If you are sitting on an empty property, the loss of rental income can add up quickly. There are a few things that you can do to quickly find a good tenant to fill your vacancy. Here are some tips of finding a tenant fast.
Do Better Marketing
The first problem that you may be facing is a lack of good marketing. Don't be afraid to invest in professional photography and wording for your rental ads. It may also come down to the channels you're using to market. Consider using a variety of social media, online classifieds, and local newspaper classifieds.
Become a Value Sleuth
You may also want to get some intel about how people in your area are pricing their rental properties and what they are offering in return. You can attend some property open houses to see what kinds of amenities and condition other rental properties have at your price point. You might need to consider lowering your own price, or adding a valuable amenity such as a washer and dryer or a privacy fence.
Throw an Open House
Throwing an open house can be a useful activity as well, since these low-pressure events might just attract people who are intimidated by the idea of meeting one-on-one with a leasing agent. By showing the property in bulk at an open house, you can attain a wider audience that will put the odds in your favor for finding the right tenant.
Hire a Property Management Team
There are a few reasons why a property management company can be very effective to renting a property quickly. They have an entire team of marketing and sales professionals to use when finding and securing potential tenants. They also may inspire more trust in a potential renter, since the renter can easily check the reviews and reputation of the company to make sure they will be taken care of as a tenant. A property manager also has a lot of experience in dealing with tenants and playing to their needs, so they may be very persuasive in sealing the deal on a lease. Property managers, such as Carefree Property Management Inc, can be hired to simply help fill your rental vacancies or to take on more of the responsibilities in managing the tenant agreement.
In short, there are several things that you can do to speed up the process of finding tenants, from do-it-yourself marketing to hiring outside help. Renting out a property quickly may require you to invest a few more dollars, but it can save you a lot compared to maintaining an empty rental property.