One of the most common challenges for Prosper property owners is finding a quality tenant. So much depends on renting your property to someone who will not only pay their rent each month and on time, but who will also take good care of the property. There are five great ways to locate and find the best tenant for your rental property. If used together properly, these methods can enable you to keep your vacancies short and the rental income flowing.
1. Hang a “For Rent” Sign
Granted that most renters these days use the internet to go in search of open and available rental properties, nothing can truly take the place of posting a “For Rent” sign in the yard. Simple, inexpensive, and yet effective, putting up a visible sign in front of the rental property can draw in prospective tenants who are inquiring for a rental home in specific neighborhoods or near certain amenities.
2. Rental Websites
If, in any case, you are advertising your rental property, you must post it on one or many rental websites. Studies clearly show that the vast majority of renters in all age groups start their rental property search online. There can be no doubt that the more visible your property, the larger the pool of applicants.
3. Social Media
In addition to rental websites, social media presence is critical to effective advertising. People spend a lot of time on social media, and to get to them, you do need to have information details with regards to your available property circulating there, too. Social media, also, has the significant advantage of being shareable, and people will mostly forward posts about available properties to people they know are looking for a new home.
4. Classified Ads
Depending on your target demographic, classified ads may demonstrate to be more effective at drawing prospective tenants to your property than other techniques. There are some inexpensive options to advertise in like local newspapers, online classified ad websites, and even community bulletin boards (both physical and online). In the long run, knowing where your ideal tenant goes to get information relating to rental homes can support you to be far more strategic in terms of placing your advertisements for maximum visibility.
5. Word of Mouth
Advertising professionals understand very well that few modes of advertising are as effective as word of mouth. If you have a property available for rent, you need to tell people about it. Friends, family members, neighbors, and fellow property investors can all be beneficial in spreading the word. Print up some flyers and always bring them with you any time you go out. If it is possible, offer a referral fee for an added incentive. Keeping a network of personal contacts and a readiness to engaging with the public can count a lot around finding your next great tenant.
At Real Property Management One Source, we take care of advertising and leasing rentals for you. Call us at 214-960-1612 or contact us online to discuss strategies we implement in our rental property management plans!
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