Does you sign say for leases or rent?

General Landlording & Rental Properties
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Does you sign say for leases or rent?

Billy Smith
Shawnee Mission, KS · Member since 2016 · 716 posts · 313 votes

This is a simply question, I had an owner who I am helping rent his house.

The house was overpriced from the get go. I kept telling him that he keeps lower it just a tad at a time,

So now he is grasping at straws why the house is not renting.

I know why but his daughter said the yard sign should say for Rent not for lease. 

I have never had issues but I know how to price a house. To me it looks more professional saying for lease 

So, I decided to look up the meaning of the two words.

“Lease vs. Rent. In real estate, a lease is a contract for a specific period of time — often 6 or 12 months — after which the contract expires, while rent is the payment made under the terms of the lease. Real estate leases are also commonly known as "rental agreements."

So what sign do you use in your yard for an S.F.H for lease or for rent?

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William W.
Rental Property Investor · south Alabama · Member since 2018 · 121 posts · 88 votes
7y

If someone is so dumb that they don’t understand what “for lease” means, I’m not sure it’s someone you’d want as a tenant anyways. 

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  • Kyle J.
    Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
    7y

    I never really thought about it but my signs and advertisements say for rent.  I don't really think it matters.  In your scenario, my guess is that it has more to do with the fact that the house is overpriced than whether or not his yard sign says for rent or for lease.  That's just semantics.  Most tenants are more concerned with the bottom line...what they'll be paying in rent each month. 

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  • Dan Maciejewski
    Realtor · PInellas County Largo, FL · Member since 2016 · 902 posts · 810 votes
    7y

    Haha!  I've had overpriced sellers grasping at straws to find ANY reason besides price that their house isn't selling!!  Next you'll hear that red is an aggressive color and renters prefer blue!

    The question is for her whether or not she thinks potential renters know what 'for lease' means.  I am not sure I've ever had to explain what that word means.  And depending on the area, the yard sign may not be a big draw anyway -- I've stopped using mine in my current area -- I'm bringing in higher rents than the area is used to so I've found those sign calls to be a waste of my time.

    The sign I use is a 'For Rent' sign from Home Depot

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  • Billy Smith
    OP
    Shawnee Mission, KS · Member since 2016 · 716 posts · 313 votes
    7y

    good points 

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  • Steven Woon
    Investor/Real Estate Agent · Allen, TX · Member since 2012 · 33 posts · 10 votes
    7y
    A word of caution. Leasing a house you do not own may require an active real estate licence in your state. You can probably get away with this (I am not an attorney) if the owner is actively involved in showing the house and negotiating the lease. Also, lease agreement has to be drafted by an attorney or the owner.
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  • William W.
    Rental Property Investor · south Alabama · Member since 2018 · 121 posts · 88 votes
    7y

    If someone is so dumb that they don’t understand what “for lease” means, I’m not sure it’s someone you’d want as a tenant anyways. 

    3Reply
  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    7y

    @Billy Smith the signs at my local home improvement store all say "For Rent". When you go to Zillow to search for a home you click on "Rent". When I file my taxes the IRS calls it a "Residentail Rental Property". You posted this question on BP under the category, "Landlord Forums & Rental Property Questions". Every month the tenant pays rent.

    The term rent is just more common so I would use it over lease.

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  • Dennis M.
    Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
    7y
    I assure you many (if not most )Renters won’t understand that . “Lease “is a school word ! Why make it hard for them ? Get yourself some 99cent for rent signs to eliminate confusion.
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  • Jeff B.
    Investor · Saint Charles, MO · Member since 2016 · 16 posts · 8 votes
    7y
    @Billy Smith I don’t use a sign. Zillow is my preferred location to advertise.
    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Billy Smith:

    This is a simply question, I had an owner who I am helping rent his house.

    The house was overpriced from the get go. I kept telling him that he keeps lower it just a tad at a time,

    So now he is grasping at straws why the house is not renting.

    I know why but his daughter said the yard sign should say for Rent not for lease. 

    I have never had issues but I know how to price a house. To me it looks more professional saying for lease 

    So, I decided to look up the meaning of the two words.

    “Lease vs. Rent. In real estate, a lease is a contract for a specific period of time — often 6 or 12 months — after which the contract expires, while rent is the payment made under the terms of the lease. Real estate leases are also commonly known as "rental agreements."

    So what sign do you use in your yard for an S.F.H for lease or for rent?

     Fire this fool. lol. As we all know it's irrelevant that is says rent or lease. You hit the nail on the head in your comment, it's overpriced & he's just grasping at straws because he's got no clue what he's doing and won't accept that it's priced wrong. Wouldn't spend any time on this guy. Fire him & move on with your business. Working with clients who think they know more than you never ends well. The key to be a high performing agent is to be disciplined enough to say "no" to clients who aren't ideal for your business.

    1Reply
  • Billy Smith
    OP
    Shawnee Mission, KS · Member since 2016 · 716 posts · 313 votes
    7y

    agree !

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    The word "lease" is only difficult for a certain demographic and you probably don't want to work with them, anyway. I would provide the owner with a few comparable rentals to demonstrate how his is over-priced. If he refuses to lower the rate to market level, fire him and move on.

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  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    7y
    Originally posted by @Jeff B.:
    @Billy Smith

    I don’t use a sign. Zillow is my preferred location to advertise.

    Curious why is that? I use Zillow and several other sources but still use yard signs. Probably 1 in 4 tenants comes from the yard sign. More importantly my longest term tenants always come from signs, because usually they saw the sign on the way to work or a relative or friends house, meaning they want to live in that neighborhood. To filter the junk, I just direct my yard sign to Zillow.

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  • Jeff B.
    Investor · Saint Charles, MO · Member since 2016 · 16 posts · 8 votes
    7y

    I am very choosy on whom I rent to.  As soon as I put a sign out, I start to get some less desirable potential tenants and a ton of phone calls. ( I have a day job)  I have found that a lot of people are looking to move to this area. from all over.  By using Zillow basically, I cast a wider net and can view the pool in my free time.  I just rented to a guy that was super commuting from Tampa into the St. Louis area.  Best tenant ever; never there and paid his rent on time. (he finally moved on and out).  He would have never found me without Zillow.  You get the point, I'm looking far and wide for the best tenants and I have not used a sign in several years and I never have had problem renting.      

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