Tuesday, February 22, 2011

Advertising Property on Behalf of the Landlord

Effectively advertising a client’s property for rent requires careful thought and evaluation. For example, since the very purpose of advertising a rental property is to attract new tenants, the advertising method or methods selected should be custom tailed, so to speak, toward the particular kind of tenants you want to attract.

Online sources, such as Multiple Listing Services, Craigslist, online property showcasing such as virtual tours, etc., word of mouth referrals, networking with various Realtors, open house, newspaper ads, signs, flyers and bulletins, have all been time proven and effective methods of advertising, but each type of advertising may only be effective under a particular set of circumstances.

For example, renters looking for student housing younger working people searching for an apartment, or families looking for a suitable townhome or single-family residence are more likely to use the Internet as a primary search source, as opposed to many older people, who may be more comfortable with newspaper ads, or asking the advice of a realtor.

Flyers with brief property descriptions placed in supermarkets, bookstores and other high traffic areas, can be of some use as well, but that is indiscriminate advertising and may attract prospective renters that might not find the advertised property suitable for their needs.

Better to customize the advertising to particularly feature amenities most likely to attract the tenant suitable for the premises. Workout rooms, swimming pools, and spacious floor plans generally attract younger tenants, whereas security features, quiet neighborhoods and proximity to shopping appeal to older groups.

Dependent upon the type of housing, every prospective tenant would find one or more of the following features and amenities attractive:

High grade energy-efficient appliances
Washer/dryer facilities in apartment
Granite counter tops
Marble topped vanities
Large high-ceiling rooms
Workout rooms
City, mountain, ocean or golf course views
Concierge service
Secured parking
State-of-the-art security systems
Retails shops, restaurant on premises

Single-Family Homes
High grade energy-efficient appliances
Granite counter tops
Marble topped vanities
Spacious grounds
Attractive landscaping
Family room or den

In addition to the above, property location is equally important to most renters and such conveniences as proximity to shopping, entertainment, public/private schools, universities, business districts and public transportation should certainly be featured.

It should be a given that the basics, such as number of bedrooms/baths, monthly rent and pet or no pet policies be a primary feature of the advertising promotional information. The prospective tenant can be informed of other pertinent points of information such as required security deposit, move in/move out policies, leasing terms such as length of lease, lease restrictions, etc. by phone or at a face-to-face meeting.