Finding a Tenant
Every landlord wants to find the ideal tenant — the tenant who always pays the rent on time, doesn’t cause disturbances, doesn’t complain or cause conflicts and keeps the unit in better condition than when they moved in. Now, while finding this ideal tenant may be unattainable, you can attract the most suitable tenant by the way you maintain and market your property.
To effectively market your property, you must differentiate your property from the others. When you are in a tight rental market, advertising may not be as critical, however, when there are many places to choose from, you need to let potential renters know why your place is better than the other units available. Ask the questions: Is it newer, bigger, cheaper, cleaner or safer than comparable units in the area? is transit close by? and what amenities does it have for the price?
your marketing strategy will increase your chances of attracting the best tenant for your particular property and the more clearly you represent the benefits and features of your property, the greater the chances of attracting appropriate tenants.
Where to advertise your rental property
Usually the most popular way to seek for a place to rent is to go online. For the same reason it is the most effective and cost-efficient way to advertise your rental property. If for some reason this does not work you can also advertise:
Place a for rent sign at the rental property. (As long as strata bylaws permit)
Advertise in local newspapers, the classifieds and publications that list rental accommodations.
If you are interested in attracting students, advertise on school campus.
Post flyers on bulletin boards, which can be located at libraries, community centers, grocery stores, and places of worship.
By word of mouth. Talk to friends and family members; Let them know that you are looking for tenants.
Internet mail lists
electronic bulletin boards
apartment listing web sites
web sites of local newspapers (classifieds section)
Consider the profile of the people you are trying to reach out to and then advertise in the places where they would be most likely look for a rental property. For example, someone trying to rent a 400 square foot studio apartment will have a different market than someone trying to rent a luxury penthouse apartment with stunning views.
If you are not sure where people look for rentals, ask! talk to people in the same demographic as prospective tenants.
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