One of the worst situations that a real estate investor can have is paying expenses on an empty unit, without receiving any incoming cash flow. So, getting the word out to potential tenants can be crucial for generating income from the rental property.
While there are a number of ways to advertise available rental property, some of the top methods include:
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Using Online and Offline Marketing Strategies
With so many people connected to the world wide web today, it makes sense to take advantage of online marketing techniques, such as listing your property on websites like Zillow and Craigslist. You might even consider setting up a separate website to market your vacancies. In any case, make sure that you include a variety of pictures of both the inside and outside of the home or unit. In addition, don’t rule out the good old fashioned yard sign, and even putting an ad in a local newspaper to in order to attract those who already live in the area and are in need of new housing.
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Asking Your Current Tenants and / or Neighbors
Even in today’s high tech environment, word of mouth marketing can still go a long way. So, to attract new tenants, you could inquire with your current tenants and / or neighbors to see if they know anyone who is interested in moving to the neighborhood.
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Delegating Your Rental Property Marketing to an Experienced Property Manager
Marketing and managing a rental property can be extremely time-consuming. But the time that it takes doesn’t have to be yours. By delegating tasks like advertising, rent collection, and maintenance to an experienced local property manager, you can ensure that your investment is being taken care of, while you focus on other things.
If you own rental real estate in Orlando and / or the surrounding Central Florida area, give us a call to learn more about how working with a top-notch property management team can work for you.