The average vacancy rate for a rental property in the US as of the third quarter of 2021 is 5.8%. This is approximately three weeks of the year that the average rental property is empty. Finding new tenants is a time-consuming and expensive process, made the more so by long drawn out vacancy periods where you’re still paying all the bills related to the property.
Thankfully, however, there are numerous solutions available to landlords today that enable them to minimize this vacancy period and reduce the overall amount of time and money that needs to be spent finding new tenants.
In this article, we take a look at seven of the best rental websites for finding new tenants fast.
Zillow is considered one of the best rental listing sites. As you sign in, you need to choose between a Landlord/Property Manager or a Renter. You then click the choice of property if it’s managed, owned, or for rental. Next is the property address and the type of property (house, condo/ apartment unit, townhouse, or apartment community).
Zillow is free for 30-days for the first property listing but charges $9.99 per week after this trial period. It is affiliated with rental listing sites like Trulia and Hot Pads, where your property will also appear in order to increase your overall reach.
Apartments.com is one of the best free rental listing sites for attracting qualified tenants, with an estimated 35 million visits to their site per month. You choose from a single unit/multiple units, address, property type (apartment, single-family house, condominium, townhouse, mobile home/manufactured house), numbers of beds, and baths.
This free rental website has about 1.1 million listings, with an option to upgrade to a premium plan that features the property in a large ad and is placed on the top search result within 30 days. As the parent company of multiple rental sites, your listing will be featured in Apartment Finder, ForRent.com, Apartamentos.com, and Home Living.
Zumper is a favored rental website and uses a two-way matching system to pair the right tenant with your property. The tenant specifies the preferred location, rental period, and price range, and target moving date. The lease is indicated as long-term, monthly, and 28-days vacation for homes, apartments, flexible or furnished living. Property managers can state the minimum criteria that they are looking for in tenants to help avoid time-wasting scenarios. And renters have the option to scroll through the many property listings according to their monthly budget.
PadMapper has a rental listing from the US and Canada. All the basic property details are indicated like price, address, and the number of bedrooms. Some have live online, 3D, or video tours with a short description of the property.
PadMapper is a free rental website that matches your property with the right tenant. The subscriber uses the filters to narrow down their choices with the available facilities and amenities of the property. Once you’ve listed your property, this will appear on the parent site Zumper and Facebook Marketplace.
5. Facebook Marketplace
Facebook Marketplace is a convenient and free platform to list your properties. Use your Facebook account to log into Property Rentals and choose the type of property (apartment, condos, houses, townhouses, etc.), the location, the radius, and the map locator.
Using the Facebook Marketplace platform allows you to get in front of a high number of prospective tenants and allows easy correspondence using Messenger for inquiries and updates. Take note that this is not a regulated property website and may encounter low-quality applicants and possible scams if you’re not careful.
Craigslist.com is one of the oldest and best sites for promoting your rental listing. Craigslist allows you to post your property for free, with an option to sponsor a post to increase the reach of your listing. Since this is not a regulated property platform, be on your guard for scammers and time-waters.
RentDigs allows you to post multiple pictures with detailed descriptions of your property and is featured on national and local advertising platforms. Register as a landlord and follow the listing guidelines to guide you through posting your property. You can include short-term rentals or rent-to-own schemes.
This free rental website increases your audience reach with its affiliate listing sites like Oodle.com, Rentjungle.com, Trovit.com, Mitula.com, and Claz.org. You’ll even get a link that you can use on your social media and view the statistics on how often your listing was viewed.
Every day that your property is vacant is lost revenue. However, you don’t want to fill your property with the first tenant applicant that comes along; you want to fill it with the best applicant. You need to ensure that the tenant can and will pay rent on time and in full every single month.
However, managing applicants and screening tenants is an additional time-consuming process, which is one of the reasons for software like Landlord Studio. Thankfully with property management tools like Landlord Studio, you can set up a pre-screening questionnaire and manage tenant applications in one place. As well as run tenant screening reports to check important information, such as credit history, current income, renting history, and background.