How To Advertise Rental Property

The goal of owning rental property is to make money. Many properties are real estate investments, and rent payments help landlords benefit. Advertising rental properties helps to attract quality tenants who can afford the rent. This marketing strategy helps property owners find the best renter for the rental unit.

This article explores different aspects of marketing your rental property and how to advertise for vacancies.

Running a real estate business can be overwhelming. Advertising vacancies, vetting renters, and managing tenant issues all require time, attention, and money. Many successful real estate investors get professional legal help with reviewing their ads for fair housing compliance, drafting solid lease agreements, and resolving disputes before they become costly. Find an attorney near you.

What To Include in Your Rental Listing

Your rental property advertisement should show off the best aspects of the rental unit. You should include information about the floor plan, plus:

• Number of bedrooms
• Number of bathrooms
• Unique features of the rental unit
• Floor plan
• Pet policy
• Rent price and security deposit (often one month’s rent)
• Contact information
• Date and time of open house, if any
• Tour options, including virtual tours

A rental listing should accurately reflect the current condition of the property. Include high-quality photos (professional photos are best) on every rental listing site. You can film a virtual tour of your rental unit and focus on upgrades to attract prospective tenants.

You probably only have 20-30 seconds to catch a potential tenant’s attention, so use that time wisely.

Anti-Discrimination Laws

Under the federal Fair Housing Act and local anti-discrimination laws, rental property listings and rental advertisements cannot discriminate based on protected characteristics. That means:

• Race
• Color
• Religion
• Sex
• Gender identity
• Sexual orientation
• Disability
• Familial status
• National origin

Property owners and real estate investors should avoid violating housing discrimination laws, which can cause reputational and financial harm.

Running a real estate investing business is more than just collecting rental income. You must follow fair housing rules, federal advertising rules, and, of course, landlord/tenant laws. A real estate attorney can help protect your business and maximize your investment. Find local legal help.

Use a ‘For Rent’ Sign

Using a “For Rent” sign in a property window or front yard is one of the best ways to advertise a rental unit in areas with heavy foot and automobile traffic. Because potential renters see the building as they pass, this method works best when the building’s exterior has excellent curb appeal.

Advertising Rental Property Online

Listing your rental online is a great way to reach a broad range of renters. Check local real estate sites and national listing websites to determine the best option for your rental property. These websites are also a good gauge of the local rental market.

These online listing websites include:

• Craigslist
• Apartments.com
• Zillow (using Zillow rental manager)
• Zumper
• Apartment List
• Facebook Marketplace
• Trulia
• Hotpads

The Zillow Group owns Zillow, Trulia, and Hotpads.

Place an Ad in the Newspaper

Local newspapers can now reach more quality tenants because of their online editions.

Use Social Media Platforms

Many rental property owners post about vacancies on Facebook and Nextdoor. This is a free way to advertise and a popular choice for real estate investors with limited properties, like a duplex or single-family home they’re renting out.

Make Neighborhood Flyers

The neighborhood surrounding the property is often one of the best places to advertise your property. Try a simple rental ad with the property owner’s phone number included on detachable tabs. Place it on a bulletin board in a grocery store or at a school to attract prospective tenants.

Word-of-Mouth

Word-of-mouth is often the best advertising. People tend to value recommendations from family and friends. Friends, neighbors, family members, and colleagues can spread the word to potential tenants.

A landlord can also tell current tenants about the vacancy and encourage them to tell friends, relatives, and co-workers. Most tenants would rather have a friend or acquaintance as a neighbor than a stranger. Offer a finder’s fee for a referral as an incentive, like a discount on one month’s rent.

Post Notices at Universities or in Corporate Housing Offices

Many universities and corporations keep lists of nearby available rentals. A landlord can usually list a property for free or for a small fee. Prospective renters employed by the corporation are suitable applicants since the employer has already performed screening and background checks.

Advertising High-End Rentals and Multiple Units

Not every advertising method is appropriate for all rental units. Higher-end rentals and landlords with multiple properties often use different advertising strategies. These strategies include:

• Advertise in rental magazines. A national rental magazine is a strong option for landlords with multiple residential properties. These listings usually contain advertisements for large rental units.

• Employ a property management company. A landlord can hire a company to handle all aspects of renting a property. That typically covers advertising, tenant screening, rental applications, security deposits, rent collection, and handling repairs.

• Employ a real estate agency. A landlord can pay a real estate agent — typically for 10% of the rent or one month’s rent — to advertise and show a property. If you prefer, the agent can also select the best tenant.

Get Legal Help With Your Rental Property

If you are preparing to advertise a rental property, consider speaking to an experienced real estate attorney. These attorneys are experts in real estate law and can give you sound legal advice on your advertising campaign. They can vet your advertising materials to ensure you are not violating housing discrimination laws.

FindLaw’s directory of real estate attorneys can get you started. Enter your city or ZIP code for a list of legal professionals in your area. Because both federal and state laws are relevant, your attorney should be licensed in the state where the property is. Your search results will also show important details about prospective attorneys, like ratings, areas of practice, and whether they offer free consultations.