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Marketing your investment rental property requires only a few decisions. The answers to these questions also depend on the current market environment.

Most tenants base their search for a new space on the rent they can afford. Many towns have their own real estate sections on their websites with links to local agencies listing rental prices and properties.

Second, for how long are you willing to lease your property?

While twelve months is typical for residential properties, sometimes shorter or longer terms can be desirable for the landlord or the tenant. A prospective tenant may need a temporary space, while building their house perhaps. Short-term rentals can be advantageous to a landlord because they fill the space quickly, often with little or no improvement to the property and at a higher rent. Additionally, the investor will now have more time to market the space to a long-term tenant while still receiving rent. What improvements do you need to have done prior to marketing your rental property? Showing an apartment in the middle of August in a hot climate without a properly working air conditioning unit may indicate to the prospective tenant that the landlord will not handle necessary repairs during their lease term.

Additionally, in a slow market, staging your property may help prospective tenants see how terrific the space looks once they have moved in. Some potted plants on the front stoop and a nice bowl of fruit on the kitchen counter can go a long way to making the rental look welcoming. Knowing your market is key.

Often, an agent can rent your investment rental property faster than you would on your own and for more money, easily outweighing their fee.