Jan 30

Ways to Find Good Tenants

There are several challenges that come with owning a rental property. One thing that all property owners face at one point or another, however, is trying to find renters for their property. There are tons of people looking for a place to live, but getting your property in front of them isn’t always easy. Knowing that you lose money every day your property is empty, you’ll undoubtedly want to get your property filled as quickly as you can. Here are three tips for finding new tenants and getting your property filled:

  1. Ask your friends- One of the best ways to find new tenants is to speak with your friends and see if they are interested. You never know when one of your friends will be looking for a new place to live and will be interested in renting your property. Even if they aren’t interested in renting the property themselves they may know of someone who is. Often times if you get a referral from one of your friends there is a good chance that it is high quality. Another way that your friends can help you is by sharing your listing on their personal social networks. Social media is a fantastic way to extend your reach and it could end up being the source for your new tenants.
  2. Ask your current tenants- If you have a good relationship with your tenants, but their lease is up and they are looking to relocate you should consider asking them. Just because your tenants are looking to move, it doesn’t mean that they didn’t have a good experience and didn’t like your property. Ask them if they know of anyone who is looking for a new place. They might just surprise you and come through with a quality lead.
  3. Use a property management agency- If you find that you are still struggling to get your tenant filled with rentals, then one of the things you should consider doing is hiring a property management agency. One of the benefits of a property management agency is that they will work hard to market your property for you. They have access to all sorts of networks and will be able to spread the word about your listing and get it full quickly. Another benefit of an experienced property management agency is that they will be able to perform a tenant screening for you to check things like employment history, credit history, and criminal background.

Remember that even though you may be eager for new tenants, you want to get someone who will be easy to work with and who will respect your lease agreement.