Advertising

Today I picked up the completed tax forms from the accountant over my lunch hour which I'm logging as rental property work. If I didn't have rental units, I could probably do my own taxes with Turbo Tax or something similar. When glancing at the tax forms, I noticed only $188 for advertising which isn't bad considering I had 5 units go empty last year. It also costs about $100 for a 4 line ad in the news paper for just Saturday and Sunday. Our paper requires that you pay for 4 lines if you put a website in the ad. I haven't been using the local newspaper simply because it cost too much and people with pets call me even when the ad states "No Pets". There are very good free online websites for advertising rental property. I've also advertised in Craig's list. I get odd responses when advertising in Craig's list. The people that call me from the Craig's list ad usually want to pay a bunch of money up front, then have me pay some of their moving costs and other bills. I also like to advertise in the college newspaper because they publish 1 paper a week so my ad is working for a week. In the past, I've sent information about the vacancies to the housing authority which they share with their clients. This is free and generates all kinds of calls and is a good thing if your property is in their program. Look at my prior posts for more information about the housing authority. I've notice some people don't put much information in the ads about their rental units and want people to call to find out more. I would rather talk to a few people that are truly viable future tenants. I give the price, location, number of bedrooms, bathroom, website for exterior and interior pictures, rules regarding smoking and pets and amenities like washer dryer etc. My website has all the details about each place including things like average gas and electric bills, room sizes, application fees, the credit check requirement and much more. I want people to have a very good idea what my units look like before they call. I usually rent my places to the first or second caller. Where you advertise limits who calls. For example, only people that use computers will find the ads on the internet and mostly students will call when advertising in the college paper so actually the lower cost of the free internet and college paper exposes your ad to less people.

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