One of the most common challenges but a really important activity for Blacksburg 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 discover the most ideal tenant for your rental property. When properly followed and applied all together, these methods can help you keep your vacancies short and the rental income flowing.
1. Hang a “For Rent” Sign
Even though it’s true that most renters these days use the internet to go after easily accessible and available rental properties, nothing can truly take the place of posting a “For Rent” sign in the yard. Simple, inexpensive, and yet effective, setting up a signboard fronting the rental property can draw in prospective tenants who are on the lookout for a rental home in specific neighborhoods or near certain amenities.
2. Rental Websites
In situations where you are advertising your rental property, you may have to post it on one or several rental websites. Studies highlight that the vast majority of renters in all age groups start their rental property search online. Certainly, the more visible your property, the larger pool of applicants.
3. Social Media
Added to rental websites, social media presence is critical to effective advertising. People do spend a lot of time on social media, and to attract their interest, you must post every important detail related to your available property circulating there, likewise. Social media further has the significant advantage of being shareable, and people will, most of the time, 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 reveal to be more practical and effective at drawing prospective tenants to your property than other methods known. There are various inexpensive options to advertise in local newspapers, online classified ad websites, and even community bulletin boards (both physical and online). Ultimately, knowing where your ideal tenant goes to get information in terms of rental homes can get you to be significantly more strategic relating to placing your advertisements for maximum visibility.
5. Word of Mouth
Advertising professionals very well grasp that few modes of advertising are as effective as word of mouth. Whenever you have a property ready for rent, you must earnestly 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 constantly bring them with you any given time you go out. Whenever possible, offer a referral fee for an added incentive. Maintaining a network of personal contacts and an eagerness to engage with the public can make a world of difference toward successfully finding your next great tenant.
At Real Property Management Insight, we take care of advertising and leasing rentals for you. Call us at 540-998-6917 or contact us online to discuss strategies we implement in our rental property management plans!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.