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Property Management Blog

The Ultimate Guide to Tenant Placement

Did you know that there are over a million vacant rental units in the United States? The vacancy rate is currently high, and it’s expected to remain this way for several years.

In case you are thinking of real estate investing, tenant placement services can be very helpful. They will help you find tenants who are willing to rent a home for a fair price.

If you don’t want to spend time looking for these tenants yourself, you should consider using a professional service. Read here to understand more about tenant placement.

What is Tenant Placement?

Tenant placement can be defined as the process of finding qualified renters for properties. It involves screening potential tenants through various means such as online databases, social media sites, etc. It is done by a qualified property management company.

This helps landlords avoid having to deal with unreliable or dishonest individuals. We have several ways to get started with tenant placement:

Strategize your Marketing

Great marketing strategies are essential when it comes to getting new tenants into your apartment complex. You need to make sure that your listing is visible on multiple platforms so that it reaches the widest possible audience.

You should also try to target specific groups of people. For example, if you own a building where most of the residents are college students, then you might want to focus more on advertising on student housing websites.

Don't Ignore Red Flags

Red flags are signs that indicate something bad about a person. These include things like lying, stealing, being abusive, etc. When dealing with prospective tenants, you should always look out for red flags.

If a tenant has been evicted from another property, he or she may not be trustworthy.

Screen Prospective Tenants

Once you have found some good prospects, you should screen them thoroughly. Ask questions about their credit history, employment status, criminal background, etc.

During the interview, ask them how they plan to pay rent. Some tenants may lie about this information. If they seem honest, ask them what their references say about them. Ask them about their past landlord relationships.

Check References

References are important because they show whether someone is reliable. A reference check can reveal a lot about a person's character. For instance, if a tenant had a problem with his previous landlord, it could mean trouble.

Always verify references before giving a tenant access to your property.

Benefits of Tenants Placement Services

There are many benefits associated with hiring property managers. Here are just a few:

  • They will do the legwork for you. By outsourcing this task, you won't have to waste valuable time searching for qualified candidates
  • Hiring a property management company will save you a lot of time and effort
  • They will handle all the paperwork

Instead of doing this work yourself, you can hire a reputable service to take care of everything.

Wolfnest can help you find a qualified tenant today!

When it comes to finding qualified tenants, there are plenty of options available. However, you shouldn't rely solely on your own resources. Hiring a professional tenant placement service is an excellent way to ensure that you get quality tenants at a reasonable cost.

To learn more, contact us today and we will help you with tenant placement.

Not sure if you should Rent or Sell your rental property? Use our rent - vs - sell calculator and give us a call today to discuss your options and potential ROI. 

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