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Promoting my rental - need ideas

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  • cinfooya
    started a topic Promoting my rental - need ideas

    Promoting my rental - need ideas

    Tenant interest in my investment condo has slowed down. Any ideas of other places to post or ways to get in front of more interested renters? I just refreshed my listing on Craigslist and Facebook Marketplace. Also made a few edits to my Zillow Rental listing hoping to catch more people's eye. Any other helpful ideas?

  • bjl584
    replied
    Originally posted by disneysteve View Post
    How does the owner ensure the property is being well cared for? Will the lease include something about how often it needs to get done and what services need to occur (fertilizer, mulch, etc.)?

    Seems like it would be a whole lot easier for the owner to handle it and just work the cost into the rent.
    I've seen a few leases around here structured where the tenant is responsible for basic grass cutting. Basically to keep in compliance with local ordinances.
    More advanced services such as tree trimming and fertilizing will be handled and paid for by the landlord.

    Leave a comment:


  • BWatts
    replied
    Originally posted by cinfooya View Post
    Tenant interest in my investment condo has slowed down. Any ideas of other places to post or ways to get in front of more interested renters? I just refreshed my listing on Craigslist and Facebook Marketplace. Also made a few edits to my Zillow Rental listing hoping to catch more people's eye. Any other helpful ideas?
    Glad to hear you got it rented. I would focus more on websites aside from craigslist in the future; I think that site is fallen from grace for a lot of people. I know that here in Canada there's a bunch of rental websites like Strata in addition to craigslist type websites but I think Zillow is somewhat similar.

    Leave a comment:


  • TexasHusker
    replied
    For a bachelor, you could always toss in a move-in party with dancing girls.

    Leave a comment:


  • riverwed070707
    replied
    Originally posted by disneysteve View Post

    I've never rented a house but I wouldn't expect to be responsible for lawn care. Is that normal? I would think the owner would handle all of the routine outdoor maintenance.
    Pretty typical around here that if you rent a single family home, tenant is responsible for lawn and snow. Landlord knows its not being taken care of either by driving by or getting a letter from the city at which point you charge the tenant the cost of having someone take care of it unless they remedy within so many days. At my 4 plex, I give a $50 discount to one of my tenants who is willing to mow the grass. Never had trouble finding a volunteer and its a lot cheaper than professional care.

    Leave a comment:


  • TexasHusker
    replied
    Originally posted by disneysteve View Post
    How does the owner ensure the property is being well cared for? Will the lease include something about how often it needs to get done and what services need to occur (fertilizer, mulch, etc.)?

    Seems like it would be a whole lot easier for the owner to handle it and just work the cost into the rent.
    The lease usually says that the lawn/landscape must be properly maintained. Having a lawn in most Texas is the norm; most people know how to take care of one.

    Leave a comment:


  • disneysteve
    replied
    Originally posted by TexasHusker View Post

    All depends. If you rent a house in Texas, you would be responsible for lawn care.
    How does the owner ensure the property is being well cared for? Will the lease include something about how often it needs to get done and what services need to occur (fertilizer, mulch, etc.)?

    Seems like it would be a whole lot easier for the owner to handle it and just work the cost into the rent.

    Leave a comment:


  • TexasHusker
    replied
    Originally posted by disneysteve View Post

    I've never rented a house but I wouldn't expect to be responsible for lawn care. Is that normal? I would think the owner would handle all of the routine outdoor maintenance.
    All depends. If you rent a house in Texas, you would be responsible for lawn care. Different deal than a condo. We don't have a ton of condos in Texas - land is plentiful.

    Leave a comment:


  • disneysteve
    replied
    Originally posted by TexasHusker View Post
    When I had residential rentals, I was able to get slightly above market by offering free lawn care
    I've never rented a house but I wouldn't expect to be responsible for lawn care. Is that normal? I would think the owner would handle all of the routine outdoor maintenance.

    Leave a comment:


  • cinfooya
    replied
    Update: got a renter who signed a 12-month lease. I did end up lowering the price a bit and that brought in a lot more inquiries. Just an FYI, got absolutely no leads from Craigslist. Most of my leads came from Zillow and Apartments.com, the latter from which I found the qualified renter who is in there now.

    Leave a comment:


  • TexasHusker
    replied
    When I had residential rentals, I was able to get slightly above market by offering free lawn care and free cable. Those were biggies that people went wild over, but all I did was bump the rent to pay for the items. I got to deduct them as expenses, too, so I really came out ahead.

    Leave a comment:


  • disneysteve
    replied
    Originally posted by jiM_Mi View Post

    I would strongly suggest reducing the price of rent (is your monthly rent higher or lower than 1% of property value => example $200,000 house should rent for $2,000/month; $50,000 house should rent for $500/month).
    Don't forget location, location, location. It's easy to spout off the rule of thumb but more importantly is the going rates in the local area. If you're charging 2K/mo for that 200K house but everyone else is charging $1,750, that's your problem.

    Leave a comment:


  • jiM_Mi
    replied
    Originally posted by TexasHusker View Post

    Yes sir I'm all ears!
    I would strongly suggest reducing the price of rent (is your monthly rent higher or lower than 1% of property value => example $200,000 house should rent for $2,000/month; $50,000 house should rent for $500/month).
    I would also suggest reducing lease term in advertisements from 12 months to 6 months.

    Leave a comment:


  • TexasHusker
    replied
    Originally posted by jiM_Mi View Post

    If you cannot change the location, focus on the other two variables you can control. The Free market is talking to you, are you listening?
    Yes sir I'm all ears!

    Leave a comment:


  • jiM_Mi
    replied
    Originally posted by TexasHusker View Post

    Is the unit on wheels?
    If you cannot change the location, focus on the other two variables you can control. The Free market is talking to you, are you listening?

    Leave a comment:

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