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tom | Any LANDLORDS out there. i need advice ???? |
i am a new landlord looking to rent out an apartment. i am looking for tenants. what is the best way to advertise? how have you been able to find tenants. also, are there any good websites to advertise on ? |
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Ron Berue
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There are two BEST ways to advertize:
1] "Word of mouth"
2] A sign on the property.
Your challenge isn't getting a tenant. Your challenge is getting THE RIGHT tenant!
What do I mean? This is all any Landlord or property manager wants from any tenant:
1] The property properly taken care of according to the terms of the lease.
2] The rent on-time or ahead-of-time.
3] Other than an emergency, don't bother the Landord or agent for any reason.
4] The Landlord or agent shouldn't bother the tenant - except to go in and inspect the property.
5] Proper communication - in writing from the Landlord to the Tenant and from the tenant to the Landlord.
Those are it!
BUT there's ALWAYS that "bad apple" out there who lies, makes excuses and does everyuthing the exact opposite of what the Landlord wants.
EVEN IF YOU DECIDE TO RENT THE PROPERTY TO A SECTION 8 VOUCHER/CERTIFICATE TENANT, I strongly suggest you hire a professional property management company to find that first tenant for you.
Let that office PROPERLY find the tenant, draw the lease AND PROPERLY manage your property for at least the first year. As time passes, you "pick the brains" of tyhe rental agent/manager - to learn from their mistakes.
Believe me, if you do the first tenant yourself, you are only asking for trouble and aggravation.
New landlords are notorious for "letting down their guard", renting to the first person/family to "come down the pike" who will make all kinds of statements, representations and promises. Yes, even with Section 8 - especially with Section 8.
Contrary to what Section 8 persons/families tell the Landlord, your monthly rent is NOT "guaranteed".
ANOTHER situation - perhaps two:
A] Never, ever rent to any family members!
B] Never, ever rent to any "friends".
One last hint of what has to be done:
EVERYTHING MUST be in writing. In real estate: when its not in writing, it simply doesn't exist. Cut and dry. Plain and simple.
I could write a book about property management. (((As a matter of fact, its a "work in progress".)))
Thanks for asking your Q! I enjoyed taking the time to answer it!
VTY,
Ron Berue
Yes, that is my real last name! |
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Mark C
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I use a realtor who keeps the place rented, advertises when required, handles the tenants and repairs, investigates new tenants, etc...it costs about 5% of the rent but well worth it |
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I wipe my own @$$
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I am not a landlord, but a renter. I would suggest going on www.craigslist.com, or advertising in your local newspaper, I would make sure to meet with the people, and require refrences and rental history, then you know you are getting good tenants in there that are going to pay the rent and not wreck the place. Good Luck! |
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Candii JoJo is a groovy chick.
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The newspaper is usually the best way to advertise. That is where people looking to rent a place often start. You should run a background check on anyone who applies. You should require that you are notified of any changes of employment and MAKE them sign a lease. First and Last month's rent and a deposit that will be enough to cover damages and the cost of cleaning should the new tenants turn out to be a disappointment. You must find out what your states mandates are for landlords and tenants. Knowing your rights and responsibilties are a must. |
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Jay
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www.craigslist.org its free and you can post 4 pictures up there. |
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perthjamesagro
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I've used college and university housing services they always know students looking for housing. Contact your local college and see if they have a website for that specific use. (usualy free of charge) |
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go_lc_bears
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Craigslist only works for major metropolitan areas... Rent.com is okay, since you only have to pay if they find you someone.
I honestly get the most calls from Facebook ads (college town) and yard signs. Local papers are very popular for renters, but a bit pricey to list in.
Ask around! You'd be amazed at how many people you know, know people who need a place to live. I offer $100 referrals to people I know, other tenants, and people I work with. I've gotten pretty good tenants just by asking around. |
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KEL
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we used our county newspaper. and never have used the internet. but there are alot of websites... but we only have 1 rental property. we only rent to an older lady right now. (i hope she never moves!) shes great,. |
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Lizzie Ann
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Local newspaper classifieds. keep the ad short yet use descrpitve words that are appealing. Best Wishes. |
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Angela
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A GREAT source is Rent.com, or here in Michigan (don't know if it's nationwide) there's a place called RENTALPROS and potential renters pay $100 to see the listings (that way any hoodlum doesn't try to rent from you) and they get the money back if they don't find a rental. They kind of 'prescreen' the renters for you, and you get TONS of advertisement from THEM. Good luck! =) PS. my husband and I found OUR first rental through RentalPros, and I highly recommend them. |
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Brandy
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Dont know of any just for renting.
Roommates.com or something like that could get someone in quick. |
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Mervin McGee
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Try to advertise on a website called matrix.mris.com (a home data base that most realtors use) |
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