6 Tips for Listing Your Rental Property Online
LISTEN UP LANDLORDS, THIS ONE IS FOR YOU
Whether you’re a first-time landlord or a veteran, we all can use a refresher from time to time on how to successfully list our properties for rent. Today, I’m breaking down
Some of the most important steps in renting a property
Where you should be posting your rental
Tips to keep in mind when searching for tenants
These tidbits will help you cast a wider net on potential candidates and receive potentially higher returns. Say goodbye to discounted rental pricing and hello to qualified tenants.
1
PRICING
Everyone wants a good deal, renters included. So how you format your pricing can be very important. If you plan to ask for a pet deposit, have your tenant pay for parking, or any additional expenses, be sure to list the rental price separate. Similar to AirBnB’s approach, if you’re able to capture their attention with a competitive rent price and photos, the “add-on” fees are less likely to deter them away from moving forward.
Example:
$2,350 (everything included) or …
$2,150 + $50 for parking and tenant takes care of utilities
2
THE DETAILS
Be sure to add highlights of your home that would help attract potential renters. Provide details on room sizes, whether there is extra space for a home office, outdoor areas, parking details, utility breakdown and more. Additionally, if you’ve done any recent updates to your rental, shout it from the rooftops! People love learning they are the first to use a space, knowing that a rental transitions through tenants and gets worn down. If you’ve boughten new appliances or made cosmetic updates be sure to share that with your audience.
3
PROFESSIONAL PHOTOS
As a real estate professional, I understand that photos sell! Especially in today’s world where everything in the digital world we live in needs to be visually captivating. Your photos need to be top notch to catch your audiences attention and drive excitement + foot traffic. The more people you get interested in your property, the better tenant options you will have to choose from. Don’t skimp on photos.
4
WEBSITES
I know what you’re thinking…there are so many platforms to choose from. Which one is the best? By posting your rental listing on Zillow, it will also automatically post to Hotpads and Trulia. In addition, I always find the best traction from Craigslist, so be sure to leverage that one as well. If you have a good network of friends and family that are sure to refer your listing, you can always use your social media outlets such as Instagram and Facebook. I typically get some of my best renter options through my social network.
5
DEPOSITS + PETS
Different cities and counties have varying rules for rental deposits, so be sure you read up on your city and/or county website. They can often times restrict how much you are able to charge for a rental deposit, as well as pet price terms you may put in place.
A great example is… you may want to collect a pet damage deposit up front, to hold onto in case any damage is done by the pet during their lease. In addition, you might want to also charge a small monthly pet fee. Many cities, however, do not allow this and may ask landlords to choose one or the other.
6
APPLICATIONS/BACKGROUND CHECKS
Now this is probably the most important tip of all so listen up! A bad tenant can cause you a lot of restless nights. They can damage your property, not pay their rent on time and in full, or cause issues with other tenants in the building. Be sure to leverage a rental application and tenant screening tools to ensure any applicants have clean criminal records and strong credit. By using a tool such as Rental History Reports you’ll dodge a few bad eggs.
I also like to ask for 2-3 previous landlord references. This allows me to talk with their current and past landlords to get the “skinny” on how they are as tenants directly from the source.
What other questions do you have? Leave them in the comments below!
Jen
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