When we talk about marketing rental property, there are three different perspectives to consider. You can market as a landlord, a real estate agent or a property manager. What you need to remember is that a real estate agent can do all the marketing that a landlord can do and a property manager can do all the marketing a real estate agent can do. The difference is in the cost and the extra services provided.
Landlords, when doing their own marketing, will often go directly to Craigslist. It’s understandable; this is a very popular way to advertise rental property. This is a well known site, but the scams and the email phishing that has occurred make people a little less likely to go to Craigslist when they are looking for rentals. Also, depending on the amount of rent you are charging, the sheer volume of advertisements on Craigslist might mean that your listing does not get much attention. So, you can also put a sign in the yard of the property you are trying to rent or advertise in the newspaper. Our research shows that yard signs do not reach a lot of renters. And with a newspaper ad, you have to think about the return on your investment. You will have to pay good money for an ad, especially on a weekend, and the number of calls from potential renters is not that significant. You can advertise in other online sites, but again you will have to pay, and if you are not an agent or a property manager, you won’t get a volume discount, which means you will be paying more.
A real estate agent can do all those things. An agent can also list your property on the Multiple Listing Service – the MLS. This allows your agent to offer your rental property to other real estate agents. This is helpful and adds another layer of marketing for you, but it may not get the reach you desire. We have found that most renters don’t look for properties through a real estate agent. Instead, they look online.
A property manager can do all the things a landlord and real estate agent does, and more. We work full time on the properties we manage, and property managers are also local experts. Therefore, we have the ability to take a strategic look at the market and know what is effective and what isn’t. We use a lot of resources to advertise in targeted ways. For example, we can advertise your property on several different online websites and create a successful marketing campaign. We also get a volume discount, which means we can do more advertising for less money. We also have the capacity to take care of all the calls and emails that come in regarding your property. We respond to inquiries and set up showings during and after business hours.
If you have any questions about marketing or what a professional property management company can do for you, please contact us at Realty Services Property Management.