Finding a tenant is actually a two way process. Landlords need tenants to give their property on rent, and tenants need them to live in their property. However, finding each other can sometimes be a challenge. Fortunately, internet offers a golden opportunity to connect each other, but still both face some difficulties to reach them. Here are a few things which may help you to find a tenant easily.
- Online websites:
Internet has become an extremely valuable tool to advertise. A host of online websites are not available which offer meet-up options for buyers and sellers while being in the comfort of their own environment. Most web options are fairly accurate and are updated real time saving you time and making you land at the preferred options. Numerous online websites are available, fortunately, many of them are free. Many sites offer many perks for both landlord and tenant. For instance;
Booking.com: List your guest house, apartment, bedroom, hotel, holiday room or anything on booking.com. Registration can take only 10-15 minutes to complete. Policy of booking.com is very clear and transparent. Their top priority is your peace of mind. Their goals are very helpful and cooperative for the landlords. For instance, they promise
- Choose your prices, policies, and rules for guests
- Access to 24/7 support and guest misconduct reporting
- Set requirements and criteria guests How to find a tenant
- Finding a tenant is actually a two way thing
Similarly, many other websites are available on the internet. You just need to search them and put the pictures of your home, tenants will reach you there.
If you own more than one property and want to give them on rent, preferably, you must develop your own website as well. Hire a professional if you’re not good to use it. Maintaining a website can provide credibility and a strong advertising option in addition to other methods.
- Social media – an effective way:
People of different regions use internet differently. Are you confused? No problem, let’s clarify it. As you know, Identification of target audience is very important. For example, if you are advertising your property through website, only educated people (having good idea of internet) will visit it. What to do, if your target audience don’t use internet effectively? Advertise on social media is the answer. Millions of people use social media as a matter of daily routine. The trick is to make your message as easily understandable as possible. You need to create a Facebook page, an Instagram account, and a Twitter account for your company if you have one. Otherwise, use your personal accounts to let people know you have a property for rent. You can list your property on Facebook, post a photo of the rental on Instagram, or send out a tweet to your followers via Twitter. You can get more profits in low cost.
- Newspaper – can be a great source:
Advertising through newspaper can be a great source for you to look for tenants. It is a traditional way of looking to rent out properties. You should advertise your vacancy on weekends, and on Sundays in particular. This is the time when most people read it thoroughly. Rental ads in newspapers are tiny, so you’ll only have a few lines to make your property stand out. Placing an ad in the newspaper will cost a little, but it’s a good way to increase exposure for your property.
- Advertise by posters/flyers:
It is a well-recognized fact that, “More you show the product, more will be the sale.” So go for every kind of available option. Advertising your property through local bulletin boards can be a great option. Put up flyers for your rental in the community where your property is located. This can include colleges, grocery stores, community centers, and bus stops. People will be passing by the flyer quickly, so use a bold headline and large color photographs to catch their attention. Also, mention your contact number, so people can easily contact you.
- Speak out:
It is said that words have energy and power with the ability to convince others. Therefore, never underestimate the power of the spoken word. Let current tenants know that you have a vacancy. They might have a sister, cousin, or brother who’s looking for a place to live. Tell everyone you know that you have a property for rent. Always have flyers with you so you can hand them out if the opportunity presents itself. If you find a tenant by this way, it will be great. You can trust on him that your property will not be damaged.
- Use advertisement signs:
You can also directly write the words like, “FOR RENT”, RENTER REQUIRED” etc. Many tenants move to a new property within their current area, as they don’t know about your property. Posting these signs will catch this type of renter. Moreover, others who are passing by might be interested or might know of someone who’s looking to rent in the area.
- Hire a realtor:
It is no secret that; you have to follow a hectic procedure if you are buying, selling and renting a property. If you do not have time to rent it out yourself or you do not wish to do the hassle of renting it out you should hire a realtor, who can take care of all the visits and documentation for you. Realtors typically charge a commission of about one month’s rent for their services, and sometimes more, so this might be a last resort. It might be the most expensive way to advertise your property, but look at the bright side. It can save you a lot of the hassle and headaches. So, go for it.
If you go through all these points, you will surely find a good tenant soon. Best of luck.