After declaring that your property is up for rent, you may be thinking to yourself “How do I find a tenant for my rental property?”
With my experience from working with my property management company in Vancouver, I understand that it is a struggle if you are a new landlord and if you do not have a process in place. By following these tips that I’ll give you later on, you will have a better chance at finding a tenant for your rental home.
Are you familiar with Craigslist?
The reason I asked is because the platform itself will help you find a tenant for your rental property.
By advertising on these rental websites, you have an increased chance of landing a tenant.
These sites give you a wider audience for you to find someone who is looking for the type of property that you are offering.
Always remember that posting and putting up your rental property on these websites don’t necessarily end your responsibility as the landlord. If you’d like to hear what an experienced property manager would say and to get the gist of how the whole process of property management should work, request your free consultation with a seasoned property manager here.
You should also look for a property management company in Vancouver if you do not already have one.
You will find that they are essential in helping you find a tenant for your rental property, so look around for a reputable one that specializes in your area. You can request a free quote here so you’d know how much a property management company would cost or request a free consultation to know how seasoned property managers can elevate your experience as a rental property owner.
Craigslist isn’t the only rental listing website that you can use.
You may request a full list of rental sites here.
Another great way to find tenants for your rental property is through social media.
Social media is another way to reach a larger audience. If you are a property management company in Vancouver, Whistler or wherever in Canada using social media can be as beneficial as it is for a single landlord looking to rent out their property.
You should use your company or personal social media page to promote your listing, reaching a vast audience of people looking for property in your area.
While some people find it too tedious, you can always hire someone to do it for you. There are social media managers out there who would be more than willing to help. Just keep in mind that this is just the first step of getting your property managed.
I also have noticed that using traditional methods to find a tenant for your rental property works very well.
One of the first places that you should turn to should be a local realtor.
They will often charge a brokerage fee, so you will want to look around to see which ones offer you the best terms.
You will also want to advertise in print media and on bulletin boards.
These methods still exist because it works. If you have a limited budget for advertising, focus your newspaper ads to come out on the weekend especially on Sundays.
These are the days when people are reading the newspaper more than during the rest of the week so that you will get more traffic this way.
Become a strategic landlord and maximize all resources you have! After all, that is the essence of getting your property up for rent, right?
I have also written tips on maximizing your marketing strategies for your rental property which you may also find useful.
I understand the struggle as I have been in your shoes, trying to find a tenant for your rental property may be hard if you do not know where and how to start. Using a property management company in Vancouver can be a beneficial tool to use along with these other tips if you are trying to find a tenant for your property.
As a seasoned property manager, my advice is you need to find tenants as soon as possible because you will lose money on the property if you have a long time between tenants.
It would be best if you use all of these strategies to maximize your tenant search.
If you have any additional tips you’d like to share, send us a tweet here.