How Do YOU Market SFH Rental?

Question

I am looking for new ways to market my SFH rental in Denver NC. I'd like to stay away from bandit signage. Does anyone have any helpful hints? I have it listed on 5 websites (free) with tracking numbers (that sometimes ring through to my phone). Fence was installed in December. TYIA!

Marcus Auerbach · Answer

Benchmark your competition. You can monitor them online, or even better do some mystery shopping. The luxury SF rental market segment is much smaller than the apartment market, but you need to know how long it takes on average.

You are either in a very staturated market or you are simply overpriced. I can tell you for Milwaukee, which is a very hot rental market. We typically fill leases for our SF in a week or two, even in the winter.

We know from data that between 6,000 and 10,000 leases get signed in Milwaukee every month.

Not all vacancies get filled, but the desireable ones certainly do. So, if the market decided to pass on my property while 10,000 leases got signed I know that either my listing was not nice enough or it was too expensive compared to my competition.

No amount of advertising will fix that.

It's a little bit like the joke about how fast do you have to run from a bear? Just a little faster than the other guy.

Alecia Loveless · Answer

@Lorien Rollins Where I live a lot of people with nicer SFHs are now listing them with Realtors to get them on the MLS and just eating the 1 mo fee as being cheaper than having it sit vacant for 3-4 months while they try to market it themselves.

Lucas Thomas · Answer

Yes!

It has a lot of users still.

And I meant Facebook Marketplace, they have a classifieds like section now that you can list rentals, sell mobile homes, etc.

Marcus R. · Answer

Recommend the usual suspects as others have mentioned above.  Some alternative methods to consider...

1) Dropping the price or creative move-in specials.  I know, it hurts.  But figure out what a day of vacancy costs and go from there.  Dropping your price by a few hundred is often more profitable than another few weeks of vacancy.

2) Play offense on FB marketplace.  There likely is a group for rentals/homes in your area.  Join that group and actively market your rental and reach out directly to folks looking.  Play matchmaker with people looking for individual rooms and connect them with one another so they can collectively rent together or rent by the room if you choose.  Ex: You'll see 2-3 posts from travel nurses in the area looking for a room to rent.

Theresa Holl · Answer

Ok - I have a friend in marketing who could help out getting you organized and automated. Happy to introduce you.

Glen Wiley · Answer

In my area zillow is the most powerful way for me to get applicants for my long term rentals. For every lead I get from the other 5 websites I get 20 from zillow.

Theresa Holl · Answer

Hi Lorien,

As a PM, is this an ongoing need or more of a one off?

Theresa Holl · Answer

That's interesting.  What kind of results are they seeing?

Lorien Wolff · Answer

Thank you! I have requested a quote from my realtor on their fee. I think I may go that route.

How Do YOU Market SFH Rental?

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