The quick and cheap way to advertize your rental property

As a landlord, it is vital to advertise your rental property in order to attract renters. Now, there are many ways to advertise such as newspapers, Internet and even word of mouth. I will discuss each medium in detail.

Newspaper:
Newspaper has got to be the oldest way to advertise. Whenever people read the news, they tend to flip to the classified ads as well to see what is available. So it might be a nice idea to attract renters this way.

However, to keep things short, newspapers are the absolute worse way to attract renters!

First, advertising in newspapers are too expensive. Generally, advertising in newspapers cost $30 for a weekend ad. It may or may not attract renters, but given the new world of speed and efficiency, you can advertise for a whole lot less, often times, free.

Secondly, the newspaper company that advertises your ad does not care about your ad. They are too focus on delivering interesting news. I once advertise on the newspaper just to see if it works. The newspaper company didn’t even get my phone number correct. Hence, even if people wanted to get a hold of me, they couldn’t! Now, this isn’t to say newspapers are not good source of advertisement for all marketers. Newspapers are just not good source of advertisement to attract renters.

Internet:
The Internet has got to be the most used medium for all ads and it does work well for renters, too!

First, advertising on the Internet is cheap, oftentimes free! Sites such as http://www.rentbin.ca offer free advertisement in addition to many other tools. Their source of income comes from sponsors and introducing other products. So the users never need to pay for cent.

Secondly, advertising on the Internet works. It works for renters because when renters need a new place to stay, they would actually look for sites specializing in posting Rental Ads.

Word of Mouth:
One of the challenges with advertising on the Internet is that you do not know what kind of renters you will get.

Word of mouth is a safe way to get reliable renters.

If may often take longer because word of mouth reaches such a small audience. One strategy you can use, is lower the rent for referrals because often times, the renters would require less validation.

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