If you own rental property(ies), your first priority is typically ensuring that your unit(s) are leased so that they are producing an ongoing income stream. Otherwise, you could soon be in the red.
But just simply attracting any tenant could oftentimes end up doing more harm than good – particularly if they don’t pay their rent on time…or at all. Or, if the tenant(s) ends up damaging the property and / or the contents that belong to you (such as the appliances).
So, how exactly can you locate the right tenants and quickly attract them to your rental property?
There are actually several methods for doing so. First and foremost, it is important that you lay out your tenant criteria long before you place the first “vacancy” ad. For instance, is your property geared more towards families, or is it instead the type of unit that may appeal more to a single individual. (When narrowing down your target market, be careful that you stay within the Fair Housing laws.)
Next, compose a listing that would be attractive to your ideal tenant. This should include starting with a compelling headline, and then continuing with detailed information about what your property has to offer.
As an example, is the unit furnished? Are there laundry facilities in the individual unit or home, or in the community? Is the property close to schools, churches, grocery stores, and / or other places of interest?
In your listing, it is also imperative that you include good quality photos. Today, a large majority of people looking for rental housing will begin their search on the Internet. So, having clear pictures that allow a potential tenant to imagine themselves living in the property can literally make or break your listing.
While marketing your rental unit(s) may be somewhat time consuming, going about it the right way can make a world of difference. In order to ease up on your own time, though, you could turn over the marketing – as well as managing and maintaining – your investment properties to an experienced, local property manager.
Want more information on how a property management team in Orlando / Central Florida can keep your rental(s) running smoothly? Just Contact Us for additional details.