TIP OF THE WEEK
for the week of July 5, 2010
NICHE MARKETINGHaving trouble filling a rental vacancy? Try "niche" marketing. Niche Marketing is when you reach out to a specific or particular segment of the population. If you are one of the few landlords or perhaps the only landlord in the area which goes after a particular market, that target market alone may be enough to keep your place(s) rented. The following are nine examples of niche marketing to which some landlords have marketed successfully:
1) One niche market that has worked well in some of rentals are those who work/clean for nearby hotels.
2) I try to provide full service for college renters who are willing to pay top dollar (or who have parents willing to pay top dollar. We provide lawn care, wall color choices beyond basic white, free furniture, firewood, maids, anything they could possibly need. Shuttle to the airport. It keeps my places full.
3) Hospital employees
4) Military personnel
5) Large employers - Corporate rentals
6) Older / Retired Individuals 7) Immigrants of various ethnic groups. If you have a good rental relationship with one of them, word will quickly spread through their community by word of mouth and you will have continual referrals. When one leaves a friend of theirs will want the place.
8) If you're in a good hunting /fishing area advertise to to those who may want to retire in that area.
9) If you're in an area without a lot of restrictions, advertise to truckers that want to park their rig close to the house. These Weekly tips are shared on the MrLandlord.com website or in the Mr. Landlord newsletter from website contributors, Jeffrey Taylor (founder) and real estate authors featured in our newsletter. To receive a free sample of Mr. Landlord newsletter, call 800-950-2250 or visit their informative Q&A Forum at MrLandlord.com, where you can ask landlording questions and seek the advice of other rental owners 24 hours a day.
Share your landlording or management tips with us, and if we share your tip on our web site, we will give you a free six-month subscription to the MR. LANDLORD on-line version of the newsletter that will be emailed to you each month. Send your tips to editor@mrlandlord.com. 
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