If you have rental property, then the only way you can make money is by having the right tenants.
So which are the best places to look for tenants?
Use rental websites.
The internet has the advantage of numbers, post your listings on the free rental sites and become instantly accessible to anyone who is on the site. Be clear in your listing and put in relevant information such as the number of rooms, location, and the cost of the property among other things. Include your website on the listing so that you get traction in your website as well.
Utilize social media.
Social media gives you the ability to reach millions of subscribers on different platforms like Instagram, Facebook, Snapchat, among others. Create accounts and push your content, make sure that you link the different accounts. Social media sites like Facebook have marketplaces that you can use while Linkedin has good networking groups that you can join and spread the word about the listings you have.
The best thing about social media is that it is free, and even if you were to boost your ads you will not spend too much money.
Utilize analog media.
While more people utilize the internet when searching for rental property, others still use analog media like newspapers. Place advertisements in the classified section because it is usually a bit cheaper or put it in the main part of the newspaper especially over the weekend if you have the money. This is because people take time to read the newspaper over the weekend because they generally have more time on their hands. While it’ll cost you a bit more, you will get quite a bit of exposure.
You can also hand out flyers, or have to rent signs on the properties.
Used bulletin boards.
Shopping malls, bus stops, supermarkets etc have bulletin boards that you can utilize to advertise your property. However, you need to make sure that your advertisement really stands out because they tend to be a bit cluttered and it is very easy for people to ignore them. Let your content be high quality and eye-catching so that people can notice them.
Word of mouth and referrals.
You can ask your tenants to get you, other tenants, in case a vacancy comes up. You can incentivize them by offering them a commission for any new business you receive. Having a good reputation within the community can also work in your favor because people are likely to refer others to you. Be a good landlord and you will never run short of tenants.
Use real estate agents/brokers/realtors
These are the best people to get you, tenants, because that is their business. You will have to pay them a commission but they have the advantage of knowing the market well and will take the headache of having to look for tenants away from you. They will also vet the tenants to ensure that the people moving into your property are good people.
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