Classified as among the most common challenge for Bangor 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 identify and find a suitable tenant for your rental property. When carefully used together, these methods can help you to keep your vacancies short and the rental income flowing.
1. Hang a “For Rent” Sign
Despite that most renters these days use the internet to search for 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 sign in front of the rental property can, indeed, draw in prospective tenants who are searching for a rental home in specific neighborhoods or near certain amenities.
2. Rental Websites
In case you are advertising your rental property, you should register it on one or multiple rental websites. Studies present that the vast majority of renters in all age groups start their rental property search online. Undoubtedly, the more visible your property, the larger the pool of applicants.
3. Social Media
Besides rental websites, social media presence is critical to effective advertising. People spend a lot of time on social media, and to easily reach them, you want to have detailed information regarding your available property circulating there also. Social media also has the significant advantage of being shareable, and people will usually 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 and productive at drawing prospective tenants to your property than other known methods. There are a lot of inexpensive options to advertise in local newspapers, online classified ad websites, and even community bulletin boards (both physical and online). All in all, knowing where your ideal tenant goes to get information concerning rental homes can aid you to be much more strategic regarding placing your advertisements for maximum visibility.
5. Word of Mouth
Advertising professionals are aware that few modes of advertising are as effective as word of mouth. As soon as you have a property open for rent, you have 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 bring them with you every time you go out. Whenever possible, offer a referral fee for an added incentive. Possessing a network of personal contacts and a readiness to engage with the public can make a big difference in finding your next great tenant.
At Real Property Management Lehigh Valley, we take care of advertising and leasing rentals for you. Call us at 484-544-3351 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.
