The rental market is booming right now! Tenants are moving less frequently and the influx of new residents into the Branson and Hollister area is huge. Thanks to the strong market, the monthly rental rates are getting higher as well.
While properties for rent are being leased at record speeds, even now, in this hot market, there can still be times when you may have trouble finding the “right” tenant for your property. If this is the case for you, it may be time to think outside the box and consider some alternative ways to attract your next new tenants. Read on to learn some new tips on how to attract more tenants!
Go Back To The Basics
Apartment rentals are flooding the internet and people are now more inclined than ever to do the leg work and research online for their next place to call home. But even though this may be true for the majority of people, it isn’t always true for everyone.
Some individuals still do not have internet service or they prefer to go apartment hunting in person. Displaying a “FOR RENT” sign in the window - or anywhere else easily visible - is a simple and cost effective marketing strategy that will most likely reach your target demographic. If they are in the area and see the sign, then they are more likely the same person who may be interested in signing up to lease a rental in that same neighborhood.
Focus On Your Target Market
Live in a college town? Think about advertising at the campus coffee shop or bookstore. Do you own a 3 bedroom house with a fenced back yard? You are probably looking for a family to rent your property. Try asking around at some of the grocery stores or daycare centers to see if they have a community bulletin board to post your for rent ad on.
Think of who your target market is and make a list of the places that market would frequent. When marketing, it’s not only important to get the word out, but it’s equally important to know that you are getting the message out to the right group of people to ensure you’ll pique their interest.
Use Up To Date Online Platforms
Rent.com, Apartments.com, and Zillow.com are the most up to date and current online platforms that people are using to search for rentals. In order to reach the largest amount of potential renters, use these sites that have the most traffic.
Sites like Craigslist are no longer the hotspot for marketing rentals and your marketing efforts will most likely be lost in the sea of advertisements for tires and toasters.
Go Through Your Black Book
Another way how to attract new tenants ….If you have had a great tenant, whether currently or in the past, why not reach out to them to ask if they have any friends, family or colleagues who are looking for somewhere to rent?
If you have been a good landlord to them, they will most likely be happy to recommend another one of your properties to someone they know. And if they do, then for you the property owner, it will probably be a win-win. If the tenant giving the referral has proved to be a responsible tenant, then they will hopefully recommend someone of similar character to you.
Play Up The Best Features
If your rental is close to campus, put that in the ad. Is your rental home two blocks from the park with a playground? Talk about that! Whatever your best feature is, from a location or convenience aspect, try to sell that.
There are tons of 2 bedroom 2 bath apartments for rent; set yours apart from the rest of the ads by selling what makes yours special.
Whatever your best property features are - talk them up!
No matter how strong the rental market is, you always want to make sure you are getting the best tenant for your property. By using a few of these techniques on how to attract new tenants, you should be able to ensure that your property rents as quickly as possible to your choice of quality tenant.
Thousand Hills Realty is the premier property management company in the Branson and Hollister areas. If you want help attracting new tenants, call us today at (417) 337-8081 and let our marketing strategies and expertise help you get a great tenant for your rental property.