What are the best marketing platforms for self managed LTR

Raleigh, North Carolina
Marketing Your Property
3yFollow

What are the best marketing platforms for self managed LTR

Yogesh M sayanakar
Member since 2022 · 30 posts · 6 votes

Hi, I’m closing on a property in a few weeks, I have tried Facebook marketplace and groups with no luck in getting any qualified tenant requests. Apparently Zillow won’t let me post since the closing is still pending. Any other ways you recommend to market the property?

thanks,

Yogesh 

0Reply
62 views

Most Popular Reply

Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Yogesh M sayanakar:

1. You can't sell something you don't own. How are you going to show it to prospective renters? 

2. It's a couple weeks away. Most renters are looking for something they can occupy within 1-2 weeks.

I don't recommend marketing a property until you own it or  a couple days before closing. This allows you to set up showings right after closing.

The most popular marketing really is market dependent. In some markets a site like apartments.com is most popular, while others get a lot of activity from Zillow or Hotpads.

My recommendation is to try and find out which sites have the most activity in your market, then try to advertise on several of them to maximize exposure. I get most of my hits from Zillow and Zumper. I get a lot of activity on facebook marketplace, but the majority of them are unqualified tire-kickers that waste my time. Craigslist is a cesspool of fraud and I haven't marketed on there for nearly ten years.

The DIY Landlord Book4.7247 Reviews
WebsiteView Page
3Reply
See this reply in the discussion

15 Replies

Jump to latestLatest
  • Nathan A.
    New to Real Estate · Sunnyvale CA and Maplewood, NJ · Member since 2022 · 257 posts · 161 votes
    3y

    "The Book on Managing Rental Properties" by Heather and Brandon Turner suggests some ways to market units:
    * Yard signs
    * Flyers
    * Craigslist
    * The local newspaper
    * Zillow
    * Referrals

    2Reply
  • Jacob SloopBusiness Member
    Rental Property Investor · Virginia Beach, VA · Member since 2020 · 274 posts · 111 votes
    3y

    @Yogesh M sayanakar

    I use Zillow rental manager, they also advertise on the other sites affiliated with them, and have had great success with amount and quality of tenant leads

    [email protected]757-235-0369
    Jacob Sloop538 Reviews
    WebsiteView Page
    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @Yogesh M sayanakar:

    1. You can't sell something you don't own. How are you going to show it to prospective renters? 

    2. It's a couple weeks away. Most renters are looking for something they can occupy within 1-2 weeks.

    I don't recommend marketing a property until you own it or  a couple days before closing. This allows you to set up showings right after closing.

    The most popular marketing really is market dependent. In some markets a site like apartments.com is most popular, while others get a lot of activity from Zillow or Hotpads.

    My recommendation is to try and find out which sites have the most activity in your market, then try to advertise on several of them to maximize exposure. I get most of my hits from Zillow and Zumper. I get a lot of activity on facebook marketplace, but the majority of them are unqualified tire-kickers that waste my time. Craigslist is a cesspool of fraud and I haven't marketed on there for nearly ten years.

    The DIY Landlord Book4.7247 Reviews
    WebsiteView Page
    3Reply
  • Andrew FreedBusiness Member
    Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
    3y

    @Yogesh M sayanakar- I use facebook marketplace, zillow, apartments.com, and craiglist and I receive hundreds of inquiries for properties. To your point, 90% of inquiries are from unqualified tenants, however make it a point to prescreen. You could always develop a google form asking basic pre-screening questions to see if they would pass your rental criteria prior to showing the property. Lastly, make sure to never deny a tenant an application even if you know they won't pass your criteria. That can be interpreted as discriminatory. Good luck on your closing my friend! 

    [email protected]781-964-3200Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money
    2Reply
  • Cory J ThorntonBusiness Member
    Real Estate Agent · Raleigh, NC · Member since 2021 · 240 posts · 281 votes
    3y

    @Yogesh M sayanakar - 

    1) @Nathan Gesner hit the nail right on the head.  One thing you could potentially do as you move towards closing, is see if the listing agent will share the property photos with you (provided they are a professional quality), do your market research, and get everything ready to list as soon as the time is right. 

    2) There are some free versions of tools like Turbo Tenant that make listing on multiple sites very easy. 

    Best of luck as you head towards closing! 

    0Reply
  • Yogesh M sayanakar
    OP
    Member since 2022 · 30 posts · 6 votes
    3y
    Quote from @Andrew Freed:

    @Yogesh M sayanakar- I use facebook marketplace, zillow, apartments.com, and craiglist and I receive hundreds of inquiries for properties. To your point, 90% of inquiries are from unqualified tenants, however make it a point to prescreen. You could always develop a google form asking basic pre-screening questions to see if they would pass your rental criteria prior to showing the property. Lastly, make sure to never deny a tenant an application even if you know they won't pass your criteria. That can be interpreted as discriminatory. Good luck on your closing my friend! 


