Rental properties remain one of the oldest and most guaranteed ways of generating cash flow from your real estate investment.
As much as tenants need landlords and landlords need tenants, leaving a property vacant for a long time can distort the profitability of such property, thereby resulting in a bad investment.
In today’s post, we highlight 5 methods you can apply right away to find tenants for your rental properties.
1. Property Agents & Managers
Asides the fact that property agents have an existing clientele of tenants who may be interested in your property, they are also usually the first point of call when tenants are searching for new properties.
Engaging the services of property agents and managers would also help to relieve you of the bulk of work in sourcing and screening potential tenants for your property.
2. Property Listing Websites
The internet has made life easier for everyone, including investors who are searching for tenants for their properties.
Property listing websites are online platforms with the aim of connecting potential tenants with property owners. Websites like Jiji, Nigeria Property Centre, etc. will allow you to create ads for your property.
Also, they allow potential tenants to narrow down their searches to specific features. This implies that people who contact you are already very interested in your property, thereby eliminating time wastage.
3. Signage Posts
It is not unlikely that some tenants prefer to drive through neighborhoods of interest with the intention of finding a vacant property for rent.
Putting up a sign post indicating that your property is available on the market could just make all the difference.
Do you have a signage or advert with your contact details through which you want potential tenants to reach you?
Your next responsibility lies in responsiveness. Be prompt to pick up the phone and respond to emails inquiring about your property.
Interestingly, response time could be the singular reason you get to miss out on a potential tenant.
5. Property Maintenance
Before you get started with advertising, it is important to ensure that your property is in great condition.
Having a good maintenance culture helps to increase the desirability of your property, thereby reducing its vacant duration.
Finding tenants for your rental property could be a herculean task, especially if you are new to the real estate industry. Nonetheless, a good start that can give you an advantage is to find properties with high levels of desirability.
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