The traditional method of announcing an available rental property, the “for rent” sign, has been supplemented or, in many cases, superseded by online listings and referrals. But do street-level “for rent” signs still have their place in the real estate marketing space? Regardless of advancements in the industry, street-level “for rent” signs remain a visual shout-out to passersby that a unit could be their next home. When given a choice of marketing methods, consider the pros and cons of using street-level “for rent” signs.
The Pros of Street-Level “For Rent” Signs
One of the most appealing aspects of using “for rent” signs is that they’re inexpensive. Compared to digital marketing campaigns that can rack up expenses, a simple sign is a cost-effective way to spread the word.
Then there’s the power of local referrals. Homeowners in the neighborhood have a personal stake in helping you find reliable tenants with good references. If they know someone trustworthy who is looking to move into the area, they may refer them to your property. A sign can spark conversations among neighbors, leading to referrals and new tenants who already have a connection to the community.
There’s also a good chance your sign will attract someone who already loves, or even lives in, the neighborhood. This means you’re more likely to land long-term tenants with a strong interest in staying in the community.
The Cons of Street-Level “For Rent” Signs
Street-level “for rent” signs have a few significant drawbacks, especially when dealing with unqualified leads. Without the filter of an upfront application process, you may spend a lot of time sifting through candidates whose credit histories or references disqualify them from renting your unit.
There’s also the risk of theft and vandalism. Unfortunately, “for rent” signs are a signal to potential intruders and squatters that the property is vacant. Plus, the sign itself is vulnerable to theft from people with a bone to pick about rental properties or unscrupulous potential tenants who want to give themselves an advantage in being the first to contact you.
Exploring Alternatives
There are other avenues that property owners, managers, and investors use that are as effective or more effective than physical streetside “for rent” signs. Consider these alternatives:
- Professional property owner website: Establish a digital presence where potential tenants can find detailed information about your property.
- Online listings: Reputable rental listing websites can widen your reach to a greater number of qualified applicants.
- Referrals from current tenants: Sometimes, your best advocates are those already living in your properties.
Atlanta-area property owners looking to maximize the chances of finding qualified, long-term tenants should consider leveraging an experienced Atlanta real estate management firm. Professional property management services can take care of everything from clean-outs and property maintenance to marketing your property and screening tenants, ensuring you find the perfect tenant match without the headaches of traditional methods.
The decision on how to advertise your rental property depends on your specific situation and goals. The pros and cons of street-level “for rent” signs should be a factor in creating your rental property marketing plan. While street-level “for rent” signs have their place, exploring all your options ensures you make the most informed choice for your investment.
