Marketing Rentals
How much does marketing typically run for a single family rental home? I'm trying to put some numbers together to see if this is something I can realistically get into right now, but I really don't have any experience with this.
Do most people just run ads in the newspaper? How much do you typically spend per month per rental and what kind of marketing do you do?
Just looking for some ideas!
Thanks,
Scott
Obviously depends on the area. I have never had to run an ad, always used flyers at laundramats, grocery stores and a sign on the property.
For higher income/nicer areas, I imagine there would be a cost associated, newspaper being the smartest strategy but advertising at colleges might be good as well.
When you ask for marketing costs for a rental, do you mean "How much does it cost to find a tenant?"
Or
How much does it cost to sell a rental?
Sorry, I guess I should clarify. I'm looking for the costs for looking for a tenant to rent a single family home. I imagine newspaper ads would be the best way. I guess I'm looking for a number that I could realistically expect to use for "Marketing Expenses" in my financial calculations to determine the profit margin on a given rental.
Hi.
I call my competion and/or realtors I've dealt with and ask them where they would advertise.
I use newspapers almost all of the time.
Some of my areas I only need to run 1 ad. Others I need a good thur-sun run and maybe again.
Most important is to take the calls and qualify them on the phone, then pick and show.
cost under 100 bucks per vacancy ...