Rental Marketing Platforms
Rents in San Francisco are down. There are fewer renters at open houses and units are staying unrented for longer. Some estimate rents are 10% or more off their peak meaning if a landlord achieved $3,200/month in rent for a one bedroom, they are now around $2,900. Not all landlords are approaching this the same way and I believe it’s helping the more creative ones to achieve top of the market rents. One area landlords focus on is their advertising platforms, or where to advertise a unit. Craigslist is the standard. As Dave Chesnosky, Director of Leasing for RentSFNow, puts it “Surprisingly still in 2017 Craigslist brings in great leads that convert more leases than other sites”. However, some top rental candidates are looking on multiple sites. Dave and other industry leaders are on different platforms to make sure they get those candidates too. Joanne Fazzino, the top leasing agent at J.Wavro, prefers Zillow and Trulia (now owned by Zillow). Zillow’s Rental Manager site (https://www.zillow.com/rental-manager/) is easy to navigate with a simple photo uploader. Advertising on Zillow is fairly easy and getting a unit up on their site is free. Haley Crawford, Director of leasing for Brick & Timber, has good success with Hotpads. Hotpads (https://hotpads.com/) is very easy to register, no password is required. One of the benefits for Hotpads is how easy it is to use on the iPhone. Vicki Ernst, director of management for W Property management, uses apartments.com (https://www.apartments.com/add-edit-listing/). Their phrase “one step. Millions of renters” is very true and its free. In summary, the rents in San Francisco are off their historic highs, but great renters are still out there if landlords are willing to branch out to beyond Craigslist.