A landlord can have the best rental property, but if no one knows it is available, it will never get rented. That is where effective and comprehensive rental property marketing comes in. For landlords, the list of operating expenses is a long one. However, devoting the funds toward a rental Property Management Cape Coral FL property marketing budget and strategy is critical to your overall success. That said, how does a landlord know if they are budgeting their money, time, and effort effectively? A well-crafted and strategic marketing plan for your real estate investment is the best place to start. Continue reading as we delve into creating a budget, where to advertise, and how to get the greatest result for your dollar.

How to Budget for Rental Property Marketing
A vacancy is a scary word for any landlord. The remedy? Fill the vacancy with a quality tenant in the most efficient and cost-effective way possible. That said, there is no universal strategy that works for all. Instead, landlords must evaluate their local market and put together the best components to suit their needs. Each available advertising option will come with its own benefits, downsides, and potential fees. Let’s take a look at some of these rental property marketing outlets below.

Online Advertising
Word of Mouth
Local Bulletin Boards
Newspaper Classifieds
Real Estate Agent
Online Advertising

Statistics found that over 80% of potential renters find their next home online. Posting vacancy listings online is the most important step to take in rental property marketing. That said, posting online encompasses various sites that expose ads to a large pool of prospects for minimal effort. Online outlets such as Turbotenant, Craigslist, GoSection8, and Trulia even allow landlords to post their listings for free. Additionally, do not forget about using social media to reach even more potential renters.

Pro – Minimal Effort Required
Con – Tons of Competition
Exposure – Reaches a Wide Range of People
Cost – No Cost
Word of Mouth

Sometimes old-fashioned methods are just what landlords need to get a place rented quickly. Landlords can talk to friends, neighbors, relatives, and other tenants to get the word out. Chances are someone will know someone looking for a new place to rent.

Pro – Future Tenant is Referred by Someone the Landlord Trusts
Con – Potential Renter Pool is Small
Exposure – Limited
Cost – No Cost

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