RentPath websites. I would have to agree with Mike Gallagher that the best marketing is a rental sign.
Thought I should follow-up with what I ended up doing.
I decided to use Cozy.co as my payment processor/property management front end. Through them I was able to post ads to Realtor.com and Doorsteps. I also posted an ad on KSL.com manually. I never got to the point of putting out a physical sign because I found a suitable tenant within a week of posting the ads.
I ended up getting a number of inquiries pretty quickly but I'm not sure where they found the ad since they all emailed directly.
Thanks for everyone's input. I was incredibly concerned about finding tenant after reading all the horror stories but at least in my case it was an incredibly smooth/fast process.
Because I am in the Salt Lake area I use Rentler for my listings. Rentler is connected to KSL and most people use KSL in this are for most everything. They have some services that you can used for an additional charge, but the great think is you can have multiple listing for free. Last time I listed I think I could list 3 properties at once. For this area it it all I have used.
we only use craigslist..its free and we generally have multiple calls within the first week. never had an issue with finding renters