Updated: Dec 27, 2020
Many landlords want to get our newly turned over unit off the market as soon as possible. That’s where advertising your unit comes into play. Having a property manager is great and he or she will more than likely be advertising your unit on the major real estate platforms (Trulia, Zillow) and their website but you as the landlord can speed the process up and build more leads as well. Keep in mind this is a win-win for you and your property manager for you to advertise on your own as well. If you get a tenant paying rent, your property manager gets paid as well. So everyone is happy. Here are some ways to boost leads and speed up the new tenant search on top of what your property manager is doing. 1. Post your unit on Facebook Marketplace This method has created the most leads for me. I advertised my unit on all local yardsale and real estate groups in order to bring more traffic. This is all a numbers game. If all the groups you send your advertisement to has a total of 100,000 members then that’s 100k more people exposed to your unit on top of what your property manager is already doing. Once someone would ask if the apartment was still available and if they could have a showing I would forward them straight to my property manager. 2. Post flyers Again exposure is key. I used tabbed flyers with my property manager’s contact information on posted throughout the city. This is a bit old school, but I believe it to still be effective if posted in high traffic areas. I.e. barbershops, nail salons, bus stops and train stations. 3. Craigslist
Do not sleep on Craigslist. It has high traffic and a great response rate to your post. Remember to keep your post informative and professional. People’s first impression of the kind of landlord or property manager they are going to deal with will be based off of your advertisement. 4. Your job
You have a decent paying job and could afford the rent price you are advertising for your property right ? See if someone at your job is in search of new place let them know you have a place available. If it’s allowed by your job see if you can post a poster of your available unit in your employee rest area or lobby. 5. Section 8
Make your unit available to section 8 applicants. Call your city housing agency and have your unit advertised on their site. Do your research on what the max rent you can charge is and do not be misguided by the stereotype of all section 8 tenants are bad. Just like in life you have some people that mean well and some people who don’t. It is your responsibility to screen tenants properly with your property manager. The biggest pro is I’ve seen tenants pay as little as $30 of their rent while the government pays the remaining 90% of the rent. I challenge you to get out of your comfort zone and branch out. This will allow you and your business to be exposed to opportunities you didn’t know were available unless you advertised and reach out.
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