The first quarter of 2021 saw a national vacancy rate of almost seven percent in rental housing. Rental vacancies equal lost income opportunities for landlords.
Are you a landlord? Do you know how to find good tenants when your rental is vacant?
Keep reading for four tips on how to find tenants for your rental property.
1. Social Media
Your first thought might not be social media when it's time to advertise your rental. Facebook has almost two billion active daily users!
Create a Facebook page for your rental property or properties. You can post your available properties in the Facebook Marketplace. Post photos and other information about the rental.
You can answer questions and post status updates about the property, such as recent renovations. The best thing? It's free!
Twitter and Instagram are two other popular social media platforms with lots of users. Create an account for each and let your followers know you've got a beautiful, up-to-date property for rent.
2. The Power of Local Public Bulletin Boards
Check out local businesses and see if they have a bulletin board. Lots of renters check these boards for local rentals. Some common places to find bulletin boards include:
- Grocery stores
- Churches
- Community centers
- Laundromats
- Bus stops
Make sure you use tear-offs on your flyer so people don't have to stop and write down your number. They simply tear off one of the strips with your number on it.
On the flyer itself, use a few color photos along with a bold headline. Add bullet points to highlight the best features. Mention price, location, and the number of bedrooms and baths in the rental.
3. Rental Websites
Most things are done online these days. There are a plethora of rental websites where you can advertise a vacancy. They're not all free but some of them are.
Some sites that offer free postings include:
- Zillow Rental Manager
- Craigslist
- Socialserve.com
- Cozy
- Avail
When you post to Zillow, your ad also goes to several other websites. Socialserve.com is great if you want to reach people using subsidized housing. Avail helps with rent collection and lease signing.
All you have to do to use the sites is create an account.
4. A Property Management Company
Getting great tenants is a job in itself. Between maintenance and tenants, rental property is a lot of work. If you don't have time to do it yourself, hire an experienced property management company.
The people at a property management company not only know how to find tenants in Las Vegas, but they also have a screening process. They'll ensure you get good tenants who pay rent on time.
A full-service management company handles maintenance, inspections, and even accounting services.
How to Find Tenants for a Vacant Rental Property
Now you know how to find tenants for a vacant rental property! it takes some time and effort but you can fill your rental as long as you price it right.
Are you ready to let someone else take over your investment property? Let Avalon Realty and Oaktree Management take the stress of finding tenants for your property off your hands! Contact us today!
Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.