At the onset, once the property has been cleaned and made rentable, finding a suitable tenant is the next step. Most landlords opt to advertise in local daily newspapers, as it can be an effective way to attract potential renters if done correctly, but can be ineffective if done haphazardly. It’s a traditional way that people searching for a new home have utilized for years. However, the techniques we will discuss here can be applied to any classified ad, including online rental sites such as Craigslist.
We will explore ways to create an effective ad that will attract the right tenant for the property without violating fair housing laws. Additionally, we will look at how to deter problematic tenants from contacting you and how to utilize the ad as the first step in ensuring the selection of a responsible tenant, irrespective of their previous relationships with other landlords.
Advertising Marks the Beginning of Your Relationship with Your Tenant It’s important to remember that you are seeking a customer. For instance, if you were the owner of a sporting goods store and wanted to sell soccer balls, you would advertise the benefits of the balls you sell such as high quality, longer air retention, professional style or any other feature that would entice customers looking for soccer balls. You wouldn’t include a notice that there’s a $20 charge for returned checks in your ad. Regrettably, many landlords portray tenants as a necessary hassle when advertising rental properties. However, if you view your potential tenants as customers, it becomes easier to craft an ad. You are looking to attract a customer who will pay your mortgage, property taxes, and insurance and provide a profit.
Start building a business relationship with your prospective tenant by creating an ad that treats them as a customer. The rest of the landlord-tenant relationship will naturally become more professional.
Crafting Classified Ads Take a targeted approach when creating your ad. Your aim should not be to attract everyone looking to rent, as it will be a waste of time for both parties. The ad should do two things: first, it should inform people that the property is available, and second, it should provide information that will eliminate certain types of tenants.
Research shows that people perusing classified ads for rental properties typically circle an ad, and when they call, it is with the intention of eliminating that property from their list. By providing as much information as possible, you can help the applicant while also helping yourself. For instance, compare the following two ads:
Ad #1 2 bedroom, 1 bath duplex in good neighborhood. 1st and last plus dep., No pets. $600. 123-4567.
Ad #2 ½ Block to the Bus Cute and sharp 2 bedroom duplex on super quiet street. Large rooms, built-in dishwasher, gas heat, fenced back yard for kids. School close. $600. 1234 NE Main. 123-4567.
The first ad has five drawbacks:
- It is lost among all the other 2 bedroom ads.
- It attracts everyone seeking a two-bedroom duplex in the area covered by the ad.
- It provides information that does not differentiate it from the competition. In fact, it wastes words that tenants will inquire about anyway.
- It does not create a sense of urgency to call you first.
- It’s uninteresting. Even a classified ad should be engaging.
On the other hand, the second ad does seven things that improve its effectiveness:
- First, it stands out from most of the other ads in the paper, making it more noticeable.
- It’s an ad, not just a notice. An ad entices people to buy something by highlighting its benefits, whereas a notice simply conveys facts, such as the availability of a property.
- It uses a “fear of loss” benefit, such as a fenced backyard, which would make the children safer.
- It highlights features of the property that will make it more appealing, such as large rooms and a built-in dishwasher.
- It provides the address, allowing people to drive by and inspect the property’s exterior and neighborhood before calling. This increases the likelihood that they will keep their appointment to see the interior since they have already seen the outside and considered living there.
- It makes them want to see your property first, as it has advantages that they desire. Other rental units may have those features, but they don’t know that because the ad doesn’t mention them.
- It states that the property is open to families with children. Although fair housing laws prohibit discrimination, many landlords still discourage families with children. Mentioning children and schools in the ad implies that you welcome families with children.
Conclusion
In conclusion, writing a rental property ad that will attract the right tenant can be challenging. However, by viewing prospective tenants as customers and creating an ad that treats them as such, you can increase the likelihood of finding the right tenant. By targeting your approach and providing the necessary information, you can ensure that you receive calls from people genuinely interested in your property. Remember, your ad sets the tone for your relationship with your tenant, so make it count.
