If nobody knows your property is available, there's a %0 chance of it renting.
Finding good tenants for your investment property is one of the most important things you can do as a property investor.
Focusing on finding good tenants will not only reduce your vacancy period but it will also set you up for a stress-free tenancy.
Before you start advertising your property, make sure you have good photos, a clear and accurate description of the property and its surrounding areas, include if any bills are included and make it easy for prospective tenants to contact you or arrange an inspection.
Here are 8 places you should consider advertising your property to get the maximum exposure for your rental property.
1. Online Portals (Eg: Realestate.com.au, Domain.com.au, Rent.com.au)
This is where most people look when they start their search for a rental property. There are costs involved to list your property but it will guarantee your property is being seen by people actively searching for a rental property in your area.
2. 'For Lease' Board
Often criticized as serving agents more than the property itself, a For Lease board on a busy street is a great way to let people know the property is available to be leased. We always get enquiries when we have a board up on a main street.
3. Social Media – Your immediate network
Once you have good photos and your listing is ready, make sure you share it across all your Social Media platforms. You’ll be surprised by the reach you’ll get by sharing it across your Facebook, LinkedIn and Twitter accounts.
4. Private Social Media Groups
There are private groups on Facebook where people advertise their properties to people looking to rent a property. More often than not, these pages are for shorter term accommodation or share accommodation and usually populated by backpackers. I recommend being even more thorough when vetting applicants from private Facebook groups.
5. Letterbox drop to the street
Let the neighbours know there’s a property available. I’ll often have enquiries come through from people in the same apartment building who are either looking to upgrade their apartment or have a friend or family member who’s looking for something in the building/street.
6. Work lunch room
Your next tenant could be the person sitting right across from your right now! If your investment property is close to your place of work, then putting up a flyer in the lunch room could get the attention of the right people.
7. Notice boards at universities, hospitals etc
If your property is near a University, hospital, army base etc then it could be worth putting a flyer up on a local notice board. Most people want to live close to where they work and live so this could be a great source of tenant enquiries.
8. Tell your friends and family
Don’t forget to tell people about your property (tastefully). I always have friends and family referring me to people who are looking for a rental property. A personal recommendation is a great way to find good tenants.