Re: I Need Source to Advertise Rentals - Posted by John Corey
Posted by John Corey on May 21, 2006 at 11:29:30:
If you are advertising in the local papers and have received no calls your rent is too high.
Try craigslist if there is one for your area.
As to the cost of running an ad. If there is a major paper in the area that is where you need to advertise. Focus on the weekend. The cost is the cost and it is not too high compared to keeping the place vacant.
If you have a vacancy for 1 month that is the same as having dropped the rent by 1/12 more or less. Hence do not be resistant to reducing the price quickly to stop the vacancy. When there is a dominant paper in the area look up the rents for similar properties. I would take the price in the paper that feels to be about average for the same sort of property and reduce that number by $25 and place an ad.
Even consider calling the folks with places to rent and cut a deal to buy the contact details of people who called but did not rent (only pay for success or pay a tiny amount per lead).
BTW - My best results were always from a ‘For Rent’ sign in the home’s front window. There were no restrictions about signs for these properties. I just like using the front window. In all cases I was renting a SFR. Normal urban center residential so normal traffic patterns.