Good morning
Landlords dread the time when tenants leave and you have to find new tenants to replace them. With everything being online, it is easier than ever to advertise your rental property.
I recently had two units come vacant and I listed both properties through the Zillow rental manager. I have a template for my rental descriptions that I use and adjust per property. I took photos of both properties with my I-phone.
I was able to post both listings within 30 minutes. It was fairly simple and straightforward. It took a little over a week to rent out both of the units. Once you have your system in place, advertising your property online can be an easy process.
4 tips for advertising your rentals online
1.) Advertise effectively
Depending on your market, most tenants use online platforms to look for places to rent. There are a number of platforms that let you create a listing for your property & will share it with the biggest rent websites such as Zillow, Hotpads, and apartment.com. That way you create one listing, and it is shared on multiple websites. I personally have tried several but have had the most success with Tenant cloud and Zillow rental manager.
2.) Take well-lit photos
Photos are everything to a prospective tenant. You may think you need professional photos taken but honestly using your smartphone can provide photos that are just as good. Make sure to take pictures in the daytime and open blinds to utilize natural light. Take photos of both the interior as well as the exterior, including the yard and parking. On the inside, include photos of the bathroom and multiple angles of the living room and kitchen.
Zillow has a 3D option where you use their app and can create a 3D rendering of your property. It adds dimension to a listing and helps potential tenants get a good idea of the unit. This might be enough for someone to apply & put down a deposit without needing to schedule a tour.
3.) Choose the right price
Choosing the right rental amount is imperative to finding the right tenant. You want to be competitive with similar properties in the area, while also setting a high enough price to cover expenses and allow for some cash flow. You have to research your market to know what other properties are charging & also compare amenities.
I use rentometer.com as a starting point to determine the rent price. Then I look at other places for rent in the area to see if I should adjust up or down to be competitive.
4.) Rental listing with key details
You should provide a well-written description of your property that includes; the neighborhood it’s in, if it’s been remodeled or has new features, if it’s pet-friendly and any amenities that may be important to a tenant. I would also add when the unit is available to rent – something I’ve overlooked in the past and it can sometimes be a problem.
One last element to include, and probably the most important, is the tenant requirements. For example, I require 3x income, no criminal record, no evictions and we do not take section 8. All that is listed within the property description and I state that we do background and credit checks. This is very upfront and clear for any potential tenants. Also, I do not want people wasting their money on application fees if they will not qualify to live in the property.
*A quick note: make sure you know the landlord/tenant laws for your state. Each state has different laws and rules for landlords. All tenants though should be treated equally and fairly (you should not let one tenant do something another tenant is not allowed to do etc) no matter what state you are in.
In Conclusion
In summary, if you focus on providing great photos, a detailed description, and rent at the right price, you can find a good tenant in no time.
While listing and advertising your property is the easy part, the hard part is showing the property and choosing the right tenants. In my next newsletter, I’ll cover some tips and tricks to simplify this process and choose the best tenants possible.
All the best,
Mary
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Are you looking to get started in real estate?Have you wanted to own rental properties but you need to learn the basic steps to buying your first one?My FREE guide is a blueprint to get you started and on the right track to buying your first rental property. I describe, in detail, my 7-steps to landing a deal:1.) Know your why2.) Prepare your finances3.) Build your buying criteria4.) Learn to analyze deals5.) Choose the location6.) Secure Financing7.) Make OffersThe guide provides actionable steps and tips you can use to get started in real estate. It teaches you foundational knowledge from what types of properties to buy, how to run the numbers, and need-to-know real estate terms.If you educate & take action, you could have a rental property within 3 months!
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