Recent statistics show that 44.1 million households in America are rented. As a landlord, many people are looking to rent, but you are likely competing against other properties in the neighborhood. You want the best tenants to contact you, not a competitor.
Keep reading to discover how to find tenants and ensure your property will not be vacant.
Use Social Media
This is a powerful marketing tool. It’s a great way to find referrals and reduce advertising spend. One option is Facebook Marketplace.
Twitter and Instagram work well too. Make sure to apply hashtags to your post to help with visibility. Choose hashtags related to the rental property type and the location it is in.
Post on Craigslist
Craigslist is proving to be an invaluable tool for people looking to rent. Therefore, it is more popular than Trulia, Zillow, and Redfin. You should try a few options, so as you post your ad, make sure Craiglist is in the mix.
Place a Sign
A brilliant way to get a prospective tenant's attention is to place a sign in front. People looking to rent will often travel through the neighborhood and take advantage of contacting the “for rent” sign.
There are various types of rental properties, including one-bedroom, two-bedroom, studio, single-family homes, etc. Specify the kind you are renting on your signage. This will help to narrow the focus of the people who call you about the property for rent.
Create a Sense of Urgency
If market your property as being in an area with few available rentals, and likely to get snatched up quickly, this gives potential applicants a sense of urgency. Having your property for rent sound like the hottest commodity on the market will make people want to act quickly and set up a viewing.
Since you are creating urgency, it is important to respond to inquiries immediately. You want to show a potential tenant that you are a good communicator and that you will promptly handle questions and issues if they rent your property.
Not all applicants are the best tenants. For this, run a tenant background check.
You can say no, but to do that, you need a set of criteria for what you are looking for. Asking specific questions will help you discover an applicant who will care for your property.
It is illegal to discriminate against applicants. You can say no for bad credit, past eviction, or criminal activity.
Work With a Rental Property Management Company
Finding the best tenants is a complicated process. If you are not 100% sure you can find good tenants, meaning ones that pay on time, care for the property, and abide by the law, then seek the help of a professional. A qualified rental property management company can help.
It alleviates the burden of tedious tasks like marketing your rental property. When finding tenants, you can optimize your time and talk with applicants who pass the tenant screening from professionals. Your time will be spent making the final decision.
How to Find Tenants
Now that you know the best way to find tenants, you can execute a lease agreement in no time. Laureate, Ltd. can help. They have been helping landlords like you since 1982.
Managing over 1,000 properties, they are Denver's largest rental property management firm. They will find the best tenants for you. Contact the experts at Laureate, Ltd today to learn more!