How to Advertise Rental Property

A rental property can be a significant income boost. In 2022, renters were nearly 36% of all heads of household in the U.S., a rebound from the COVID-19 era. How does a budding property manager find a suitable market for their rental vacancies?

The answer is simple and time-proven: advertising. But today, that entails much more than a classified ad, a bulletin board post or a “For Rent” sign in the window. Let’s look at how to advertise rental property in the 21st century.

Importance of Advertising Rental Properties

Advertising your rental listing is crucial because it lets the outside world know it’s there. Without it, owners face an uphill battle to find a market of prospective renters.

Advertising a rental is more than just an awareness generator. It allows the owner to showcase every way their property stands out among others. In conjunction with real estate listing sites like Zillow, digital ads give rental seekers ways to compare different rental properties.

Online advertising broadens a rental property’s audience to phones, tablets, laptops and desktops. With this versatility, it’s easier to provide compelling images and virtual tours. 

Top Ways to Advertise Rental Properties

When learning how to advertise rental property, it’s important to take a series of specific steps.

Researching and Understanding the Rental Market

Knowing the local rental market is fundamental. It frames your advertising decisions and gives you insight into how to attract tenants.

Visit real estate sites like Zillow to view comparable listings in your target area. More informally, you can look up rental advertisements on general sites like Craigslist or Nextdoor.

If you have a friend or family member who’s in local residential real estate, it’s worth asking for their expertise. You can also attend local rental open houses to nudge yourself into a network. 

Setting an Appropriate Rental Price

The market research you’ve just completed will help you determine the right rental price for your property. Use this data, along with details about your rental property, to arrive at a fair monthly rental rate. Some of the most pertinent property factors to evaluate include:

• Location
• Square footage
• Condition
• Renovations and upgrades
• Amenities 
• Utility usage and costs
• Prices of comparable properties

It’s critical to set a price that’s competitive with other rental units without being too high or low. You want to make your rental affordable to qualified tenants, but you also need to cover maintenance and administrative expenses.

Capturing High-Quality Photos and Videos

Prospective tenants like to see the features and characteristics of the unit they’re interested in rather than just hear or read about them. High-quality visual media simplifies the owner’s job. Today, it’s easier than ever for owners to make professional-level videos and photos.

Emulate a photographer or videographer as much as possible. Here are some tips:

• Adjust shooting angles and lighting so it looks good on screen, and preview it on your smartphone camera to make sure. 
• Pay attention to staging big items like furniture so they’re attractively framed.
• Declutter all the areas you’re shooting, and be mindful of what accessories you’ll show on screen.
• Emphasize neutral colors whenever possible, accentuating them with pops of more vivid color.

You could also learn how to use your camera’s features to perfect your shot. There may be some functions and filters that you rarely use.

Compelling Property Description

Sites like Zillow rely on accurate and engaging text to accompany their imagery, and site visitors look for it. An effective property description explains why your property is unique and desirable.

It’s best to be as specific as possible in describing your property. Instead of phrases like “a nice backyard deck,” use more exact language like “an all-cedar deck with an ocean view.”

Include information about property and area amenities. Write about the home’s location, public transit access, local schools and nearby shopping, services and attractions. Craft your write-up for a general audience.

Using Online Advertising Platforms and Websites

Future renters visit Zillow, Craigslist, Airbnb, Apartments.com and other sites to search for properties. Along with writing compelling descriptions, think about how to attract user attention. A strong headline goes a long way in driving page visits.

These sites also have additional tools beyond text and imagery that help owners manage their property listings. For example, Zillow offers help in tenant screening, estimating fair rental prices and 3D virtual tours. Some features may only be for premium members, but they may be worth it.

Leveraging Social Media for Property Promotion

Social platforms like Facebook, Instagram, Trulia, LinkedIn and Threads have changed how advertisements work. User interaction is the focus of these sites, broadening your marketing potential and opportunities.

Here are some tips for advertising your rental property on social media:

• Use imagery wisely: Pick out a few of the most compelling images of your property.
• Master the hashtag: Make a list of general and specific keywords for hashtags. Use services like Google Search and Inflact to generate hashtags and check competitors' hashtags.
• Respond to inquiries: Take time to address sincere questions and comments users may leave on your post. This practice can build your online reputation and generate unexpected interest.
• Consider buying a social media ad: Paid advertisements can target renters in a specific area or those looking for certain properties.

Printed Marketing Materials and Local Advertising

Traditional printed media is an essential tool in real estate. Brochures, posters and flyers can impact the real-world community. Content needs to be succinct, so combine high-quality images and bullet-listed features with brief explanatory text.

Look into advertising opportunities, such as placing an ad in a local publication, buying a trade magazine ad or finding space for a flyer on a community billboard. Consider having your advertisements professionally printed.

Networking and Word-of-Mouth Referrals

There’s no substitute for human connection. Look for opportunities to connect with local real estate professionals, landlords and property managers. If you’re stuck, start by leveraging friends or family who may be in the business. Be on the lookout for industry conventions and trade shows.

Get word-of-mouth momentum going by interacting with the community. Going to local events, attending public gatherings and volunteering are effective ways to generate interest.

Analyzing Advertising Strategies’ Effectiveness

Ad campaigns are meaningless if you don’t measure their success. Understanding qualitative results is necessary to fine-tune your marketing strategy.

For digital ads, online tools like Google Analytics and Facebook Ad Manager show you stats like number of inquiries, click-through rate, conversion rate, cost per click and return on investment. Make sure you monitor all this data from the start of your campaign at regular intervals and make adjustments accordingly.

Traditional media ads and word-of-mouth referrals are harder to track, but it’s possible. Keep track of the inquiries and requests you receive for your rental ad. If you worked directly with a media outlet, its advertising and marketing units may have important info on response rates and generated leads. 

Finally, don’t forget to monitor the results of open houses, showings and lease signings. The feedback you get from prospective and accepted renters is valuable in building your business approach.

The Rental Ad Adventure

Learning how to advertise rental property has never been easier. With a strong online campaign and more traditional ad options, you’ll attract qualified tenants and build reputational capital. 

Frequently Asked Questions