If you own rental real estate, eventually you will have to advertise and market your unit for rent. Luckily, in today's digital era, marketing a rental vacancy is easier than ever. You can list your property for rent using property management software that puts your rental on several industry websites, but social media platforms like Facebook (NASDAQ: FB) can expand your reach further and put your unit in front of more potential tenants than industry websites alone.
Facebook is the largest social network worldwide, with over 2.45 billion monthly users, and it goes far beyond connecting with friends and colleagues. With over 800 million monthly users, Facebook Marketplace is becoming a new way to buy, sell, and rent things including rental properties.
If you're not utilizing Facebook Marketplace to advertise a rental, you are missing out on a huge pool of potential tenants. Considering that it's a free resource, anyone who has a unit for rent should be using this tool. Below is a step-by-step guide to listing a rental unit on Facebook Marketplace.
Log in to your Facebook account. If you don't have an account, create one for free.
Access the Marketplace by clicking on "Marketplace" in the menu or by searching "marketplace" in the search bar.
Click "Sell Something," and then click "Homes for Sale or Rent."
Enter the property details and information, including:
- Photos of the property
- Whether the home is for sale or for rent
- Property type (single-family home, condo, etc.)
- Number of bedrooms and bathrooms
- Property address (which can be set to public or private)
- Rental rate
- Property description
- Square footage
- Lease length and date available
- Any additional features, such as pet-friendliness, laundry, parking, and heating or cooling features
Choose whether you want the listing to be placed on the Marketplace only or on your "newsfeed" as well. Marketplace puts it in front of everyone within a certain mile radius of the property and is searchable within the Marketplace itself. Your newsfeed is only available to those you allow to see your newsfeed within your settings (such as your Facebook friends only or friends of friends).
What to expect
Prospective tenants interested in your listing will be able to contact you directly via Facebook Messenger. There are blanket questions Facebook suggests, such as "Is this still available?" which most tenants choose to begin the conversation with. Have a templated response that includes whether it's still available as well as the screening process and qualifications. This helps you eliminate unqualified tenants upfront and allows you to engage in showings with qualified tenants.
Remember, listing to Facebook Marketplace won't instantly rent your unit, it will just put your rental in front of a larger target audience and increase the chances it gets rented faster. If you don't provide quality photos of the unit, have it priced right, or write a good description, it's unlikely you'll get much interest. Always conduct your own due diligence on the tenant, and screen them using landlord best practices.
Hopefully, now that you understand how to advertise a rental on Facebook Marketplace, you'll feel more confident listing your next vacancy on Facebook.