Finding the Best Tenants for Your Rental Property
If you own a rental property and want to find the best possible tenants, there are certain steps you should take. Potential tenants look for rental property in a variety of places, so it’s important to advertise through multiple mediums.
Advertise on Rental Websites
Websites like Craigslist.com and Trulia.com allow you to list your rental property for free based on location. There are many state-specific websites where you can advertise your property, just do an online search to find a site that targets your area.
Use Social Media
Millions of people use social media platforms like Facebook and Twitter. You can use your personal Facebook or Twitter account to let people know you have a property for rent. List your property on Facebook’s marketplace, post a status update or send out a tweet to your followers.
Advertise in Print
Many people look for rental properties in the newspaper. Advertise on the weekend, especially Sundays, as this is when newspapers have the most readers. You only have a few lines to advertise in print, so use abbreviations to save space. Thought it costs money to advertise in the newspaper, it’s another way to increase exposure.
Use Bulletin Boards
Post flyers in the community where your property is located. This includes bulletin boards at stores, churches and bus stops. Use bold headlines and large color photographs to draw interest. The bottom of the flyer should include tear-offs for people to take that include the property address, the number of bedrooms and contact information.
Find Tenants Through Word of Mouth
Never underestimate the power of the spoken word. If you have any current tenants, let them know there is a vacancy. Tell everyone you know about your vacancy because it’s always possible they need a place to rent or that they know someone else who does. Keep flyers on hand so you can hand them out when it comes up.
Everyone likes the idea of a deal or a discount. Offer things like a free TV or discounted rent if a tenant moves in by a certain date. If a television gets someone to move in earlier, you’re saving yourself money and the television can be a tax write-off for the property.