One of the most common challenges for Bozeman property owners is finding a quality tenant. So much depends on renting your property to someone who will not only pay their rent each month and on time, but who will also take good care of the property. Below are five great ways you can try to find a suitable tenant for your rental property. Used together, methods like these may help you keep your vacancies short and the rental income flowing.
1. Hang a “For Rent” Sign
Even though most renters these days use the internet to search for available properties to rent, nothing can truly take the place of posting a “For Rent” sign in the yard. It is simple, inexpensive, and yet effective. A well-put-up sign can draw in prospective tenants who are looking for rental homes in specific neighborhoods or near certain amenities.
2. Rental Websites
When advertising your rental property, it is helpful to list it on various rental websites. Several studies have shown that the vast majority of renters in all age groups start their rental property search online. The more visible your property, the larger the pool of applicants.
3. Social Media
On top of rental websites, social media presence is critical to effective advertising. People spend a lot of time on social media. Having information about your available property circulating there will help you engage with them. Because social media has the significant advantage of being shareable, people will usually forward posts about available properties to people they know are looking for a new home.
4. Classified Ads
Classified ads could be an effective way to draw prospective tenants to your property, depending on your target demographic. There are many inexpensive options to advertise in, such as local newspapers, online classified ad websites, and even community bulletin boards (both physical and online). When you know where your ideal tenant goes to get information about rental homes, you can strategically place your advertisements for maximum visibility.
5. Word of Mouth
Advertising professionals know that few modes of advertising are as effective as word of mouth. Once you have a property available for rent, you should tell people about it. Friends, family members, neighbors, and fellow property investors can all be beneficial in spreading the word. Prepare some flyers and give them to people you meet wherever you go. If you like, you can also offer a referral fee for an added incentive. A network of personal contacts and consistent engagement with the public can be the key to finding your next great tenant.
At Real Property Management Bozeman, we take care of advertising and leasing rentals for you. Call us at 406-586-2226 or contact us online to discuss strategies we implement in our rental property management plans!
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