What Is The Best Way To Find Tenants?

General Landlording & Rental Properties

What Is The Best Way To Find Tenants?

Lonsdale, MN · Member since 2017 · 29 posts · 8 votes

Hello fellow Bigger Pockets members, I am a beginning investor in Minnesota and I will soon be in need of new tenants as I have a vacancy opening up due to Eviction of current tenants. What does everyone use to find tenants? Are there any websites that you would suggest I advertise the space on? The space is one side / one unit, of a Duplex - Is there a name for this type of space / property (since it's technically not an 'apartment')? What about tenant screening and background checks - Thoughts & Opinions & Referrals & Websites? What about a form for an Tenant Application? Should I charge for the Application? Is there anything that I can do to make my property get more attention and to attract better, higher-quality tenants? Please let me know what you guys think - I appreciate the advice and sharing of knowledge! Thanks.

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Real Estate Broker · Hugo, MN · Member since 2016 · 688 posts · 596 votes

8y

I do caution on taking referrals from tenants, sometimes it is not a good thing as if they are friends or family they can tend to think they have a lot of control since they now occupy they entire duplex. Just something to be aware of. One of the better sources is neighbors, very often a sign in the yard will get a neighbor to call his buddy, or family so they can live close by. For apartments with 30+ units and class A properties it differs, but most times Zillow and Cl work just fine for smaller units. Also for class B/C properties I would schedule a time time block to show the property and schedule as many as you can into the time block (maybe 2 hours). Just pick a time that the majority of people can make. Often people will be no shows and waste your time. Doing a two hour block makes it worth your time and creates a sense of value and urgency for them to quickly fill out an application.

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Andrew Kerr
Rental Property Investor · Everywhere, USA · Member since 2012 · 689 posts · 525 votes
8y
@Kyle Baron post it on Zillow & Trulia. Then you can also post on craigslist. Those basically do it for me.
1 Reply
Joseph Hammel
Rental Property Investor · Lake Hallie, WI · Member since 2015 · 292 posts · 144 votes
8y
I agree with @Kyle Baron on Zillow. Note. Start with Zillow and it automatically goes on Trulia and hot pads. (Zillow owns them) CL gets me leads as well. I do have one property that I went to FB on as well but you get a lot of ppl that aren't very serious on there. As far as calling it a duplex or apartment just explain in the body of the ad. Regarding the screening I've been using buidium but it's a little spendy for just that. You can use the services by themselves. Google TransUnion smart move. I think it's 30 per person. Personally all I charge is whatever the BG check costs. Attracting better tenants is a formula. Nice place = nice tenant. If you want to pm me I can send you an app that I've used.
3 Reply
James W.
Minneapolis, MN · Member since 2017 · 353 posts · 223 votes
8y
I usually just post on zillow and craigslist but may try the facebook marketplace next time too.
1 Reply
Phillip Dwyer
Real Estate Agent · Henderson, NV · Member since 2011 · 1k+ posts · 550 votes
8y
Know your target market. Give your other tenants incentives for referring you quality tenants. Try a sign in the yard. Tell everyone you know. Hire a real estate agent or property manager.
0 Reply
Amber Gonion
Real Estate Broker · Hugo, MN · Member since 2016 · 688 posts · 596 votes
8y
I do caution on taking referrals from tenants, sometimes it is not a good thing as if they are friends or family they can tend to think they have a lot of control since they now occupy they entire duplex. Just something to be aware of. One of the better sources is neighbors, very often a sign in the yard will get a neighbor to call his buddy, or family so they can live close by. For apartments with 30+ units and class A properties it differs, but most times Zillow and Cl work just fine for smaller units. Also for class B/C properties I would schedule a time time block to show the property and schedule as many as you can into the time block (maybe 2 hours). Just pick a time that the majority of people can make. Often people will be no shows and waste your time. Doing a two hour block makes it worth your time and creates a sense of value and urgency for them to quickly fill out an application.
3 Reply
Michael Tempel
Property Manager · Minneapolis, MN · Member since 2014 · 380 posts · 167 votes
8y
Zillow, Craiglist and often your PM software will automatically syndicate out to around 70 sites like Hotpads etc.
For larger ILS's we use Rentpath, Apartments.com and Zillow (paid option) right now.   If you don't have a lot of units or MF, the first three above work best.
I do have one manager that is extremely effective on Facebook, can literally get 15-20 responses going in an hour, works great for our SF homes, but you have to be responsive and able to actively message back.
We also always offer a $150.00 or more referral to residents.   Making your residents "Raving Fans" by providing great service will bring you a lot of business on the backend.
0 Reply
Joshua D.
Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
8y
FACEBOOK!!!
Nuff said...
0 Reply
John Woodrich
Flipper/Rehabber · Minneapolis, MN · Member since 2016 · 1k+ posts · 1k+ votes
8y
You have enough advice above but we also have had good success on local facebook groups.
0 Reply
Nick Kaihoi
Stacy, MN · Member since 2018 · 14 posts · 7 votes
8y
For SFRs, I have had excellent results with Open Houses. Granted, it's more work, but you get an idea of the potential tenants prior to even receiving an application. I think of it as adding work on the front so there is less risk later.
As others have said, FB, CL, Zillow, etc are all excellent options. Also, it's worth checking out online services for the application process as well as credit and background checks.
0 Reply
Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
Use a great PM to do it for you
0 Reply
Kyle Baron
OP
Lonsdale, MN · Member since 2017 · 29 posts · 8 votes
8y
@Amber Gonion, do you know of any ways that I could use to find out what Class my Property is? What exactly does 'Class' mean - Just the overall quality of the property? What determines Class?
0 Reply
Kyle Baron
OP
Lonsdale, MN · Member since 2017 · 29 posts · 8 votes
8y
Does anyone know of any Property Managers in the Greater Twin Cities Metro area of Minneapolis? Any referrals or tags you can use? Also, what do you guys use or suggest for an application? I could Google 'Tenant Application' or 'Renter Application', but I would rather see what other people are doing and what works, than just trust what Google feeds me from my own (in)experience!
0 Reply
Tim SwierczekPro Member
Lender · White Bear Township, MN · Member since 2016 · 1k+ posts · 1k+ votes
8y
@Kyle Baron @Amber Gonion &
@Michael Tempel 's advice is spot on. Finding tenants is only half the battle, screening, lease and other policies are all important. I highly recommend you contact Amber about her LL class it will go into detail on all of this.
1 Reply
Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
8y
Facebook Marketplace has worked really well for me along with Zillow and Craigslist.
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0 Reply
John Woodrich
Flipper/Rehabber · Minneapolis, MN · Member since 2016 · 1k+ posts · 1k+ votes
8y
I would second talking to @Amber Gonion, they can help educate you or take over tenant placement or management.
0 Reply
Todd Dexheimer
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
8y
Originally posted by @Kyle Baron:

