Renting in a small town
If you own a rental property in a small town, you may find it hard to get tenants. Your area just may not have many people looking to rent. Does that mean you should lower your rent or sell your property? Not necessarily.
A single family home in a quiet suburb or a unique apartment can be appealing to a lot of people. You just need to make sure the right people know your property is available.
1. The first key is to give your rental lots of exposure. It is difficult for major apartment and home rental sites to cover every town.
Look for smaller local sites to post an ad. There are many free or low cost classified ad web sites available. Also, get your ad on paid web sites where it won’t be buried behind dozens of other properties.
2. Second, give yourself enough time to find renters. Start looking 4-5 months before you need to fill a vacancy.
3. Lastly, contact a local property manager or rental agent for help. They typically charge the first month’s rent, but that is better than losing money if your property is not rented for a long time.
Once you have good tenants, do everything you can to make them happy and keep them there for a few years.
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