Advertising Your Rental Home For Rent in Coeur D’Alene
You have acquired your property, you have worked on the outside and inside to make it “rent ready” and you are now ready to put it in the market. We want to give you some good tips and tricks so that you can illustrate your rental in the best possible light. To do this, you will need to decide how much your rental property is going to rent for, as well as where and how you are going to advertise the home for rent, and how language and the right pictures will make you the most marketable.
How do you decide what the rent is for your rental property? One easy trick is to check Craigslist or other local listings for rental rates of comparable properties. Things to consider while looking at what is comparable is looking at the location, how many bedrooms, how many bathrooms, and what is the square footage and amenities. The classifieds sections of local news websites can also help. Checking with online vendors such as Rent Range may be an option, too. Remember that what you think your home is worth (what will cover the mortgage, etc.) most times is not the same as what the market will bear.
When determining security deposit amounts take into account your State Statute (if applicable) with regard to maximum amounts. In most cases states will limit your security deposit amount to charge for your rental property intended to cover damages from a renter. Determining market rental rates in Coeur d’Alene isn’t a large amount of time and should take about an hour of your time.
Once the market rent and security deposit amount have been determined, then you are ready to post the property for rent. Taking photos and/or video may seem like a great idea, but make sure you take the time to get the right shots. One thing to keep in mind when taking photos is that you are selling to a renter and shots should be accurate, bright and welcoming. When taking photos in the bathrooms, for instance, make sure the toilet seat is down and you are not a “ghost” in the mirror. If the room has a large window that brings in natural light, take the photo with your back to the window to capture the room filled with light. Remember, too, a bedroom is more than a window and a closet, so ensure that you get full pictures showing the entire bedroom. The photos you take should entice you or your family and friends to want to see more. Once you have the right shots, use an online editor see your photos on a larger screen and adjust brightness or contrast to best present your rental. Taking quality, well-lit photos and/or video and editing will take about four hours of your time.
Now that you have photos and/or video of the home, prepare an advertisement that speaks to the renter. Try to steer clear of writing in such a way that you are advertising “who” you want to live in the home instead of advertising the home and its amenities. The renter will be able to place themselves in the property best on your description of it not the other way around. List appliances and utilities that will be included, as well as restrictions and special neighborhood highlights. While Craigslist is still widely used for rental advertisements, look into paid advertisements in local sources and online if your home is not getting “hits” requesting a showing or application. Writing your advertisement and placing it online will take about one hour of your time. Paid advertisements range from $35 and up.
One final advertising to do is to place a for rent sign at the home that conforms with your neighborhoods standards. Although the majority of your “hits” will be from your online marketing, having a physical sign boasts your presence. If you are in a common interest community, for instance, there may be restrictions on the type and placement of signs. Some common interest communities may require a post sign, similar to those used by realtors. Obtaining and placing a for rent sign will take about one to two hours of your time. Many rental signs are inexpensive, but a post sign, can cost $75 and up.
With the right preparation, advertising your home for rent properly will pay off with the rental rate you wish to achieve in Coeur D’Alene, and even the possibility of a tenant that treats the home not like a rental, but truly a place to be proud of.
Real Property Management Coeur D’Alene is an established and award winning property managing professionals and handle all aspects of getting a home prepared to advertising, tenant vetting, and ongoing maintenance.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.