Rental properties can pay for themselves if the property owner knows how to get the property rented quickly. The property will cost money if it is left sitting vacant for long time. While it is important to get the property rented so you will begin to get an income, this does not mean you should rent without first checking references and credit.
Unfortunately, there are renters who will not pay you on time or at all so do not let the thought of a quick rent of the home allow you to go against your better judgment. The following ideas should help you to be on the way to renting your property in record time.
Appearance of the Rental Property
First things first – make sure your rental property is clean and free of debris. The inside of the home as well as the outside should be attractive. Take a look at your rental property from the street. If you were looking for a rental would you be interested in seeing this property?
Is the paint peeling? Are there any broken windows? Does the lawn look inviting or does it need mowing? If the home does not look like a home you would like to see more of, then chances are no one else will either. Make repairs and paint if needed to make sure the rental property is as attractive as possible.
Where Should You List Your Property?
One of the best places you will find to list rentals is Craig’s List. Place an ad here and your phone will be ringing off the hook. Thousands of people per day peruse Craig’s List looking for rentals. The contact can be email if you prefer so that you may call them back at your leisure instead of spending the whole day answering the telephone. Because rest assured, if you list a phone number you will be getting calls for days. This is definitely one of the most effective methods you will have when it comes to placing advertisements for rentals.
Newspaper advertisements are another place that will get your rental property maximum exposure. The newspaper has long been one of the most popular places to advertise rentals. Naturally this is one of the first places people look when searching for a home to rent. Placing an ad here will get results most likely on the first day your advertisement appears.
Your local housing authority is another option if the property you have is Section 8 qualified. Listing here is almost guaranteed to have your property occupied in a very short time. There is a waiting list for this type of property. An advantage to this is also the applicants are screened carefully and must abide by certain rules to keep their Section 8 status. The worries about receiving your rent monies are not as prevalent as with other renters.
Posting Flyers is another Option
The local bulletin boards at your grocery store, convenience store and laundromats are another option. This has become a way of finding rentals for many people. They peruse the bulletin boards and look for something in their neighborhood. Church bulletin boards are also a good place for flyers.
When making a flyer, try to get the pertinent information as much as possible onto the flyer. This will eliminate calls from people that are looking for something smaller or larger, cheaper, in another area and who may have pets, if you are not accepting them. The price should definitely be included as well as the security deposit. The number of bedrooms and bathrooms, if there is a garage or yard and general location of the property you are renting should be part of the information.
Networking – Better Known as Word of Mouth
There is no better advertisement for anything than word of mouth. This is true of basically any type of advertisement. When it comes to getting the word out about rental property tell your friends, acquaintances, family and co-workers. They will undoubtedly know someone who is looking for a rental. This can produce many leads when you want to rent your property quickly.
Just remember when renting your property, take precautions to keep from becoming entangled in one of the huge renter’s nightmares of which everyone has heard or been involved. Unfortunately, there are people who will seem like the best tenants you could ever want and they will destroy your property and not pay rent. So taking the right steps to protect your investment will be the first order of business in having a productive rental property and keep you from losing money.
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