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Expert
Landlord Tips and Tricks
Finding Tenants and Attracting Renters PART 1
Are
you looking for the best landlord tips
and tricks on finding tenants for your rental property? Then read on as
we reveal the tried and tested ways of attracting tenants and finding
renters right now.
Method
1: Advertise Your Property to People Who are Driving or Passing By
Putting
up a "For Rent" or "Vacant" sign to advertise your property to
passer-bys has been proven to be a highly effective way of finding
tenants. Recent studies in U.S. and the U.K. have shown that almost 50%
of tenants are found using this very method.
Because it is so
cheap and easy, this method of finding renters is one that you simply
cannot afford to pass up. Some landlords refuse to put up these signs
because they feel that doing so will invite burglars and vandals
to their property. However the chance of crooks visiting your property
is rare unless your property is left vacant for a long period.
When
you are using these signs, there are a few landlord tips and tricks
that you should know. Firstly make sure that you
proudly display
your sign in a highly visible location.
If you are lucky
enough to own real estate where there is heavy human or vehicle
traffic, you can simply leave your sign in front of your property. If
your property is lacks passer-by traffic, you can try attracting
tenants by putting up signs on the
nearby main roads with your unit number and arrows
Other
than the location, the look and feel of your signs will also play an
important role in attracting tenants to your property. Having a
sloppy and hasty sign will give any potential tenants a bad first
impression before they even step onto your property.
When it
comes to signs for finding renters, always make sure that they
are short
and highly readable. To make this happen, print your signs in black
text on a white or pale background and ensure that you use standard
fonts such as Arial, Helvetica, Courier, Times New Roman or Verdana.
Since some
people will driving past your signs, they will only have a
few seconds to steal a quick glance at your sign before moving on.
Important landlord tips and tricks include limiting your sign to 6
words or less. Popular eye-catching
words for attracting tenants include, "For Rent", "Vacant" and
"Available Soon". Make
120% sure that your contact number is clearly included in your sign.
Method
2: Word of Mouth Recommendation from the Neighbors and Friends
Word
of mouth recommendation is one of the most overlooked landlord tips and
tricks for finding tenants. Most landlords are surprised to learn
that 10 to 20% of tenants are being netted this way.
On top of
that, recommendations from others are free and it takes little effort
to spread the word to your neighbours and friends. It is highly
recommended that you let them know in advance because it usually takes
some time for the news of your vacant property to spread.
If you
are the landlord of a multiplex and one of units will soon be available
for rent, let the other tenants living on your property know. As they
have a vested interest in who their future neighbours will be, they
will usually be more active in promoting your property to
their own circle of friends and finding tenants for you.
For the exact same reason, inform
your neighbours that you are finding renters so that they can
do some free word of mouth advertising for you.
Although your
friends and family will usually account for a smaller stream of these
recommendations, it never hurts to let them know that you have a vacant
property up for rent. Because it is much easier and convenient to chat
with them, you can casually mention the matter to them in your daily
conversations.
Want to learn
EVEN more proven landlord tips and tricks for finding renters and
attracting tenants?
Return from
this Landlord Tips and Tricks page to our Finding Tenants guide
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