Among the most common challenges for Cambridge 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. There are five great ways to find the right tenant for your rental property. Whenever applied collectively, these methods can indeed help you keep your vacancies short and the rental income flowing.
1. Hang a “For Rent” Sign
Even though most renters these days use the internet to seek for available rental properties, nothing can truly take the place of posting a “For Rent” sign in the yard. Simple, inexpensive, and yet effective, sticking up a visible sign at the front of the rental property can draw in prospective tenants who are going in search of a rental home in specific neighborhoods or near certain amenities.
2. Rental Websites
Just in case you are advertising your rental property, you’d want to post it on one or numerous rental websites. Studies show that the vast majority of renters in all age groups start their rental property search online. Without a doubt, the more visible your property, the larger the pool of applicants.
3. Social Media
Apart from rental websites, social media presence is critical to effective advertising. People spend a lot of time on social media, and to keep in touch with them, you need to have extensive information concerning your available property circulating there as well. Social media equally has the significant advantage of being shareable, and people will oftentimes 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 show itself as being more effective at drawing prospective tenants to your property than other familiar methods. There are many inexpensive options to advertise in like local newspapers, online classified ad websites, and even community bulletin boards (both physical and online). Lastly, knowing where your ideal tenant goes to get information with regards to rental homes can help you to be way more strategic concerning placing your advertisements for maximum visibility.
5. Word of Mouth
Advertising professionals know for sure that a few modes of advertising are as effective as word of mouth. Immediately when you have a property ready for rent, you can tell people about it. Friends, family members, neighbors, and fellow property investors can all be beneficial in spreading the word. Print up some flyers and have them with you whenever you go out. As much as possible, offer a referral fee for an added incentive. Holding a network of personal contacts and a preparedness to engage with the public can be of great value to discovering and finding your next great tenant.
At Real Property Management Boston, we take care of advertising and leasing rentals for you. Call us at 617-522-0099 or contact us online to discuss strategies we implement in our rental property management plans!
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