I’m a newer broker in Chicago and I’m thinking about doing rentals for a bit. I’m curious what strategies others are using to find leads looking to lease.
Get with agents in your office who work with owners. They'd probably be glad to give you all their lease leads even with no referral fees.
#2 go find the busy property managers. I know many in my area never want to work the tenant leads, so maybe you can answer the phone for them, or have press #2 if you are a tenant, go directly to your cell phone.
To add to @Bruce Lynn 's comment.
Here is a gem for you.
1.) Go on Redfin or zillow,
2.) Search for multifamily properties sold in your area of interest in the past 3 months,( A+ to B+ area or A to B building)
3.) Search and skip county records for new owner - investor or reach out to the listing agent .
4.) You can stop here if you want to work with listing agents and have them refer you to their clients . OR Proceed to 5
5.) Reach out to new owner and find out how motivated they are.
6.) REIs ( Real estate investors) are easy to sell if you can provide value. Put on your selling shoes and educate them on how they can focus on finding deals in today's demanding market instead of chasing tenants or fixing broken pipes.
7.) Put together a packet that outlines the benefits of going with your property management .
8.) Email to client and follow up twice a week
9.) rinse and repeat.
@Jade Azimi - How come you are thinking about doing rentals instead of traditional sales? Are you hoping to work with investors or homeowners?
There are a handful of companies here in Chicago that only do rental listings - I'd find one of them and work at their brokerage.