Leaving your rental property empty for a long period of time can be very expensive for the landlord. So, when your current tenant moves out, make sure you can fill their place as soon as possible. Although the buy-to-rent market seems to be growing rapidly, it seems there are some areas where it is still difficult for tenants to find a rental property as there are often more renters than properties. But the influx of renters in your neighborhood doesn’t mean that you will be able to find a good family or individual that will take good care of your property. This means that many landlords are struggling to find a good tenant in their pursuit of filling their properties. So, here are a few good ways to make sure your next tenant will be a good one.
Social Media
Social media platforms are a great tool to both promote your property and check out potential tenants. Make sure that you advertise your property on all platforms including Twitter, Facebook, and Instagram, and join groups in your area to build a local network. Chances are there that your network has contacts that will show their interest in renting your property.
Online Advertisements
Your property can be shared with a much wider audience and you’ll end up saving much on the brokerage charges when you opt for online letting agents. Your property can’t be listed with online property portals when you’re a private landlord. On the other hand, it gets easier for you to market your property in these portals once you register with an agent online. It will certainly help you fetch potential tenants in good numbers.
Gumtree
Gumtree has a huge network and chances are there that they will check out your property very frequently. Gumtree gets your property listed with them for free. This method is truly recommended for identifying good tenants if you really wish to avoid spending more money.
Word of Mouth
This is a traditional approach to finding new tenants. However, this method holds a surprise element. You’ll never know when a tenant might turn up. Once the word is out, people staying close to your property will start spreading the information within their social circles. More often than not you’ll find someone interested in finding a rental offer within the same neighborhood. It’s even beneficial for you if you find a tenant through common references.
Letting Agent Firms
In the event you don’t find time to search for new tenants, then you should sign up with a good firm of efficient estate agents. Prior to getting registered, check out the cost involved in it.
It may not seem to be a great idea to choose the very first person who requests a tenancy. However, the risks associated with choosing a bad tenant are certainly curbed to a large extent when you run proper checks and ensure needed diligence.
You may wish to check out their previous tenancy history with the authorities. Get in touch with the office of the state authorities if you wish to acquire information on a prospective tenant. Likewise, you must also check information pertaining to your tenant in advance. You need to read through the terms of your contract carefully before signing.
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