Does anyone know of any Property Managers in the Greater Twin Cities Metro area of Minneapolis? Any referrals or tags you can use? Also, what do you guys use or suggest for an application? I could Google 'Tenant Application' or 'Renter Application', but I would rather see what other people are doing and what works, than just trust what Google feeds me from my own (in)experience!
Rental property management guys (Scott Ficek) and VSM
0 Reply
Amber Gonion
Real Estate Broker · Hugo, MN · Member since 2016 · 688 posts · 596 votes
8y
@Kyle Baron property classes are flexible, but in general are as follows
Class A properties
Less than 15 years old
Professionally managed
Little or no deferred maintenance
Demand the highest rents upper class income.
Class B properties
15-30 years old
Step down from Class A
Lower rents middle class families
Some deferred maintenance
Class C properties
More than 30 years old
Located in less desirable areas
Lowest of rents
Usually maintenance issues that need attention
Class D properties
Really bad areas
High vacancy
Rehab needed
0 Reply
Jenifer Kynor
Fort Collins, CO · Member since 2017 · 273 posts · 91 votes
8y
HI Kyle,
I personally would be posting on all of the large listing sites; Zillow, Trulia, Hotpads, Craigslist, Rent.com, etc. There is software out there that will take care of most of the questions you're asking about. For example, you can search online for a software that will do all of your marketing for you by posting your property to all the listing sites so you do not have to. You can also find online applications and screening services as well on software .
If you need any suggestions, please reach out to me directly and I can help out with that!
To answer some of your questions, yes, I would absolutely charge for an application. By requiring an application fee, only serious renters are going to apply. If not, the renters you'll be screening and showing your unit to most likely have applications turned in for multiple properties.
To attract better quality tenants, it may be worth it to have professional photos of your unit taken, really focus on curb appeal, and make sure your unit is priced fairly. Finally, have high standards for your screening requirements. It is better to spend a little more time searching for the right tenant rather then getting the unit rented out quickly and potentially dealing with an eviction later on.
0 Reply
Rashad K.
Flipper/Rehabber · Saint Paul, MN · Member since 2016 · 120 posts · 98 votes
8y
@Kyle Baron
I would have to second Facebook. Some of the stuff that you would find is comical. Doing drugs in profile pic, cursing out their previous landlord on the latest post, etc. lol
0 Reply
Yu Liu
Investor · Tallahassee · Member since 2019 · 249 posts · 93 votes
6y
This was a good forum that helped answer my own question about finding tenants and screening them. Thanks for asking. I want to know what you ended up doing in the end and what the results were.
0 Reply
Adam TafelBusiness Member
Real Estate Agent · St. Paul, MN · Member since 2017 · 580 posts · 396 votes
6y
Certain people might not agree with this, but I like to start within my own sphere. I'm not looking to rent to friends or family, but if someone I trust can vouch for them I feel much better. I invest close to home, and have a pretty huge professional/social circle so it's easy. It might be rare that the perfect tenant will appear on the right month, but starting with a FB post from my personal page is typically my first move.
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0 Reply
Joseph Mulero
Member since 2023 · 10 posts · 6 votes
2y
Quote from @Joseph Hammel:

I agree with @Kyle Baron on Zillow. Note. Start with Zillow and it automatically goes on Trulia and hot pads. (Zillow owns them) CL gets me leads as well. I do have one property that I went to FB on as well but you get a lot of ppl that aren't very serious on there. As far as calling it a duplex or apartment just explain in the body of the ad. Regarding the screening I've been using buidium but it's a little spendy for just that. You can use the services by themselves. Google TransUnion smart move. I think it's 30 per person. Personally all I charge is whatever the BG check costs. Attracting better tenants is a formula. Nice place = nice tenant. If you want to pm me I can send you an app that I've used.

@Joseph Hammel Hey brother can you send me that App? I am about to close on my first 4 flex house hack brand new build
0 Reply
Henry T.
Member since 2022 · 1k+ posts · 1k+ votes
2y
Im not gonna get into telling you how. There is so much info on this site that can help you. BUT no one will disagree with me that screening your tenant is THE MOST important part of landlording. Get and good one and don't settle or loosen your standards. Me with almost 40 years in the game. 720 credit or higher. Income three times rent. 2 years on job. No self employs.(yeah, I know). excellent landlord history, check their court records. Thats starters, there's much more. Others will chime in. Look everywhere. You can ad on zillow but dont use their process. Get app forms from those with experience in your area. Go to some opens and grab their forms. SCREENING, don't mess around, don't be lazy, and don't rent to friends.
2 Reply

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