Advertising rental property

If you are not having any luck advertising your property on real estate.com and similar websites, are there other efficient methods of marketing your property? (Other than gum tree)

 

With the big website organisations catering to the main stream, they are probably the most effective. Assuming the property in question is for the main stream market. If the property is in a niche market there may be specific advertising channels. Maybe it's an idea to look what can be improved to increase the appeal of the property rather than different advertising channels.

 

If you're not having luck finding a tenant, I'd lower the rent. Not much point in having an empty place.

 

Letter box drops, local paper, bulletin board in coles or Woolies.

Or conventional wisdom suggests drop the price.

 

Martein as a real estate professional I can vouch that real estate.com.au is becoming more and more inefficient and more and more expensive.

When I first began in real estate, over 10 years ago, a feature ad was only for difficult to move properties, now we almost can't lease or sell properties unless there is an additional payment to have them on page 1. For sales it could cost $2000 just to advertise a property on re.com and that is additional to the exhaustive fees agents pay for a subscription.

Once you pay the additional costs the listing is featured for a given time period, say 30 days then it drops back down again and becomes ineffective.

Agents are now relying on other things to get properties sold and leased. Generating our own databases gets a good result, logging buyer and tenant information then matching where we can.
Also social media, signboards, local advertising.

Getting an agent who is active in an area is also a good idea as often we can take people through multiple properties and use overflow from one property to fill another one in the same area. I find it easier working with 2-3 properties in an area rather than just one. Inspections are scheduled one after the other and we take the same tenants through all of them.

 

A friend told me to hand out flyers to people coming out of other home homes, suggesting they go see yours next weekend!

 

I agree with Xenia. My last vacancy we advertised on re with an OFI listed for the following Saturday, but Property Manager contacted people who had looked through other properties they had listed and re-let in 1 day.
Perfect tenant. He had not accepted the other listed properties as he wanted a house with gardening included, and was willing to pay $20 a week more.
Mine had the gardening included, as I had got sick of the tenants saying they would take care of the garden and only doing it when the inspection was due, so have included the gardening for the past 5 years. It also stops making the house look like a rental.

 

Great outcome, even better when the property is filled and has not even been advertised yet.

 

I used to hand out keys to multiple agents and first to find a suitable tenant I would give the management to. Generally after 6 months of no dramas we would give the agent notice and self manage from that point forward.

 

Thanks for the feedback everyone

 

Other than the above recommendations, you could try posting in Facebook Groups in the location of the property, such as the buy swap sell pages etc