8 effective ways to find a tenant for your rental property
Having a high quality rental in an ideal location at an optimal price point ensures that quality tenants come to live in your house. While you have little control over the price or location after the acquisition, you still have options for improving the quality of your property's tenants. By communicating and being organized, you will be able to advise clients about the property's highlights, have a neat and tidy property, and promote yourself as a good property manager.
84% of people have financial difficulties.
34%included Fraudulent information on the application
32% require a lot of maintenance.
When it comes to renting out your unit, first you must understand how to find decent tenants. Having good tenants are the ones who safeguard your property, communicate quickly when they require assistance, and adhere to the guidelines outlined in your lease agreement.
The process to find suitable tenants can be overwhelming initially, but there are some tips and tricks you could use to streamline the process.
Here is the list of things you can do to attract tenant and be a successful and good landlord:-
1. Create a list of your tenant requirements ahead of time
Before listing a rental or conducting a showing, you should have an idea of the type of tenant you want. This helps you narrow your focus and gives you a target market to concentrate on when writing the listing copy.
You should also be prepared to answer questions about smoking, pets, and minimum income or credit, to name a few. Having everything in writing not only speeds up the process, but it also protects you from accusations of discrimination...
2. Place ads on rental websites
The internet offers plenty of opportunities. You can list a single unit on a variety of websites, the majority of which are free. Other websites allow tenants to thin their searches by filtering the geographic, number of bedrooms and baths, and price. Several other websites provide incredible benefits for landlords and property, such as the ability to create virtual tours for rental properties.
Posting property listings on various websites is one of the best ways to reach a wider range of potential tenants. Tirios is one of the online platforms where you can list your property and make your search easy.
3. Leverage social media platforms
Every day, a significant number of people incorporate social media into their routines. You should use this chance to make connections with more people. If you have a business, you can set up social media pages, such as Facebook, Twitter, and Instagram. Alternatively, you might use social media to broadcast your vacancy to a wider audience.
Facebook provides a function called the Facebook Marketplace, which is particularly good for those with an Etsy shop. List your home by creating a status update on your account with the relevant photographs and pertinent information for renters. Posting open listings on Facebook groups is another great way to increase your leads. Because listings are removed if they fail to fulfill the group's requirements, you should always read and follow those rules.
5. Referrals and word-of-mouth
Never undervalue the referrals. Word-of-mouth referrals can provide you with the best rental applications for your unit. This is due to the fact that the referrer could indeed vouch for the possible tenant.
Some landlords are willing to compensate referrers for each referral. Your current tenants can also be a great source of referrals.
6. Be flexible
Communication and adaptability are inextricably linked. If you have excellent communication skills but are not flexible when it comes to meeting potential tenants, don't be alarmed if they simply drop off the radar!
Undoubtedly, most tenants will be willing to see the unit on weekends or after office hours, so make time in your schedule to meet with them. This enables you to really get to understand their personality, give you time to ask pertinent questions, and spot any red flags.
7. Enhance the value of your property with add-ons.
You can use add-ons to widen your appeal to a more attractive, higher-income market in order to attract quality tenants. Extra storage space or lighting, stainless steel appliances, built-in wardrobes, heating, air conditioning, and dishwashers are examples of optional features.
While these upgrades are an investment, they will increase the value of your unit and help you boost your rental income in the long run.
8. The importance of routine maintenance cannot be overstated.
Maintaining the property on a regular basis is another method to get attention of potential tenants. This means there will be less work to do while cleaning, fixing and staging the house for a showing, and potential tenants will have satisfaction of knowing the unit is in good hands.
Preventive maintenance also saves time and money by lowering the possibility of things breaking down in the long run. However, if something does break, make sure to respond quickly because nothing ruins a tenant relation faster than delayed repairs.
Are you willing to take your rental property management to another level and increase your profits as a landlord? Begin by downloading and signing up with the Tirios app to increase your exposure to potential tenants and streamline property management of your rental on the go. We make managing your rental properties easier, more transparent, and faster than ever.