So you’ve purchased your new portland rental home, all of the calculations and analyzing have shown promising numbers and now you need to start finding tenants, great tenants to move in. But not just move in, to take care of the place too! While no one can ever be 100% sure that a tenant will treat your home as if it were theirs, there are some things you can do to increase the odds of finding the best family for your home and avoid handing the keys over to someone looking to turn your property into the next wrestle-mania location!
Marketing your home. I’ve seen many self-landlords do the minimum when it comes to locating tenants. Often times just a simple “For Rent” sign in the yard and maybe a quick post on craigslist. This find you a tenant, sure. But what you’re doing is limiting the exposure of your home. Very few people will know your home is or was ever or will ever be for rent!
*There’s an insider tip also, you’re not done searching for prospective tenants just because your home is leased*
-Flyer Box, just like realtors do when selling a home!
-MLS for Portland, contact your favorite realtor!
-Online listing sites i.e. Zillow or Trulia
-Neighbors! Let the neighbors know your home is up for rent, they may know someone who would be a great tenant!
-Local companies, notify businesses of your home for rent! Some businesses offer relocation for their employees
-Offer referral gifts
Be Effective. This one may seem obvious, but you’d be surprised how common it is for listings to leave out detailed information about the home benefits and features! Describe the surrounding the community, list top restaurants and shopping locations within a few miles of your home. All of these are important for people to know without having to go look themselves. Remember, you may have people not local to Portland that are interested in your rental home! Make sure everything is operational and works like it should, lights, garage doors, doorbell, door locks, medicine cabinets, closet doors, ceiling fans, you know what I mean. Use good photos and video! Here at ProFast property managers we utilize both HD photos and HD video walk-throughs using modern tools and styles. Again, people may be coming from out of state and are unable to see the property any other way. On top of that, having quality media greatly increases the interest and immediate desire for your home thus giving the opportunity to increase the rental rate, more income!
Here’s another common mistake, when posting to craigslist make sure you ‘update’ your post every couple of days! Every time a post is made on craigslist it pushes your post further down the page, so update your listing often and keep your home in the crosshairs of potential renters. Be sure to ad your contact info to ALL advertisements! I’ve seen it before, a great posting and all that is listed is an email, an email that is rarely checked. People need to be able to get ahold of you fast and easily! If they email you and you only check it a 8am every other morning it’s possible they could have already moved on and found a different home. This is missed opportunity and missed revenue! Add all your contact information to everything!
Additional tips. Take advantage of everything! When you hold open houses get feedback from everyone. What did they like best? What kept them from applying? What is more important to them? This can help you slash the amount of time it takes to find a great tenant. With your yard signage, add an economical solar powered outdoor yard light so people can see your advertisement even at night. Add take-away flyers so people can get quick overview of your property, these often stay on the kitchen counter or in their back seats so it’s always on their mind. You don’t want them to forget! You can also send letters to the property neighbors notifying them, giving them the option to “choose your new neighbor!”. Let them refer people to you, take advantage of everything!
Following these tips will help you find tenants for your new rental property faster, combined with our hot Portland market you are sure to have a successful tenant search and don’t forget to always talk about the great features of your new rental home! Use positive, uplifting words. Get people excited about your rental! Post on your social media pages, talk to your co-workers and family members, tell everyone around you! Here at ProFast we give you the best, we want your investment to be a success. We take care of all aspects of managing your rental property well. Although you could take on the task, it’s our sole service that we are able to focus on all day everyday. Creating systems, growing your network, and hiring quality team members helps you be more efficient and gives you more time to focus on your next goal. Let’s grow together and accomplish more!