Best way to find tenant prospects

[Ken Latchers]

How would you rank (best to worst) the following methods for bringing in GOOD tenant prospects?

- local newspaper ad
- craigslist
- sign on property
- a listing service such as roommates.com, rent.com, apartment.com
- asking current tenants for referrals
- putting up notice on bulletin boards (groceries, laundromats, churches, etc.)
- other methods?

[Steve Babiak]

I do post ads on CragisList, but those tend to be the flakeyest of the applicants that I encounter.

No longer do anything in the newspaper for advertising rentals.

My best results come from the sign in front of the building. The callers know that they want to be in that area, and they have an idea of the schools and the market there in general (crime, parking, utility bills, taxes, etc). I have now resorted to putting a "for rent" sign on all of my buildings in a neighborhood where I have a vacancy - even on the buildings that have no vacancy; this gets the phone to ring more, and I explain to the tenants there in advance that I am not trying to rent their place but another one I have that's vacant.

I get some referrals from code enforcement officers - typically tenants who are fed up with their present Landlord and are asking about somebody who has properties in good repair and good condition.

I also use a service that is called Locators. They run ads in the newspaper, so you can see if they are advertising in the area you are in. This service sells a list of units to the tenant prospects. When you list with them, you can offer to compensate the accepted tenant for their fees paid for this service, so it's free to you unless you score somebody - and if you get somebody good, the small fee is worth it.