Filling Vacant Rental Properties
A lot of new investors (like myself) seem to have the fear that once they buy a property, it will sit vacant for months and ruin their cash flow and make them unable to pay their bills. Of course, a lot of this depends on the market, but in general, what are your best suggestions for quickly filling a rental property with good tenants?
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@Account Closed The number one way that properties get filled is the sign in the yard. No kidding. Neighbors refer, neighbors leave their home and move into yours, people driving by who want to live in the area or who work nearby. I find it fascinating that of all the marketing we do, the number one way people find our rentals is the sign in the yard.
Then, of course, there are tons of sites online for marketing - Craigslist, ForRent.com, Zillow, Trulia, HotPads, etc., etc.
And we screen everyone through services like National Tenant Network (ntnonline.com). Screening is very inexpensive and takes the guesswork out of who you're putting in your property. We charge it back to the tenant on their app - anywhere from $25-$40.
Landlording is not that difficult when you put in a little time and effort up front.
Good luck to you!