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15 Comments on Does An Ad in the Newspaper Rent Houses?
That will be good information and I look forward to the follow up results.
Robert - I'm going to continue watching this blog, to see what results you come up with. I think many folks are still more newspaper ad oriented than we realize.
Am I seeing double double double? Did James Lyon really hit the submit button 14 times?
I suspect more tenants than home buyers are looking for homes in the newspaper. Especially since the entire real estate section of the Sacramento Bee seems to be devoted to rentals ever since all the major real estate companies stopped advertising. Plus, it's so easy to find homes to buy online and not so easy to find homes to rent.
Elizabeth: I thinks James burped! I was going to delete them but it made me laugh. We are noting that some tenants do not have computers! But, it is just as easy to find rentals online as it is to find houses to buy.
Yes, Elizabeth, you're right. My favorite sites like Trulia, still doesn't take rental listings. Restraint of trade, I call it!! LOL
We find most of our tenants from Craigs List and the rest come from the signs. We don't bother to spend money on newspaper advertising at all.
Robert,
We get alot of tenants from Hotpads.com and craigslist. I agree with Myrl though, I think alot of people still look at newspapers.
Robert-
Tenants come from Hot Pads on occasion and Craigslist 99% of the time in metro San Diego. In my experience, print ads usually draw in an older demographic.
Robert,
We get about half from our FMLS info (co-oping agents) and the other half from a variety of sources, such as sign (KISS), and internet.
What's awesome is we are now getting requests from tenants who found us from our AR listing and neighborhood posts!
We don't do any print advertising, as a huge majority of our executive lease tenants use the internet.
All the best, Michelle
We've cut back on the newspaper. I would love to cut it OUT, as they charge high rates, but in our area, I'm not sure its wise.
I find a get a lot my calls from an ad in the newspaper. I rent single family homes. 2 I own, and 2 I manage for a friend. Recently I have found I get a better quality tenant by just putting a sign in the yard with my phone number on it and a red arrow that reads 'For Rent'.
We manage over 100 units in the Chicagoland market (Northwest Indiana) and another 175 in the South Bend, IN market. Near Chicago we can advertise strictly on CL via Postlets.com. Postlets creates a very nice ad that automatically post to Hotpads, Yahoo, Google Base, and Facebook. We also advertise on Realrentals.com. Realrentals has recently changed their format and we are thinking about leaving them. We received leads from online only advertising throughout the holiday season. I have put ads in the paper one week since Nov 1, 2009. We have leased 14 units since Nov 1. We only advertise print when we need an extra push. The beginning of the month is a good time for us.
The South Bend properties do advertise in the newspaper and forrent magazine. They get some leads off the internet, but traditional works best in that market.
Newspaper ads will draw many callers.... but most of them that call only do NOT pan out because they have an image projected in their minds and lack the details shown from our online presences. We have found it to be a waste of money on the whole.
Thanks for asking the question Robert, and all of us here in Property Management look forward to hearing about the results of your study.
We should have something to share by the end of February.
We were spending roughly $3,000 every month on newspaper advertising here in Tampa. After a great deal of debate, we cut the cord on newspaper advertisement and haven't noticed any reduction in our business. The three primary things we do to get new tenants:
1. We decided to invest in our website and automated as much of our listings as possible.
2. Disciplined and regular posting of our properties on craigslist (Just like trying to 'time' the stock market, if you don't do it at regular pre-determined intervals you will not enjoy consistent results.)
3. NETWORKING! Of the 70+ leases we do each month, roughly 30% of our applicants are referred by friends or other real estate agents. Because we don't compete with sales agents, many of them will refer renters to us directly.
Personally, I don't think people these days care about words. They demand content. They want lots of photos and video so they can shop from home. If you don't change with the demands of today's customers, you are in danger of losing your market relevance.
Dave, I agree, you have to keep up. This includes checking and rechecking all avenues that might achieve results.