Apartment Rental Tips

Can someone help me?? I have purchased my first rental, a condo and am wondering if some one can tell me what is the most effective way of advertising the rental ? confused

Comments(5)

  • joel17th November, 2003

    Look in the article section for Property Management. That should help you to start off with.

  • hibby7617th November, 2003

    The book "landlording" by Leigh Robinson has some great ideas.

    Identify your clientele. Where will they be looking? If you've got an upscale place in a nice neighborhood or by a university then you may want to look at online posts, university bulitin boards, and newspapers. If you're on the other side of town try a laundromat or grocery store. Put a directional sign at the closest busy intersection.

    Give other tenants or nearby neighbors a referal bonus of $50 or $100 for bringing you a qualified tenant.

    Over time you'll figure out what works in your neck of the woods. Good luck.

  • emayah17th November, 2003

    Thanks

  • BethE17th November, 2003

    You get what you pay for. If you advertize in the cheaper papers ( by cheaper I mean classy or not), you will attract those people. Find the type of person you prefer and advertise in those areas (ie - the doctor's lounge at a hospital vs a college campus). Recognize risk and charge accordingly: a bad credit report represents a higher risk so keep a higher deposit or write more strict nonpayment penalties into the contract as incentive for them to be prompt. Good luck.

  • Lufos17th November, 2003

    Congratulations the first of many.

    A Condo, I enter the building and I am now standing in the Lobby. I knock on the door which says Manager. (aka Residential Manager). "Hi," I say smiling from ear to ear."I am the new owner of Unit 060 and I would like to rent it for $1,000 a month and if you know anyone that is so inclined have him call me." Hand him a card, stop grinning ear to ear and give him the clincher. "Of course I will pay you $100 on signing of new lease." and leave.

    This simple procedure works for me.

    Minimum Effort Lucius

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