    0Reply
  • Yogesh M sayanakar
    OP
    Member since 2022 · 30 posts · 6 votes
    3y
    Quote from @Yogesh M sayanakar:
    Quote from @Andrew Freed:

    @Yogesh M sayanakar- I use facebook marketplace, zillow, apartments.com, and craiglist and I receive hundreds of inquiries for properties. To your point, 90% of inquiries are from unqualified tenants, however make it a point to prescreen. You could always develop a google form asking basic pre-screening questions to see if they would pass your rental criteria prior to showing the property. Lastly, make sure to never deny a tenant an application even if you know they won't pass your criteria. That can be interpreted as discriminatory. Good luck on your closing my friend! 

    Thanks a lot, great tips

    0Reply
  • Yogesh M sayanakar
    OP
    Member since 2022 · 30 posts · 6 votes
    3y
    Quote from @Cory J Thornton:

    @Yogesh M sayanakar - 

    1) @Nathan Gesner hit the nail right on the head.  One thing you could potentially do as you move towards closing, is see if the listing agent will share the property photos with you (provided they are a professional quality), do your market research, and get everything ready to list as soon as the time is right. 

    2) There are some free versions of tools like Turbo Tenant that make listing on multiple sites very easy. 

    Best of luck as you head towards closing! 

    Thanks a lot!!! Super helpful
    0Reply
  • Yogesh M sayanakar
    OP
    Member since 2022 · 30 posts · 6 votes
    3y
    Quote from @Nathan Gesner:
    Quote from @Yogesh M sayanakar:

    1. You can't sell something you don't own. How are you going to show it to prospective renters? 

    2. It's a couple weeks away. Most renters are looking for something they can occupy within 1-2 weeks.

    I don't recommend marketing a property until you own it or  a couple days before closing. This allows you to set up showings right after closing.

    The most popular marketing really is market dependent. In some markets a site like apartments.com is most popular, while others get a lot of activity from Zillow or Hotpads.

    My recommendation is to try and find out which sites have the most activity in your market, then try to advertise on several of them to maximize exposure. I get most of my hits from Zillow and Zumper. I get a lot of activity on facebook marketplace, but the majority of them are unqualified tire-kickers that waste my time. Craigslist is a cesspool of fraud and I haven't marketed on there for nearly ten years.

    Thank you so much, great information. 
    0Reply
  • Corby GoadeBusiness Member
    Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
    3y

    What is the vacancy rate in your market? How long have you been looking? What is the market rent for the unit you are advertising vs your price? Depending on that, coupled with your screening criteria, you might be within the realm of "normal" vacancy timelines. 

    We don't bother with FB or CL at all, total waste of time- tire kickers and people who can't pass screening. We get 95% of our tenants from Zillow advertisements, but the most effective platforms vary by market. 

    0Reply
  • Yogesh M sayanakar
    OP
    Member since 2022 · 30 posts · 6 votes
    3y
    Quote from @Corby Goade:

    What is the vacancy rate in your market? How long have you been looking? What is the market rent for the unit you are advertising vs your price? Depending on that, coupled with your screening criteria, you might be within the realm of "normal" vacancy timelines. 

    We don't bother with FB or CL at all, total waste of time- tire kickers and people who can't pass screening. We get 95% of our tenants from Zillow advertisements, but the most effective platforms vary by market. 

    Thank you, that’s most helpful 
    1Reply
  • John MorganPro Member
    Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
    3y

    @Yogesh M sayanakar

    I’ve used Zillow manager twice before the closing date. That way, when I got the keys at closing, I had tenants lined up to move in sight unseen or to look at it.

    0Reply
  • Rick BassettBusiness Member
    Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
    3y
    Quote from @Yogesh M sayanakar:

    Hi, I’m closing on a property in a few weeks, I have tried Facebook marketplace and groups with no luck in getting any qualified tenant requests. Apparently Zillow won’t let me post since the closing is still pending. Any other ways you recommend to market the property?

    thanks,

    Yogesh 

    Sign up for a service like TenantCloud (or one of a dozen others like it) and push the property  advertisement out to multiple rental websites through their syndication service.

    Remember that property closing dates are often not absolute; sometimes, they get moved substantially, so be careful about promising a rental for a firm move-in date to a tenant. I represented an investor a few years ago that did this and was (self)burned when his closing date was moved back by a week or two by his lender. He was pointing the finger and mad at everyone, but the source of all his problems was best found in his bathroom mirror.
    475-900-3100
    Bassett Property Management5108 Reviews
    WebsiteView Page
    1Reply
  • Sam YinPro Member
    Los Angeles, CA · Member since 2021 · 584 posts · 738 votes
    3y

    @Nathan Gesner Ditto.

    It's like the old saying... don't count your chickens before they hatch.

    Over eagerness, anxiety, and haste has gotten me more bad tenants than just taking my time. And even then, a few bad tenants slip through.

    In the past, I have used Apartmentm.com and it was amazing. But in the last 2 years, Zillow seems to be a better bet. However, your market will dictate which platform is best.

    1Reply
  • Denise Case
    Member since 2023 · 12 posts · 2 votes
    3y

    Has anyone tried Hemlane?  

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free