One of the most common challenges for Addison 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. You can try these five great ways to get that ideal tenant for your rental property. These methods, when used together, can help you keep your vacancies short and the rental income flowing.
1. Hang a “For Rent” Sign
Nothing can truly take the place of posting a “For Rent” sign in the yard even when most renters these days use the internet to scout for rental properties. Simple, inexpensive, and yet effective, a sign hung in front of the rental property helps draw in prospective tenants who are scouting for a home to rent in specific neighborhoods or near certain amenities.
2. Rental Websites
If you are advertising your rental property, it helps to list it on one or more rental websites. It is common knowledge that the vast majority of renters in all age groups start their rental property search online. The more visible your property, the larger pool of applicants available to you.
3. Social Media
Together with rental websites, social media presence is critical to effective advertising. People spend a lot of time on social media nowadays. To connect with them, you need to have information about your available property circulating there. Social media also has the significant advantage of being shareable. Because of this, people often 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 could be a more effective method of drawing prospective tenants to your property. There are a variety of inexpensive options to advertise in, such as local newspapers, online classified ad websites, and even community bulletin boards (both physical and online). You can strategically place your advertisements for maximum visibility once you know where your ideal tenant goes to get information about rental homes and properties.
5. Word of Mouth
Advertising professionals always say that few modes of advertising are as effective as word of mouth. Whenever you have an available rental property, you should tell people about it. Friends, family members, neighbors, and fellow property investors can all be beneficial in spreading the word. Have some flyers on hand. Give these to people you meet whenever you go out. If it is within your budget, you may offer a referral fee for an added incentive. You can easily find your next great tenant when you have a network of personal contacts and regular engagement with the public.
At Real Property Management Legend, we take care of advertising and leasing rentals for you. Call us at 214-227-2404 or contact us online to discuss strategies we implement in our rental property management plans!
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