Advertise Your Rental -- Don't Stop Until It Rents!

One of the biggest mistakes in judgement is pulling your ads too early.

Barring unique circumstances, there is one way to maximize the return on your property, and that's to fill space. It's hard to fill space without advertising. So if you've got an empty rental and you don't advertise your rental...well, we hope you fall into the 'unique circumstances' category.

Probably the most common mistake among landlords advertising vacant properties is that they stop. There's only one time to stop advertising a vacant property -- and even that is iffy.

Don't Stop Advertising Because You Have a Prospect
While it's a good idea from the broadest perspective to watch out for the customer's interests, keep in mind that the folks who can't move in aren't your customers -- you're not going to create any difficulties for yourself by telling them the property got taken by someone else.

Don't Stop Advertising Because You Have an Applicant
If you stop advertising while you're verifying the application and background checking the would-be tenant, and they fail the checks, you're going to start advertising all over again anyway -- so why stop in the first place?

Don't Stop Advertising Because You Have a Deposit
Royal Rose Properties had an applicant walk away from an eighteen hundred dollar deposit. Until you've collected the money for the first payment period, nothing is certain -- and as long as there's uncertainty about the fate of your vacancy, you should be advertising.

Don't Stop Advertising (Immediately) If You Have Other Vacancies
If you have other vacancies, keep advertising even if you just filled one. There's no need to put extra effort into cutting short an ad that's already scheduled to run for a week, for example -- let it go and redirect those callers to a similar property. Everyone wins!
  • October 13 2013 - US
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