Finding New Tenants when the Market is Slim

After being a landlord for a few years, most people get a feel for how to find new tenants. Every neighborhood is a little different, but there are many different avenues to get the word out about a vacancy. However, sometimes finding a new tenant isn’t as easy or fast as you’d prefer. The competition may be high, it may be a slow time of year or a simple coincidence that few people are looking when your house becomes available. While we always recommend marketing your listing online and accepting online rental applications, which streamlines the process for landlord and renter. Sometimes additional steps need to be taken when you are trying to rent in the slower season.

Stage and Take New Photos

If your rental home has been in high demand in the past, it can be easy to coast on previous listing details. However, one of the best ways to draw new attention to your unit is to take a brand new set of pictures. Take the time to do touch-ups, update the paint colors, and take a tour of photos in the best possible light for the house. Get a complete set, showing every room including the bathrooms, garage, and utility areas as well as a few angles of the kitchen.

These photos will help to enhance any listing you make for the house. Everyone wants to see a house before they make a decision, even the decision to schedule a tour. Let them count the bathrooms, see the kitchen, and imagine their furniture in the living room. Images are a powerful marketing tool, especially for rental homes because they convey the experience of living in the home.

Share Photos on Social Media

Your personal social media profile is a great place to look for local tenants. Share your listing on your personal page, and ask your friends to help you spread the word by sharing the post. Include a link to your application, and pin it to the top of your profile page. Everyone you connect with on social media will see your post, and if they need a place, or know someone who does, they have easy access to the listing and the application.

Put Out a Yard Sign

If you don’t usually put out a yard sign, you might be surprised just how effective this is. Choosing a new home is a very visceral choice, meaning many people look in person even when they could look online. They drive around the neighborhood, and a few may get excited to see that a local house is up for rent.

Word of mouth is also a great way to spread the word about your new listing. A yard sign is a great way to prompt that conversation with nearby houses and neighbors. When neighbors know that a nearby home is for sale, they are likely to pass this information on to anyone they know who is looking for a new place.

Post Local Flyers

Another great option for promoting word of mouth chatter, are flyers. Post them in popular coffee shops or gathering places near your rental. If your community has any local bulletin boards, these are also good places to advertise your rental home. College campuses, in particular, are a constant source of new tenants. Get creative about where you post your flyers with a mind for both reaching potential residents and people who know someone who might be interested.
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When your standard methods of finding a new tenant show few results, try these tips to help increase the visibility. From online platforms to offline flyers, signs, and word of mouth, during the slower months, a few extra efforts are needed to find a great renter.