Hi all, what techniques have worked best for you in finding suitable tenant buyers? I have put an ad in the paper with a 24 hr rec. message call back number. After 2 days i have 5 calls so far. Am thinking of signs around neighborhood. Any advice is appreciated.
No need to reinvent the wheel. Marketing is key. Newspapers, online ads, a sign on the property as well as signs about the neighborhood, flyers in nearby apartment complexes, word of mouth, etc.
I’d have to opine that it depends on your geographic area. Here in central TX, I get 30 responses from a one-time (one day) ad. The reason I use “Rent-to-Own” is that I get a better quality tenant than from a straight “for rent” ad. Seldom to the folks exercise their option to purchase.
Check your add, offering a generous rent credit can really boost your ad response. Of course you’ll need enough spread for this to work. a 50% rent credit should have your phone ringing off the hook.
G.L.
I’ve just started (yesterday) to advertise for lease option/ rent to own buyers. I put out 6 signs in 3 different cities and got 8 calls today from the signs. These signs were NOT fancy at all. They were homemade on posterboard that I bought at Target. The signs said:
RENT TO OWN
YOU CAN
MOVE IN
TODAY !
MY PHONE NUMBER
that’s it. And I got 8 calls which I thought was great. Obviously I’m going to be putting out more signs. Good Luck :beer