A property manager in Victoria, BC, is considering options for marketing a newly vacant 1-bedroom condo. The owner has a limited budget for advertising. Which marketing channel offers the best balance of cost-effectiveness and reach for this type of property?

Question: A property manager in Victoria, BC, is considering options for marketing a newly vacant 1-bedroom condo. The owner has a limited budget for advertising. Which marketing channel offers the best balance of cost-effectiveness and reach for this type of property?

Answer options: ✅ Professional photography and videography for a virtual tour, posted on various online rental platforms.

• A full-page advertisement in a local newspaper.
• Hiring a real estate agent to list the property on the MLS.
• Posting flyers on community bulletin boards in the neighbourhood.

Correct answer: Professional photography and videography for a virtual tour, posted on various online rental platforms.

Explanation: For a limited budget, utilizing online rental platforms with professional media offers the best balance of cost-effectiveness and reach for a condo. These platforms target a broad audience of prospective renters directly and are often free or low-cost for basic listings, per common property management practices.