Ten Tips to Get Your Place Leased
Ten Tips to Get Your Place Leased
There are two ways to find a tenant for a rental property: the easy way and the hard way.
Easy means hiring a certified property manager, while hard entails doing it yourself. Either route you choose, here are ten tips to get your place leased to a desirable tenant:
- Advertise on Rental Websites. The internet is a great way to reach the masses. Sites such as Craigslist allow you to list your rental property based on location, making it easily searchable. Zillow also lets you post a free listing, which can be seen anywhere in the world.
- Use Social Media to Find Tenants. Millions of people use social media sites like Facebook and Twitter. If you have a company, you should create a Facebook page and a Twitter account for it. If not, you can use your personal Facebook or Twitter account to let people know you have a property for rent.
- Advertise in Print Media. Many people look for rental properties in the newspaper. Aim to advertise on the weekend, and in particular, on Sunday because this is when newspapers see the most traffic.
- Advertise on Local Bulletin Boards. Put up flyers in the community where your property is located. This can include bulletin boards at grocery stores, churches, Laundromats, and bus stops.
- List Your Property with a Realtor in Your Area. For their services, brokers typically charge a commission of about one month’s rent, sometimes more. You may want to interview two or more realtors to find the one you are most comfortable listing your rental with.
- Find Tenants Through Word of Mouth. If you have current tenants, let them know you have a vacancy. They may have a sister, cousin, or brother who is looking for a new place to live. Tell your brother, sister, hairdresser, boss, and mechanic that you have a property for rent.
- Place a ‘For Rent’ Sign in the Window. While you won’t reach the masses by placing a “For Rent” sign in the window, there is no harm in doing it either.
- Find Tenants by Offering Incentives. People like the idea of getting a deal or a discount. You can offer a free TV or a discounted rent if a tenant moves in by a certain date.
- Answer the Phone/Email Promptly and Be Ready to Show the Apartment. Don’t wait a week to respond to a potential tenant. If you don’t call or email a tenant back promptly, another landlord or realtor will.
- Try YouTube, says Andrew L. Propst, president of the National Association of Residential Property Managers. Upload a virtual tour of your property and then post it.
Know the law. When you offer your apartment to the public for rental, you become subject to landlord/tenant laws at the federal and state levels, so do your research. Most importantly, you need to familiarize yourself with the Fair Housing Act, which specifies what constitutes illegal discrimination against qualified tenants. (For example, you can reject a tenant based on credit history, but not based on race or familial status.) The Department of Housing and Urban Development’s website is a good place to start gathering information.
At Roxbury Mill Properties, LLC We specialize in purchasing distressed homes, renovating and reselling. In this way we not only help homeowners out of difficult situations but also improve the community by providing affordable housing that attracts new homeowners to these neighborhoods.
Through our extensive knowledge of the business, our network of resources, and years of expertise, we are able to assist homeowners with a wide variety of real estate problems. We pride ourselves on working one-on-one with each customer to handle their individual situations.
With the ability to directly purchase homes and make cash offers, we can create an extremely fast, and hassle-free transaction.