A challenge that most landlords in Albuquerque face, is finding reliable tenants to fill their rental properties. The perfect tenant is one who follows the terms of the lease, keeps the property in good condition, and one who pays rent without issues.
In this article, we’ll look at 8 ways on how to find renters for your Albuquerque rental property.
1. ‘For Rent’ Signs: Advertise Your Rental Yourself
As simple as they look, using ‘For Rent’ signs, are still an effective method of getting prospective tenants. ‘For Rent’ signs have two main benefits: first, they are inexpensive options. You can get one from your local hardware store for as little as $20.
Second, neighbors can help you with your search as they have vested interests in who lives next door. Therefore, if a neighbor spots the signage, they may assist you to get a tenant, or may even know one looking for a place to rent. According to a research, word of mouth referrals are known to generate good leads.
Before placing a ‘For Rent’ sign, make sure you are aware of any restrictions on sign placement. This is because certain placements may be governed by local or community ordinance.
You can place the sign in any strategic area. Like in the yard, in a window of the property, or anywhere near the property.
2. Craigslist: List Your Rental Property for Free
Nowadays, one of the most effective ways finding good tenants is through posting property listings online. Craigslist is a good example of such online resources. When posting here, make sure to include the following:
- High-quality photos.
People are visual. They want to get an idea of what the property looks like first. If you don’t include pictures, you will be greatly limiting the number of people looking at your property listing.
- Make the headline catchy.
Catchy headlines grab attention quickly. The idea here is to make your headline stand out from the rest of the crowd. Examples of great headlines include:
- Spacious condo. Five-minute walk to the metro.
- Must see! Updated kitchen and parking included!
- Renovated 1 BR with utilities included.
- Charming 2 BR on a lovely tree-lined street.
- Adhere to the provisions of the Federal Fair Housing Act.
You must not only follow Craigslist’s own non-discriminatory policy but should also follow the Federal Fair Housing Rules.
According to the act, you must not discriminate against a tenant based on some protected classes. Examples of such classes include familial status, disability, national origin, sex, religion, color, and race.
It would, for instance, be discriminative to say “No children allowed”.
3. Rental Websites: Websites to List Albuquerque Rental Properties
There are many free rental listing sites for landlords. They include Hotpads, Zillow, Apartments.com, Rentals.com, and Trulia. And the best thing? It’s totally free.
With your property listed on these websites, you are sure of increased visibility. Increased visibility means that many prospective tenants will come across your property, widening your tenant search. This increases the possibility of landing a good tenant for your Albuquerque rental property.
4. Social media: Advertise Your Rental Property for Free
You can also find tenants for your Albuquerque rental property through social media. Millions of people use social media sites like Twitter and Facebook on a daily basis.
You can use your personal accounts. You can tweet to your followers via Twitter, post a photo of the rental on Instagram, post a status update on your account or list your property on Facebook.com’s marketplace.
In addition, you may be able to post your available listing on a rental listing group. A good number of social media sites have groups formed around geographical areas, where locals can advertise items for sale, and so on.
5. Print media: List Your Property in the Classified Ads
Another choice to consider is local print media. They include community newsletters, local free-press publications, and newspapers. The older generations may particularly prefer these as opposed to online sources such as rental websites or Craigslist.
Besides, many print media now have online editions as well.
6. Word of Mouth: Find a Tenant Through Referrals
You can also find qualified renters by turning to your circle of influence. For example, relatives, neighbors, and friends. If done well, word of mouth can provide you with some of the best leads.
The following are three word-of-mouth strategies when looking for a new tenant.
- Encourage and engage with online reviews.
Before actually reaching out to you about your properties, any potential renter is going to do some online research first. Online reviews, in the research process, can often make or break the decision of the renter. In fact, almost nine out of ten people trust online reviews as much as they trust referrals from their close friends.
- Find and share powerful renter testimonials.
If a picture speaks a thousand words, a testimonial from a tenant is worth more than a thousand lines of text on a rental listing.
- Offer incentives.
You could be missing a major marketing opportunity if you aren’t encouraging your existing renters to refer their friends to your community.
7. Realtors: Get Help from a Professional
You could also get a realtor find tenants for you. Generally, realtors charge the equivalent of the rent of one month for their services. To better your chances of landing a good one, interview a couple.
Although this may seem costly, it can save you lots of stress when it comes to dealing with prospective tenants, especially when you can’t find a tenant to fill your vacancy.
8. Local Bulletin Boards: Attract Passersby
Another way on how to find tenants for your Albuquerque rental property is through advertising on local bulletin boards. Post flyers on bulletin boards of bus stops, laundromats, churches, grocery stores, and colleges.
To draw interest to the flyer, make sure you use large, color photographs and a bold headline. Also, don’t forget to include tear-offs. The tear-offs should contain your contact information, the number of bedrooms and the property address.
If you want to find tenants quickly, prospective tenants should be able to find you. By using these 8 tried-and-tested methods, you’ll be able to tap into a large tenant pool interested in your Albuquerque rental property.
- Albuquerque Investment Property
- Breaking a Lease
- Screening Tenant
- New Mexico Renter's Rights
- How to Find Tenants for Your Albuquerque Rental Property
- 6 Tips for a Better Relationship with Your Albuquerque Tenants
- Details an Albuquerque, NM Rental Agreement Must Include
- Tips for Purchasing Investment Property in Albuquerque
- What to Know When Breaking a Lease in New Mexico