One of the most common challenges for Hollywood 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. These five great ways of finding a tenant can help you get the most suitable one for your property. Used together, methods like these may help you keep your vacancies short and the rental income flowing.
1. Hang a “For Rent” Sign
Most renters these days use the internet to look up available rental properties. Despite this, nothing can truly take the place of posting a “For Rent” sign in the yard. Simple, inexpensive, and yet effective, a sign out front of the rental property helps draw in prospective tenants who are on the hunt for rental homes in specific neighborhoods or near certain amenities.
2. Rental Websites
When advertising your rental property, it is helpful to list it on various rental websites. Several studies have shown that the vast majority of renters in all age groups start their rental property search online. The more visible your property, the larger the pool of applicants.
3. Social Media
Social media presence is critical to effective advertising as well. Most people spend a lot of time on social media. It’s an advantage if you have information about your available property circulating there, too. Social media also has the significant advantage of being shareable. Because of this, people often 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 also be an effective way of drawing prospective tenants to your property. There are a variety of inexpensive options to advertise in, such as local newspapers, online classified ad websites, and even community bulletin boards (both physical and online). At the end of the day, knowing where your ideal tenant goes to get information about rental properties lets you make strategic decisions about placing your advertisements for maximum visibility.
5. Word of Mouth
Few modes of advertising are as effective as word of mouth. That’s what advertising many professionals always say. Once your property is ready and available for rent, you should tell people about it. Friends, family members, neighbors, and fellow property investors can all be beneficial in spreading the word. Have some flyers on hand. Give these to people you meet whenever you go out. If it is within your budget, you may offer a referral fee for an added incentive. When you have a network of personal contacts and you are willing to engage with the public, you may just soon find your next great tenant.
At Real Property Management Asset Solutions, we take care of advertising and leasing rentals for you. Call us at 954-889-5627 or contact us online to discuss strategies we implement in our rental property management plans!
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