Have a Good Marketing Plan
We have gathered some ideas to get you started on marketing your rental. Start off by looking at the location, size and the specific features of the property that make it unique. What are some of the benefits of the location? What amenities stand out from your unit, storage space, garage, laundry large backyard?
Have Great Curb Appeal
Look at your property from the view of the perspective of the tenant. Would you want to look inside? Make sure that your property is clean and well maintained from the outside.
Be Aware of Fair- Housing Laws
Research the housing laws in your area before you place an ad. It is important that you don’t inadvertently discriminate against anyone and violate any of the laws in your ads.
Selecting a tenant
The Tenant Protection Act does not have any rules which cover the selection of a tenant by a landlord, and the Tribunal cannot provide landlords with advice on this subject.
Some landlords require a prospective tenant to complete a rental application. Since the Tenant Protection Act does not have any rules about tenant selection, the Tribunal does not provide a rental application form, however, many other sources do. We have provided a number of forms on our resource page.
Methods of Advertising Your Rental
Word of Mouth: Let people know that you have a unit for rent. Tell your friends, family and co-workers because you never know who might be looking for a place to rent. You could also offer a referral fee for any successful occupancy. Tell your other tenants that you are offering a finders fee to anyone who refers a successful tenant- that will be paid upon deposit of the unit.
Property Signs: Signs are the most successful and least expensive way to advertise your rental. Put up a sign immediately when you find out that you will have an upcoming vacancy. Make sure that your signs are clear and easy to read. Make all signs two-sided and place them as close to the curb as possible for maximum visibility.
Newspapers: Most people looking for a rental take a peek at the classified section of the newspapers. It is a small investment to make if your property is going to sit vacant. Your ad should generate desire to see your property. In order to eliminate the chance of unqualified tenants calling you and wasting your time, include the price and the location of your property. Include the number of bedrooms and the number of bathrooms in the unit and any other amenities that stand out about your rental. If it is right beside a bus stop or near a grocery store you can include that. Use abbreviations to save yourself paying for a large advertisement for no reason. Use a/c for air conditioning, w/d for washer and dryer and use abbreviations for type of unit such as semi, or twnhs.
Other methods of advertising include, flyers, the internet, community bulletin boards and leasing agencies.