Top 5 Ways to Find Quality Tenants for your St George Real Estate Investment
When responsible renters are looking for a great new place to live, they need to be able to find you and your property. If your St George real estate investment is visible and accessible for those trying to find it, you have a better chance of getting great quality tenants that will pay rent on time and take good care of your property while they live there. These five tips will bring a wider pool of renters to you and your rental property, providing you the best tenants to choose from.
1. Social Media
Advertising through social media is one of the smartest things a real estate investor or landlord can do. Many people get basically all of their news and community interaction from social media sites and apps. It is a great idea to create a Facebook or twitter page for your rental company, or just post simple ads for what you have available on your personal pages. You can even use hashtags that are relevant to your community or to the features of the property itself. On social media, you will mostly be visible to people you know and respect, and then possible other people that your friends know and respect. This network can facilitate the likelihood that a tenant will be responsible, as they know some of the same people that you do socially. A renter that finds you through social media is also usually easy to verify as far as income and stability. Your St George real estate investment property will probably have a better chance of being well taken care of if it is rented by someone that is within your community circle.
2. “For Rent” Sign
Landlords or property owners sometimes make the mistake of posting ads on every possible online or print medium, and forget the simple power of a “For Rent” sign at their property. Even as the world moves to more and more digital advertising and communication, many people still like to drive through their desired neighborhood to look for anything available to rent. A quick drive-by offers up-close views and helps renters to envision day-to-day life at their new apartment, condo, or house. They may be able to check out who lives near by, talk to neighbors, scope parking space and number of stairs, little details that will make them feel comfortable about making the rental property their home. If you don’t have a “For Rent” sign up in the window or on the lawn of your St George real estate investment property, you are missing out on drive by traffic that could lead great renters right to you.
3. Offer Incentives
Another great way to fill your St George real estate investment property with excellent tenants is to offer referral incentives to your current tenants that you trust. Let your tenants know that you have property available. If you have a good relationship with them, they will be happy to tell their friends and family to rent from you. Offer fliers they can give to anyone that is interested, to make things as easy as possible for them. You can offer a discount on the next month’s rent for a tenant, once a referral meets the application requirement, signs a lease, and pays their deposit. You can also offer new renters an incentive in your ads, such as a flat screen TV or gift card for renting by a certain date. The price of these items is easily compensated by getting the full rent for your property promptly, with no gaps. These purchases may also be possible to write off on your property taxes.
4. Respond promptly
If you are trying to get a property filled quickly, it is of utmost importance to always be available by phone and email, and even text, to respond to interested renters. If you don’t answer for a day or two, the potential may have moved on to signing a lease on another St George real estate investment property. You will want to treat your rental investment income like a real job. It likely won’t take as much time as many full-time jobs, but your availability must be at that level to be the kind of landlord that people trust and rely on. Part of this availability is having plenty of opportunities for people to see the apartment. Be sure when an apartment opens up, to get it clean and touched up as needed immediately. You can publicize time slots for open houses, or take viewing appointments on a case by case basis, but just be available for renters to look at the apartment while they are excited and motivated to sign the lease.
5. Rental websites
Make sure your ad is professional, accurate, and complete. Include all relevant information including: number of bedrooms and bathrooms, pet and smoking policies, available parking, price, lease length, application process requirements, and plenty of good quality photos. When potential renters call you, they will still have plenty of questions, and will likely ask about things that you have listed, but at least the information is there and everything is transparent. If you only include a one-liner about your “cozy apartment for rent,” many prospective tenants will pass you by thinking you are a scam or just a risky person to deal with. You want you and your St George real estate investment to be presented in the best light possible. Tenants looking for someone to rip off will lean toward ads and landlords that don’t seem to know what they are doing. If you appear experienced and trustworthy, you are more likely to get trustworthy tenants.