If you’re a landlord or a property manager, I’d like to know something. What is your vacancy rate, where do you advertise, and how much do you pay for that advertisement?
I’m interested to know for a few reasons. First, I have a hunch that newspaper advertising still works. But, second, I have another hunch that it’s really expensive compared to other forms.
My hunch is led from the fact that 75% of internet users are using the internet as their primary means of searching for data like rentals, classifieds, etc. And since 75% of the population (in the US) is using the internet, that means approximately 56% of the entire US uses the internet as their primary means of data gathering.
That’s not to say that newspapers aren’t helpful. Of course they are. We aren’t connected all day long (yet). But, it’s a trend that’s broken the tipping point and is quickly changing the rental advertisement and classified industries. All I have to whisper is “craigslist” and newspapers shudder. There are still areas that Craigslist doesn’t touch or doesn’t do well (rental housing being one of them), but overall, they’re killing the papers.
So, back to the question. What is your vacancy rate, where do you advertise, and how much do you pay for each type of advertisement? I’d love to know what methods are effective and what ones are not.
[tags]landlord, property manager, rental, apartment, house, home, duplex, advertising, rent[/tags]