Posts Tagged ‘problem finding tenants’

HomeVestors Knows That Many Rental Property Owners Have A Problem Finding Tenants

Thursday, November 28th, 2013

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Investors who are having a problem finding tenants for their rental property need to upgrade their advertising efforts. 

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that investors who have a problem finding tenants need to consider branching out their advertising strategies.  Rental property owners who use a wide range of advertising mediums are bound to find that they are able to keep their rentals full.

Investors who are having a problem finding tenants need to really focus on their advertising program with vigor.  Many investors are locked into the old way of advertising their property.  While putting a For Sale sign on the front yard and advertising the property in the newspaper is bound to bring in some tenants, using the Internet to advertise a rental is absolutely mandatory.

For those investors who are having a problem finding tenants, consider at least placing an advertisement on Craigslist.  This site is responsible for at least capturing 20% of the market.  The popularity of Craigslist has given tenants a place where they can go and find a rental property with little difficulty.

For those who are using Craigslist and other typical advertising strategies, but are still having a problem finding tenants, consider other online techniques designed to increase exposure.  The number one way that tenants search for their next rental property is through an apartment Internet Listing Service (ILS).  In fact, 65% of potential tenants find their next property by searching through these databases.  Investors need to submit their property to a popular ILS in order to capture a number of clients.  Consider paying extra for a premium listing, as a large number of tenants are bound to see it.

Investors who are still having a problem finding tenants, even after listing their site on Craigslist and the ILS should consider starting a social media advertising program.  While only a few potential tenants use this service, it can allow investors to interact with tenants before meeting them.  This can develop confidence in both parties and contribute to a better relationship overall.

Those who are having a problem finding tenants should make sure that they have a positive reputation online.  Most potential tenants will review ratings before initiating contact with a rental property owner.  Rental property owners who have positive feedback overall will be able to capture the majority of the market.

Investors who are having a problem finding tenants should be able to avoid this problem if they start harnessing the power of the Internet.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level of franchisee satisfaction.  For more information, visit www.HomeVestors.com.