About 6 percent of all rental properties in the U.S. are empty. When you cannot find renters, you must still pay all of the bills at your investment property. Devising a strategy to rent your investment property is key to success.
You can do several things to find renters, including advertising, creating a rental unit, and listing amenities. A few simple steps can keep your rental property occupied in no time!
Check out these six ways to find renters quickly in Colorado Springs, CO!
Rental listing sites online are plentiful in Colorado Springs, CO. Also, consider flyers at colleges, local newspapers, and newsletters. In addition, think about advertising on social media; roughly seven in ten Americans use these sites, which means plenty of exposure to potential renters.
Please list any pertinent information on these rental listing sites, including rental unit prices. Advertising costs are tax-deductible and will only cost you a small portion of your budget.
2. Create a Rental Unit
Think about creating a rental unit at your investment property. Hire a designer to fill it with furniture and artwork. The goal is to get tenants to visualize themselves living in your rental property!
Use photographs of your rental unit on rental listing sites. Allow it to double as office space for tenant leads in Colorado Springs, CO.
3. List Amenities
Electric vehicle charges, great school systems, and public transportation access are all things people tell during the rental process. Also, be sure to list workout facilities and even common areas that may appeal to tenants.
People may choose you over someone else because of what your rental listing sites offer during the rental process. Moreover, be sure to let tenants know they can always give feedback.
Give rent coupons to your current tenants if they help you find renters. For example, if your current tenant gives you a tenant lead and they move in, give them a $100 rent coupon.
It may give your current tenants more incentive to stay!
5. 'Sell' the Property
During the rental process, many tenants want to meet the property manager or the owner. Renters want peace of mind knowing that if there's a problem, there's somewhere to go.
Walk around the property, and show people why your future tenants want to call your investment property home.
6. Hire a Property Manager
Hiring a property manager will take care of many of these services without the heavy lifting.
A property manager acts as your representative for your investment property. They work tirelessly to advertise, screen tenants, and rent your property.
Six Tips to Find Renters for Your Investment Property
Six Tips to find renters at your investment properties include advertising, creating a rental unit, and listing any amenities. Also, reward current tenants for referrals, and give prospective tenants a great sales pitch. You should also think about hiring a property manager.
Tenant turnover costs you money! Act fast to fill units with great, qualified tenants.
Contact us today about renting a unit or property management. We can help you get a unit rented quickly!