The purpose of your investment real estate is to produce positive monthly cash flow and sell for an increased value at some point in the future. The only way rental real estate will be successful is to have excellent hands-on partners in the venture, otherwise know as tenants. Great tenants are crucial to the financial success of your rental property. In fact it’s been said that the property isn’t an asset without great tenants in it. So where can you find the elusive great tenant? They’re only elusive if you don’t know how to attract them. By being open minded and pro-active, pumping up your ads and sweetening the deal you can attract great tenants like bees to honey.

Five years ago I tried to persuade my property manager to start placing rental ads on the Internet. She flat out refused. In her mind no one was ever going to look online for a property. The only place to advertise was the newspapers, granted it was more expensive but that was the way she had always done it. Now, I exclusively rent on line with great results. Statistics show that people go to the Internet first to find place to live. In areas where migration is out of state, province or even the country your tenants aren’t going to pick up the local newspaper; their only resource is online. The point is you have to follow your tenants. Be ready to change and adapt to new markets or even set the next trend in rental ads. If times changed and skywriting became the new way to find tenants, you can bet I would do that too.

When I was a tenant I can’t tell you how many rental ads I combed over looking for the perfect mix of comfort and convenience that wouldn’t bust my budget. The sad part is most ads were written in a language I couldn’t understand. There were a lot of “bdrms” and “bas” and until I figured that lingo out I was lost in the world of Realtor speak. Most of the time I had no clear idea of what I would be looking at until I physically went to the property. Imagine if you wrote an ad that literally put a movie into your ideal tenant’s head. As they read it they could see themselves living in your house, better yet they couldn’t wait to move in. How do you do that? Use adjectives, the more the better, and tell your tenants what a great life they will have in your house. The additions of words like beautiful, stunning, gorgeous and stylish are proven to significantly improve the sale price of a house; don’t you think they will attract tenants as well? Turn “new kitchen” into “the perfect place to start the day with your family” or “3brdm” into “more than enough private space for everyone in your family”. Now doesn’t that sound more appealing?

A vacant property is doing nothing but keeping you up at night. When you have empty investment properties you have a lot more bills to pay, another mortgage and ...

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