Best way to advertise for Lease to Own Property

[Ken M Middleton]

Hey BP,

I'm in the process of closing on a property that my wife and I are going to put up as a lease-to-own option (3-year deal with a 5k lease option fee to buy).

Does anyone have any advice on the best way to advertise this to get the right people replying to the ad to make it attractive?

Should I list all the terms on the ad so as not to waste my time or keep it vague so I can screen tenants through email and text?

Any advice is greatly appreciated.  Thanks.

KMM

[Mitch Messer]

Hey @Ken M Middleton, congratulations on getting yourself a deal! (That's not easy these days in the Metro Atlanta market...)

Given how hot the rental market is there, I don't think you'll have any difficulty getting it filled quickly!

We've had success posting on Rentals.com, Craigslist, and even Facebook. We post in the "For Sale" as well as the "For Rent" categories. We also typically mention the required option fee in the ad, to screen out those without the ability to pay it.

I encourage you to consider working with an agent to get it listed on MLS, particularly one familiar with how these deals work.

Also, I recommend you increase your option fee to test the market; you can always reduce it if you haven't gotten any traction in the first week. Depending on the price of the property, I'd try between $8K and $12K.