Finding renters can be difficult if you own a rental property, and it is even more challenging to find reliable renters. The good news is that more people than ever are renting their homes. Look at Louisville, where almost 40% of people rent.
The bad news is that if you don’t already have a queue of people looking to rent, you will need to do some legwork to find renters. Don’t worry, though. We’ve got a selection of tenant leads for you to pursue.
Read through this list, and we’re sure you’ll find your perfect tenant in no time.
Table of Contents
1. Create an Attractive Rental Listing to Find Renters
Our first tip will cover something crucial that you get right. Although you might see how excellent your property is, that’s something you’ll have to work to convey to a new tenant. Throwing up a bullet-point list of your property positives isn’t cutting it.
If your listing looks a bit bare-bones, spice it up a little bit. Think about what’s great about it.
One good tactic here is to look at where the property is situated. If there are schools nearby or the neighborhood is particularly vibrant, you need to hammer these ideas home. Work with whatever you’ve got, and try to push the positives.
Bonus Tip: Impress Prospective Renters
You can hit a couple of points that will impress a prospective renter. Being allowed to keep pets is one of the big ones, as most people will have or want a feline or canine companion.
Another point to aim for is the language you use in the listing. Try to be more warm and friendly with the language you use. For example, describing the property in a way that conveys a comfortable, snug atmosphere will impress a positive idea onto the reader.
2. Look at Rental Websites
There are many rental websites for you to put your listing on. Many websites let you do it for free, so there’s no reason not to get your property out there. A few will have paid options, but they usually aren’t required.
There are your standard places like Craigslist that you can advertise on, but you should also consider dedicated rental listing sites. Look at places like Cozy, Doorsteps, Realtor.com, and Google for any sites dealing specifically in your area.
Bonus Tip: Build Your Web Presence
If you’ve got a lot of property and aren’t only renting a single space, you might consider going a little larger in scope. Starting a website and building your presence can be a great way to provide a one-stop shop for your rentals.
This also gives you unlimited amounts of space to showcase your property. You’ll have no limit on the number of photographs and information you want to provide and have a more direct line of contact.
3. Try Using Social Media
Social media isn’t only for posting pictures of your pets and holidays. It’s also one of the best places to do business.
Going on Twitter and shouting into the void that you’ve got a property for rent might not be the best strategy, but look at local groups on websites like Facebook.
They can provide a great way to get in touch with potential renters. Like the suggestion above about building a web presence, these places also tend to be a lot less limiting on the amount of media you can use to showcase your property. Remember to be careful to avoid scams.
Bonus Tip: Take Great Photographs
A well-lit, well-taken photograph is worth a thousand words when renting out your property. Make some effort to take a high-quality picture of each room on your property. That lets potential renters get a good idea of the space and allows their imagination to run wild with ways to populate it.
4. Use Flyers in Your Community
There’s a lot of focus on the online world when it comes to suggestions for how to find new tenants. Even though the digital space is the most effective, don’t underestimate the power of getting the message out in person.
Plenty of places in a local community will have bulletin boards or areas to distribute flyers. You might need to get a little creative to make something eye-catching, but it’s a fantastic way to attract local renters looking for something in the area.
Bonus Tip: Cram in Important Info
The only issue with flyers is that you might be a little short on advertising space. Remember to cram in as much valuable information as you can. We’re talking about how many bedrooms and bathrooms there are, what amenities are available, etc.
5. Use a Tenant Screening Process
One last thing to remember is that even though you are trying to sell yourself and your property to new renters, they must also sell themselves to you. Go through a screening phase of the rental process with them, even if it’s a limited one.
Make sure they are the right fit for your property and do everything you can to ensure they can financially support themselves with no concerns.
Bonus Tip: Understanding a Lease Agreement
It would help if you also looked into understanding lease agreements to protect yourself and your property and facilitate a good relationship with your renter. Nothing will sour communication faster than not being clear about the rental contract.
This is especially true if you end up renting to a family member, and you should learn more if you intend on doing that.
Managing Your Investment Property
People often talk about investing in property as a great way to secure your financial future, but they forget about the hard work it involves. Trying to find renters is just one example, but there’s a lot more to it. You need to maintain the property, care for it, and ensure it’s always in the right hands.
If you’d like some more tips on dealing with your real estate, and any troubles that may bring, then you’ve found the right blog. We’ve plenty of articles that’ll help you in everything from maintenance to legal issues, so keep reading!