Got the House, now time to rent it!

11 Replies

Hey guys, 

Great news, I'm closing in on my second investment property this New Years Eve, great way to start the year right?

Now do you guys have any ideas or tips on what should I do to rent this out quick?

I'm managing this one by myself, but unlike my first investment property which had a tenant in already, this one is fresh out. 

I'm thinking about putting up pictures on craiglist and the local newspaper, any extra things I should do?

Thanks everyone,

Happy 2016!

Use Postlets.com. Its free and blasts it out to all kinds of sites. Also throw a for rent sign in the yard. 

Agree with @Ryan Dossey , use Postlets and copy the add over to Craigslist. 

If the rental is in a good area, put up a yard sign. If the area is prone to Section 8 housing and you dont take Section 8, the yard sign might be more of a waste of time.

Lots of pictures.  The more detail the better.  Might help avoid perspective tenants asking about the unit so much (even though some seem to not even bother and still ask questions that are clearly in the ad.)

You will get lots of calls and even more emails.  Don't expect everyone to show up for showings.  I let perspective tenants know when I am willing to show the apartment, usually letting multiple people know about the same time/date.  

Good luck.

@Ryan D.

Have you ever had problems with the For Rent signs attracting unwanted attention? Basically your sign is telling people that no one is home.

Thanks

To echo Mike Wood. I tell anyone who wants a showing that I will be there. But they HAVE to respond that they will be as well 30 minutes prior to the appointment. If they don't show text back... I don't show. They know this up front. 

^This way you don't get stood up.

Originally posted by @Brad A. :

@Ryan D.

Have you ever had problems with the For Rent signs attracting unwanted attention? Basically your sign is telling people that no one is home.

Thanks

 I leave a light or two on in the house. I haven't ever had any issues. I'd imagine you could run into the same thing with the address being online. You're not going to rent it without it. If you're that worried get a portable alarm system. 

@Ryan Dossey Right on.  If I only have one person scheduled, then I make them confirm just before.  So many people say they are coming, only to not show.  For my most recent unit, I had over 20 people express interest in seeing the unit, over 10 confirmed on the phone or email they would be there, and I had 6 people show.  And for me, that's a good turn out.

One time I had over 12 people confirm a showing (I was trying to show an occupied unit) and only 2 showed.  

So many people call and expect you to meet them right then and there. 

As for the rental sign question, this does not effect me, as all of my units are duplex houses, so it is super rare that I have both units vacant.  But I can totally tell the difference from people that call after seeing the sign and people that call after seeing an ad.  In my case, there is alot of section 8 rentals near most of my units, so the one's that call from seeing a sign are generally not going to be someone I can rent to.  The last unit I rented, i did not even put up a sign, just online ad's.

Congrats on starting the new year off in the right direction! I'd have to agree with everyone above, especially having a lot of pictures. Just a side note that you probably already know... Make sure to do some diligent tenant screening as well!

Thanks amigos, 

Yeah I will definitely put in lots of pictures, clean everything out and make it as presentable as possible. 

Also, for sure I'm putting everyone to see the house at the same time, this way I can build up some hype about it and I also do have a full time job, so there is no time to waste. 

The community is middle class range, so I don't plan on renting out to section 8.

I'll start with the online ads and wait for the response, if I don't get any within two weeks, I'll put up a sign. 

I'll keep you guys informed for sure. 

Thanks, 

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