The worst nightmare of any landlord, after repair and maintenance issue, is not finding a tenant in time. In the parallel universe, the landlords have no problem finding the right tenant as soon as the previous one vacates the house, in our universe, it is never this easy.
When tenants move out, the landlord starts losing sleep, because they need to find the new tenant as soon as possible. The abrupt halt in cash is not something any landlord is looking forward to, so even before the last tenant moves out, smart landlords start hurting for the next tenants. Keep all units filled is how you can get your ROI up and earn a steady flow of income; however, it is easier said than done. The best way to get your units occupied is to advertise them to the best of your potential. However, your goal should not only be to find a tenant as soon as possible, but also the right one, because you don’t want one to get out of one mess only to fall into another. A bad tenant is as good as a vacant house; both are a nightmare to deal with.
Most experienced and well-versed landlords who have been in the business for long have ample connection; they also have many real estate agents on their payroll. Hence, these agents can advertise on their behalf, but hiring a realtor means you will have to pay him a fee, which means your profit will go down a bit. Fortunately, the internet and the age of social media has made it very easy to do the legwork and find a decent tenant without the help of a real estate agent.
With modern technology and with various real estate sites, you can easily find the perfect tenant in time. However, it does take a bit of time and effort in your part, but it will save you a lot of trouble as well as money that would have been spent on the realtor. Here are some tips and trick that will not only help you find a tenant, but it will also get the lease signed in no time.
A picture says a thousand words, and when it comes to real estate, there is no truer saying. Did you know that tenants look through thousands of listings to find that one perfect apartment or a unit to rent? By the end of the day, all listings start to look the same, and all descriptions start to seem boring and unimportant. To catch the eye of your audience and to lock in a tenant, you need more than a comprehensible description. You need, “Good Pictures” the power of a captivating and clear picture can’t be underestimated. Always put your best foot forward when advertising a product, and when you are advertising real estate, there is nothing better than photo evidence of how the place looks like from all angles.
It is human nature, that more than words they are more attracted towards colors, and visuals. The better your pictures, the more reviews, and views on your listing, you will get. They will read the description, but first, they will check out the pictures and only when they like the visuals, would they go and check out the details of the property. Your crisp and clear photos will give your listing a boost. However, not everyone has the best photography skills or all the equipment; in such cases, you should hire a professional real estate photographer, as this is one expense that is a good investment.
If you cannot hire a professional, here are some tips that will help you take the best shots of your real estate property.
- Take all your pictures in broad daylight
- Make sure all the clutter is removed from the picture
- Tidy up before taking pictures
- Move the furniture around, and make the room look pleasing
- Always add the exterior of the building in your listing
- If you can, a fresh coat of paint will do your pictures a lot of good
- If your unit is empty of all furniture, it’s for the best, because then the potential tenants can picture themselves in your house
Clear and sharp pictures of your well-maintained property will make sure that your listing is clicked, viewed as well as contacted by everyone who is searching for a property that looks like yours.
Target All Markets
Online is the market, and social platforms are your tools. As a landlord, you should be aware of all the tools in your arsenal, and you should not shy away from any of them. Most tenants nowadays search online when they are looking for an apartment. This is their first step, and this should also be yours.
With Social media, you can really get the word around. All social media platforms have the groups and pages that have the best leads; you can get a list of ideal tenants from these groups without putting in much effort. Most of these groups are with state names and areas, so you can find one that works for your area and list your property there.
While social media is great, you should ignore the importance of yard sales as well as newspaper ads. Leave no stone upturned when you are looking for that perfect tenant as soon as possible.
Networking Is the Key to Success
As a landlord, you should never underestimate the power of “Word-Of-Mouth”. For one thing, its free, and for another, it is an excellent way of getting the word out. If you have been in the business of real estate for you, you must know how networking works, and if it hasn’t been long, then you must learn how to grown and sue your network to attain the results you need.
Let your circle know that your property is vacant, tell them to spread the word and you will soon have a list of tenants to interview.
Why would people help you, well as they will get a little something in return? Offer your friends and family gift cards or incentives that will motivate them to find you the perfect tenant. As for tenants, you can attract more people if you give them a bonus, like a month’s free rent or minimum deposit fee or even gift cards for the nearest local store, such incentives are great to attract tenants to your rental property.