Keeping a rental property occupied with a tenant is the easiest way to ensure a positive ROI on an investment property, as a vacant property can be costly.
So, how can a landlord or property owner find qualified tenants for their property quickly? Using effective marketing and these tips from professional Property Managers in Central Florida will help ensure a property owner's portfolio is fully occupied:
Get Moving
Current residents are typically required to give at least 30 days notice before vacating a property. Don't wait until they have fully moved out before you begin to market to new prospective renters. Sitting on a potential vacancy can cost you a significant amount of money, so don't wait.
Use Social Media
By advertising on social media sites, you can quickly get the word out that you have a property to rent. The average person checks their social media accounts almost 15 times per day! By having your listing posted, you greatly increase your chances of getting it in front of the perfect future tenant.
Keep Up With Changing Technology
The days are long gone where landlords can run an ad in the newspaper that simply states "2 bedroom, 1 bathroom house for rent. 1,800 square feet. Pool." You need to engage renters with advertisements that stand out from the competition.
Consider posting a virtual tour of rental properties so that prospective renters can see the home or apartment in its entirety without even stepping through the door. Potential tenants want to see pictures and truly get a good feel for the space. Creating engaging ads for the property that are eye catching and allow a potential tenant to picture themselves living there will help draw renters to your listing.
Use Signs
Don't forget about the tried and true technique of advertising with signs! You never know who is going to drive by your property and see the sign. Many people even keep their eyes open for family and friends who are looking to rent, and if your sign is displayed, they will likely pass on the word that they saw a great property for rent.
Add The Listing to the MLS
Make sure your rental property is on the Multiple Listing Service (MLS) to reach prospective renters and Property Managers using this tool to search for the properties. Include the best aspects of the listing are efficiently showcased so more people are interested.
Make Sure The Prospective Tenant Is Qualified
Its important to make sure that potential tenants looking to rent your property are qualified. Background and credit checks are imperative in ensuring a tenant is qualified to rent your property, as well as income verification. Typically, tenants should designate about 28-33% of their gross monthly income to pay rent. Reaching out to references and past landlords is also a great way to verify the quality of a potential tenant.
"Qualifying a Prospective Tenant is one of the most important items you can do to ensure a smooth tenancy. Always verify the applicants information and speak personally with employers and past landlords. They can give you the most up to date information on your prospective tenant. Trust, but verify!" Glenn Cowham, Professional Property Manager in Central Florida.
"I usually ask: 1. Do you have pets? If the property allows pets I continue with: if so, how many and what kind? 2. Is your household income a minimum of x (what ever 2.5 time the amount of the rent would be)? 3. What is your potential move in date? This will help determine whether they are right for your particular property up-front." Susanne HawkinsWork With A Property Manager
Keeping a property occupied and finding quality tenants can be a time consuming task and there is a lot to consider.
In working with a Property Manager, property owners can have a professional manage the task of ensuring the occupancy of their investment property providing them more free time to build a portfolio without the fear of losing money of a vacant property.
Professional Property Managers should hold experience is not only marketing a property to ensure its occupancy, but also in correctly pricing a rental property, as well as screening and finding qualified tenants to ensure the properties are filled with the right tenant - a very important piece of long term ROI increase.
Turn to our team at ERA Grizzard Real Estate for help with all of your Property Management needs -
Learn what a Professional Property Manager
in Central Florida can do for you:
**
Interested in your own
Central Florida Investment Property?
Up Next:
