Advertising for potential renters?

marvelousmarvinJune 7, 2007

Curious to know what would be good sources to use to reach potential renters that I have a condo to rent? Where do renters turn to these days when they want to find someplace to live? Its not one of those major rental complexes, but a personal condo that's being used for a rental. And, with the association rules, that's pretty much ruled out putting out any signs except one in the window. However, since the condo isn't near a major road, not a lot of people are going to see the for rent sign.

Do potential renters still use the Sunday newspapers? Its for Newport Beach in Orange County so would I want to advertise in the LA Times or the Orange County Register?

Or, is Craigslist sufficient? I don't understand how the papers can compete with that when Craigslist is free.

Any other sources or ideas?

Ideally, since the condo is near Hoag hospital and all those other medical buildings, the condo would especially appeal to people who work at Hoag. But, I'm not sure how I could reach those workers to let them know about a potential rental.

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I'm a landlord and just wanted to share what I found to be an oddity: Once had a home up for rent, I advertised in a local countywide paper, Sunday to Sunday, $85, I got two calls, both were just fishing. The home is on a more well traveled street so I put a sign out along with a box of "Take One" sheets. I got over 100 responses in a matter of days from doing it that way (and was refilling the box every few days)!

I have not used Craig's yet because it's more geared to the major city we live near and not our suburban area (yet). But I'd sure be willing to try it (much more exposure and free is always good). I have no clue why advertising in the local paper has perpetually proved to be fruitless, while putting a sign out garners so many calls my answering machine fills to capacity in the course of a day or two.

Oh, one more thing. The law of averages. It's been my experience that on average, on any given property (3 single family dwellings) if I have showings scheduled 50% will be no shows (typically with no courtesy calls that they won't/can't be there, they just don't show). Of the 50% I do show the property to, about half of them will submit a completed application to me that qualifies (the other half either doesn't return the app at all or poor credit rules them out). So I figure 1 out of 4 callers in the beginning is a serious contender in the end ;)

    Bookmark   June 7, 2007 at 8:51AM
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you might also think, "what sort of person would I like to rent to?"

--a graduate student, perhaps, who will be older and more responsible, and busy studying?

--a medical student?

--a flight attendant?

--a first-year school teacher?

Then try to get word to those people. Post flyers where they go, contact organizations that deal w/ them. Admissions offices, graduate-student offices, human resources offices, housing offices, principals' offices at local schools (now's a great time; teachers are renewing their contracts or signing on to join the faculty next year).

Call the Human Resources dept. at Hoag, and ask how to get word to their personnel. If you know anyone who WORKS at Hoag, ask them.

Maybe there's a bulletin board you can post on, or the person you know from Hoag can post it on.

Also alert everyone who lives in your condo, bcs they may know people who'd like to rent there.

    Bookmark   June 7, 2007 at 12:04PM
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Every hospital I've ever worked in has bulletin boards up in the halls advertising places for rent (and a lot of other things). If you can get permission from some admin. office to post there, do it.

    Bookmark   June 7, 2007 at 4:02PM
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What kind of tenants live in your condo bldg? Finding renters with a similar lifestyle will help keep a good tenant around.

I'd be in contact with those larger companies that use executive housing services. Health care, technology, aerospace?

Don't discount Craigslist. Its works very well where I live. And its FREE.

    Bookmark   June 8, 2007 at 7:29PM
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I own a rental in a smaller city. I have not had to look for a new tenant since I bought it. I have looked at the options for advertizing when the time comes plus a coworker just filled a vacancy at his rental. he used the local paper. a week long ad was around $40 with one sunday. he got about ten calls and one guy turned out to be a good prospect that he is now renting to. I mentioned craigslist to him and he was going to do it if the paper didn't get much response. when I have an opening coming I plan to list it on craigslist a few weeks before it will be open to move in to generate some intrest and maybe show it before the current renter moves out. I would love to get a new tenant with free advertizing but plan to place a sign on the house and a newspaper ad if needed.

    Bookmark   June 9, 2007 at 11:09AM
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Personaly I ALWAYS go on Craigslist to see what's available as far as rentals go. If you device to go that route please make sure you include a few pics of your property, both inside and out. I'm sure I'm not the only one who only clicks on ads with pictures on them.

    Bookmark   June 11, 2007 at 7:33PM
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Good advice socal...I love to hunt for antiques and after I discovered listpic I pretty much stick to skimming ads with photos and stoppped reading text only ads on CL.

    Bookmark   June 12, 2007 at 9:26AM
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