Do we need to put our rental on the MLS?
Every investor wants the maximum exposure to their rental property. They want to ensure that they have a wide range of lead sources coming to see their rental property.
As a property management company, Jay has the ability as a licensed real estate broker to add properties to the MLS (or realtor.ca), however, is it really necessary?
The answer is, it depends.
Man, do I ever sound like a lawyer right now.
A lot of listings that we receive get enough traffic from our usual lead sources of Kijiji, Facebook and Zumper.
However, there are some properties where listing on the MLS makes sense.
For example, we recently listed and rented an executive property in Niagara Falls. The property was a 4 bedroom. 4 bathroom executive level home with an inground pool, landscaped backyard, double car garage and many more options. The property was listed for $4000 + utilities.
Once we start listing properties for north of $2500, the tenant pool tends to get smaller and smaller, and leads in that echelon start to engage a realtor to assist in their search. In that case it makes sense to list on the MLS.
However, if you’re trying to fill a legal duplex conversion, you really don’t need the MLS at all as the lead flow from those 3 sites is more than enough? However, if you want some added exposure, our team can always add the MLS as another lead source for you, for a nominal fee.
Remember this though – be patient. You will find the right tenant, you just have to find the right one.
Interested in getting some help from the Welcome Home Team? We’d love to help. Feel free to reach out today and we can go from there.