Find More Renters with These Four Simple Tools

January 17, 2017

Looking for Tenants? Here's How to Find More Renters

Your strategy may be missing something. Luckily, we've outlined a great starting point for anyone hoping to find a great fit for your property.

Looking for new renters is always a stressful part of owning rental property. Vacant apartments don't pay taxes and other expenses, which is more than likely the exact opposite of why you bought your rental property to begin with.

 

Because it's so important to rent your apartments as quickly as possible, you need to be exploring every option for advertising and branching into as many markets as possible.

 

Devising strategies for these new markets isn't overly difficult. But it certainly helps to have some guidance.

We're here to show you four crucial steps to make your tenant search easier.

 

Looking For Tenants Tip #1: Build A Website

 

Every property manager serious about turning their investment into long term wealth should treat rentals like a business. And every business needs a web presence.

 

In fact, studies show that 85 percent of consumers use the Internet to find local businesses.

Capitalize on these active consumers by building a website that endears yourself, and your brand, to potential renters.

 

A Boston Consulting Group study found that authenticity was among the main factors in attracting consumers, and the second most important factor in attracting millennials.

 

Renters who connect with your message are more likely to seriously consider your properties, as well as find you more trustworthy.

 

#2: Use Mobile Apps

 

It's nearly impossible to find a better advertising medium than smartphones. Every day 207 million people use the tiny devices for up to 3 hours on average.

 

What's more, 85 percent of those 3 hours are spent using mobile applications. The sheer amount of time spent using mobile apps makes renting applications invaluable.

 

Apps like Trulia Rentals allow landlords to list their rentals and easily connect with tenants. Tenants send a rental resume through the app, which you're then able to quickly view and vet for qualifications.

 

Other apps like Craiglist offer the same listing functionality, but less protection from subpar tenants. This doesn't mean Craigslist isn't viable, but only that you'll need to keep a watchful eye towards suspect applicants.

 

#3: Be Amicable With Tenants

 

In short, people talk.  Word of mouth always plays a role when tenants are apartment hunting. Landlords with a bad reputation are less likely to fill their vacancies.

 

Put yourself in your tenant's shoes before making decisions. Rash decisions and acting unreasonably are a surefire way to ruin your reputation.

 

An apartment or other property that is in poor condition is another black mark on many landlord's reputations.

 

Ensure your properties are in excellent condition. Keep your heating and cooling systems running, respond to maintenance requests promptly, and never surrender the keys before everything is spotless.

 

#4: Price Matters

 

It's no secret that your goal is generating wealth from your rental properties. Tenants know and accept this. However, price gouging will ruin your reputation and keep potential renters away.

 

Renters know the market and know what prices are fair. Remember that you're as privileged to have tenants are they are to rent your apartment.

 

Successfully looking for tenants takes a combination of good reputation and strong presence across multiple mediums. Look to cultivate your rental company's image whenever possible.

 

Stick to our list and you'll have no shortage of applications on your desk.

 

If you have any questions about the rental market in the Charlotte area, get in touch with us. We're always happy to help out fellow landlords and tenants alike.

 

There are a lot of facets to finding a property management company that fits your needs. Check out our free checklist for potential property management companies:

 

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