You find yourself with a property to rent. Maybe you've moved into a new home, and have decided to rent out your old one. Or maybe you've purchased a condo, or completed a basement suite in your home, solely for the purpose of getting that extra rental income. How do you go about getting suitable tenants?
The ad that you place must be well written and informative, in order to have the best prospective renters to notice it. Have a lot of details about the property in the ad. Use language that will create an emotion. There are typical details that need to be included, like if laundry is available, parking, the size and amount of bedrooms and bathrooms in the unit, which pets are allowed, and so on. This will save you a lot of unnecessary phone calls.
Photos are very helpful, use them wherever you can. When there are no pictures, most people don't take the ad seriously. Don't forget to include your contact information: name, phone number, email address. Your possible tenant should be provided with a simple contact method.
Put your advertisement on the market
Have a few places in mind to advertise your rental, don't count on one. But also consider your target market. People who are looking to rent a small basement suite will not always be looking where mostly more expensive rentals are places.
CraigsList: Advertising through online sites, such as Craigslist, will reach a broad audience, and it's free. The simple layout on websites like these helps to make it accessible to virtually everyone, so your future tenants can find you with no troubles. It's best to use several colour pictures; 1 of the outside of the building, 3 of the inside. Some rentals may have a nice view behind it, be sure to get that in the photo. That will get people to really notice the ad.
It makes sense to let friends know about your rental suite on social media sites like Twitter and Facebook, as a friend may make a good recommendation.
Some people use the time-tested method of putting a sign in their front window advertising the rental, as this can still be effective. Your sign could be seen by a person who is visiting the area and is considering moving, or someone could let their friend know that your suite is available, and you can find a tenant that way. The more information you can include on the sign, the better, such as: number of bedrooms and bathrooms, monthly rent, and the move in date. When the details are available, people won't bother you with telephone calls as much. The phone number to contact you should be in larger letters, so that a person out on the street can still read it easily.
Finding tenants can sometimes be as simple as telling some friends and family, and word of mouth can do the rest. Acquaintances sometimes have knowledge of people that are moving into your part of town.
Local bulletin boards: Put up a sign, or flyer, at your neighborhood community centre, grocery store, or library. Put your contact information at the bottom of your flyer using tear offs, and add colour pictures that make the ad and rental unit more appealing to potential tenants.
It's important to find the right balance between renting your suite fast, and finding a responsible tenant. You want tenants who are responsible, pay their rent on time, and will take care of your property as if it was their own. See evaluating and selecting tenants.
The ad that you place must be well written and informative, in order to have the best prospective renters to notice it. Have a lot of details about the property in the ad. Use language that will create an emotion. There are typical details that need to be included, like if laundry is available, parking, the size and amount of bedrooms and bathrooms in the unit, which pets are allowed, and so on. This will save you a lot of unnecessary phone calls.
Photos are very helpful, use them wherever you can. When there are no pictures, most people don't take the ad seriously. Don't forget to include your contact information: name, phone number, email address. Your possible tenant should be provided with a simple contact method.
Put your advertisement on the market
Have a few places in mind to advertise your rental, don't count on one. But also consider your target market. People who are looking to rent a small basement suite will not always be looking where mostly more expensive rentals are places.
CraigsList: Advertising through online sites, such as Craigslist, will reach a broad audience, and it's free. The simple layout on websites like these helps to make it accessible to virtually everyone, so your future tenants can find you with no troubles. It's best to use several colour pictures; 1 of the outside of the building, 3 of the inside. Some rentals may have a nice view behind it, be sure to get that in the photo. That will get people to really notice the ad.
It makes sense to let friends know about your rental suite on social media sites like Twitter and Facebook, as a friend may make a good recommendation.
Some people use the time-tested method of putting a sign in their front window advertising the rental, as this can still be effective. Your sign could be seen by a person who is visiting the area and is considering moving, or someone could let their friend know that your suite is available, and you can find a tenant that way. The more information you can include on the sign, the better, such as: number of bedrooms and bathrooms, monthly rent, and the move in date. When the details are available, people won't bother you with telephone calls as much. The phone number to contact you should be in larger letters, so that a person out on the street can still read it easily.
Finding tenants can sometimes be as simple as telling some friends and family, and word of mouth can do the rest. Acquaintances sometimes have knowledge of people that are moving into your part of town.
Local bulletin boards: Put up a sign, or flyer, at your neighborhood community centre, grocery store, or library. Put your contact information at the bottom of your flyer using tear offs, and add colour pictures that make the ad and rental unit more appealing to potential tenants.
It's important to find the right balance between renting your suite fast, and finding a responsible tenant. You want tenants who are responsible, pay their rent on time, and will take care of your property as if it was their own. See evaluating and selecting tenants.
About the Author:
If you want to know more about Surrey home insurance, or if you're renting visit www.squareoneinsurance.ca.
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