Finding people to rent your property out to isn’t always easy. Even if you do find people who want to apply for your rental property, they may not have the credit and rental history to have their application approved. Luckily, we’ve got 8 tips that can help any landlord find tenants for their rental properties.
1. Rental listing websites
Arguably the easiest way to attract renters is to use rental listing websites. There are several websites where you can list a house or apartment for rent, and most of them let you pay extra to put your listing at the top. When it comes to making your property easily visible to renters, this is the best thing you can do.
2. Property management companies
It does cost a bit of money, but hiring a property management company can take the hassle out of finding renters for a property. Property managers can do everything you’d normally do as a landlord, including screening and approving rental applications. If you want to make being a landlord easy and don’t mind spending some money, this is the way to go.
3. Craigslist
Craigslist may not be the most popular way for landlords to find renters, but it’s still a great avenue. Tons of people use Craigslist to look for rental properties, but those people are usually looking for a situation that doesn’t involve a property manager. As far as Craigslist goes, it’s best if you want to rent a property out on your own.
4. Social media
You can also take to social media to advertise a property for rent, whether you do it via Facebook, Twitter or Instagram. You can target renters based on age, location and more, directing them to an application they can fill out if they’re interested in your rental property.
5. Hire a realtor
If you want to make money off your rental property, you need to be willing to make an investment yourself. Consider hiring a realtor to help you find the best renters. Realtors know where to find the best renters and how to make your property look attractive to prospective renters, so all you have to do is pay a fee.
6. Post a sign
One way to let people know you’ve got a rental property available is to put up a sign outside of that property. Believe it or not, real estate signs are still a great way to advertise homes even with the popularity of the internet. Plus, it costs next to nothing to put a sign up to let people who are driving by know that your home is available for rent.
7. Vet new renters
You don’t want to rent your property to somebody who treats it poorly or doesn’t pay rent, so make sure you vet any potential renters before they move in. You can check eviction history of renters to figure out if they’ve been evicted from any past rentals, whether it was due to late rent payments, misconduct or another issue with the landlord. Running a credit check is also standard practice.
8. Make applying easy
If you want more people to apply for your rental property, make it easy for them to apply. There are lots of ways to create a simple online application that people can fill out, but you also need to focus on trimming the fat and making your application as simple as possible. You can find rental application templates online that can help.
When you own rental properties, finding people to rent those properties is one of the hardest parts of making a profit. Make sure you follow some of these tips and you should have no problem attracting renters and keeping your rental property occupied.