Finding good Tenants in Toledo

[Anthony Roberts]

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

[Dave Poeppelmeier]

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you.