Finding a decent renter in today’s market can be a challenge especially this time of year. This top five list should give you some ideas on how to keep from letting your property stand vacant too long.
- Post signs! Avoid using signs that say “vacant” or “rentals available” and instead utilize signage stating “Available Soon.” People driving by is the number one method potential tenants use to find a rental property. If your road is not heavily trafficked, use directional signage and attach ribbons or balloons to attract attention. Be sure to add your contact information, number of bedrooms and price on your sign.
- First impressions are everything, so make sure the outside of your property is presentable. Landscaping should look nice and seasonal. Use holiday decorations during the holiday months. Curb appeal is very important.
- Talk your property up to all your acquaintances and neighboring tenants. Recommendations are the second highest method to renting out your unit.
- Post a small ad in the newspaper citing the address and price. Small ads are actually just as visible as large ones and may actually attract more potential tenants.
- Location, curb appeal, number of bedrooms, neighbors and price (in that order usually) are the first things renters look for in a property, but if your property passes those tests the interior will be important as well. Furnish only what is necessary and check your competition.
While these are some of the most important tips for attracting potential tenants, keep in mind there are other important factors as well. Make sure that you are available from 9-9 or list hours you are available for a phone conversation. This initial conversation can make or break your rental agreement. Be sure to offer price and talk about the interior and other features. Be aware that placing too many limitations on potential tenants (i.e. no pets, waterbeds, children or minimum income) may take your property out of the running.
