Are you thinking about sharing your space as a rental? Renting out your property is a fantastic way to maximise your real estate investment. And the best part? It doesn't have to be complicated.
However, to reel in a diverse group of potential renters, you've got to get the word out correctly. It's all about connecting with the perfect tenants for your place, sharing what they're eager to know, and making it a breeze for them. After all, it's about finding that 'just right' tenant who'll cherish your property like theirs. In this article, we’ll guide you through the process of no agent property listings. So, let’s look at how to list your rental property without an agent!
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Key Considerations Before Listing Your Rental
Before you hit the 'list' button for your rental property, you must understand who your ideal renter is. In simpler terms, who's most likely to be drawn to your place, and what are their top priorities?
Let's be clear: discrimination is a no-go in your advertising. It's against fair housing laws, and that's a serious matter. For instance, phrases like 'married couples only,' 'no children,' or 'no wheelchairs' cross the line by discriminating against family and disability status. To play it safe and legal, HUD has a guide on fair housing advertising and marketing.
Many savvy landlords take a close look at their property and its surroundings. They create a mental image of their potential renter by considering factors like:
- Size and Number of Bedrooms: Families will likely be your top pick if your place boasts four or more bedrooms and sits in a family-friendly neighbourhood.
- Colleges and Universities: Properties near educational institutions often attract students searching for housing or academic staff looking for proximity to work.
- Employment Centers: Urban rentals may catch the eye of singles or young professionals, while homes near hospitals could appeal to medical workers.
- Neighbourhood Vibes: A neighbourhood's vibe can greatly influence the type of tenant it attracts, from affordable everyday areas to upscale havens for professionals.
Once you've got your tenant profile down, the next step is to think about what features and amenities your ideal renter likely desires:
- Families might appreciate childproof features and ample storage.
- Students may seek low-maintenance homes and fuss-free yards.
- Professionals might value nearby conveniences, nightlife options, pet-friendliness, and home-office suitability.
- In moderate neighbourhoods, affordability and safety often trump high-end extras like fancy countertops and stainless steel appliances.
No Agent Property Listings
Now, let’s have a look at the steps of listing your rental property without an agent.
Set the Right Rent for Your Property
Start by finding out what similar properties in your area are renting for. Create a list of rent comparables for homes close to yours regarding location and features. You can also understand market rents by consulting your property manager or using online rent comparison tools.
Now, landlords have different strategies when it comes to setting the rent. Some prefer to keep it a bit lower to ensure high occupancy rates, while others aim for top-dollar rental income. To make an informed decision, create a pro forma cash flow statement and calculate the potential return on investment (ROI). This way, you'll have a clearer picture of how your rental property's finances may perform with rent that's slightly below, slightly above, or right at the market rate.
Write an Eye-Catching Headline
When crafting your rental property's headline, keep it concise and informative. For example, if your ideal tenant is a young professional, your headline could look like this:
"$1,500 - Spacious 3 Bed / 2 Bath Home Near ('Landmark') with Bonus Home Office"
This headline provides a quick snapshot of your rental's key details: price, size, location, and a notable feature. The formula catches the eye and gives potential tenants the essentials.
Write a Persuasive Property Description
In your long term lets listing, your description should be succinct yet informative, including:
- Number of bedrooms and bathrooms
- Square footage of the home
- Neighbourhoods or key cross streets
- Move-in availability date
- Recent upgrades like new flooring or appliances
- Highlighted amenities such as ample natural light, smart home features, extra storage, or pet-friendly policies
- Rent amount and lease duration
- Security deposit amount
- Application fee details and a link to the tenant screening website
- Contact information for the landlord, leasing agent, or property management company.
This description gives potential tenants the essential details they need to consider your rental property.
Capture the Essence with Visuals
Visual appeal is crucial when your rental property marketing. Ensure your listing stands out with these photography and floorplan tips:
- Snap 8 to 10 high-quality photos showcasing both the interior and exterior.
- Include photos of every room and outdoor space, like a backyard patio or garage.
- Leverage natural sunlight by opening blinds and curtains for a bright, inviting atmosphere.
- Take photos at an angle to add depth and visual interest to your listing.
Efficient Online Applicant Screening
Opt for online tenant screening services that are landlord-friendly. These platforms often offer free access to landlords, with applicants paying an application fee. When selecting a tenant screening service, prioritise those that:
- Enable applicants to complete the rental application from their computer or smartphone conveniently.
- Guarantee a quick turnaround time (usually a few hours) to avoid delaying good tenants.
- Comply with relevant legal requirements, including the Fair Credit Reporting Act.
- Offer a comprehensive range of tenant screening reports covering criminal backgrounds, credit and employment histories, and rental history, including any prior evictions.
Effective Rental Property Listing Tips
While the rental property market remains robust nationwide, attracting the most qualified tenants can be competitive. To cast a wide net and connect with excellent prospective tenants quickly, consider these marketing tactics:
- Leverage your personal social media profiles and platforms like Facebook Marketplace for friends and family to share your listing.
- Encourage word-of-mouth advertising by contacting your network of vendors and service providers who may know individuals searching for rental properties.
- Create a free online rental listing using property management software or list your property on popular websites.
- Complement your online presence with offline advertising, utilising 'For Rent' yard signs or window signs and posting on bulletin boards in local supermarkets near the property.
List Your Rental Property with Houst
Listing your property on multiple booking sites for increased exposure and more bookings is made effortless with Houst's real-time integrated technology. Whether you want to list on Airbnb, Booking.com, Expedia, Vrbo, or others, their seamless system eliminates the risk of double bookings. With Houst's flexible lettings strategy, you can optimise your income, and their dedicated account managers provide data-driven guidance for short-term and mid-term listings. With Houst, you can access a range of services to manage your property. These include creating and managing Airbnb listings, professional Airbnb photography, communicating with guests, and easy check-in solutions.