Target your Offer to Find Your Best Fit Tenant
Good Tenants are Out There
Landlords are reporting sketchier applicants, deteriorating credit scores, and generally more challenges in finding good tenants. That doesn’t mean they’re not out there! It’s true that while rental inventories are up, so are the number of potential applicants—and when the numbers increase, they do so at both ends of the scale. But just keep your standards high, and you’ll still be able to attract the tenants at the high end of the curve.
People are one the move right now—out of their homes and into rental property, or from a high-end rental to a lower price point. You could be well-positioned to fill your vacancy quickly, provided you do your job right.
When you’ve advertised a rental vacancy well, your phone should start ringing. In this renter’s market, people are looking around for the best deals. If you are not seeing any responses, take another look at your advertising. If you’ve targeted your best tenant and placed advertisements where he or she will see them, you will get responses.
The first task is to write a compelling and complete ad. Include basic information, but go beyond that: think in terms of what your best possible tenant wants. Is it bright, sunny rooms? A fireplace or ceiling fans? A quiet neighborhood or proximity to late-night city life? Hardwood floors or wall-to-wall carpeting? Write down every positive feature of your rental unit and include it in the ad.
Next, put the ad where your tenants are looking. Usually —but not always—that’s Craigslist. Try going beyond one ad and again, target those good tenants! A neighborhood grocery, café, fitness center, or coffee shop might allow you to post an ad. Grab attention with a great, bold headline, like
FOR RENT: Immaculate 2BR 2BA Duplex
Close to Parks and Schools
Fenced Yard and Big Windows
Walking Distance From Here!
Include the monthly rent to eliminate prospective applicants who cannot afford it. Add nice photos and include an easy way for interested folks to respond. If you are willing to work it a little more and outside where you usually advertise, you will see a better response by your best-fit tenants.