How can I find tenants?

Question

I recently just bought a place in Detroit, MI. I'm getting nervous because it's been almost a month since I've closed and the property manager still hasn't gotten a tenant. I know this isn't the property manager's fault- as they have the advertisement out...but nonetheless, I am still nervous. What means would anyone recommend that I can help find a tenant on my own? Thank you!

Tom Kaider · Answer

@Chris LumLee   Try to find the listing yourself.  We do some management in and around Detroit, and we usually send screencaptures of what our client's listing looks like compared to other similar units.  Also, try to find out if your PM has listed it just on the popular sites like Zillow, or have listed it on every site in existence.

Kyle Tanner · Answer

If it's Metro Detriot my best advice is make sure the property is secure between tenants!  As a standard policy, we either have a tenant move out in the AM and the new one move in, in the PM, or we have security stay during the 'vacant' days, or we board up.  Most people won;t break into an occupied property, but if they know its vacant, they will scrap it in hours. Even if you are forcing a teantn out, you need to know what hour they are leaving.  I had a tenant evicted.  They handed the keys over.  My PM went back the next day and someone pulled the cabniets off the walls, unhooked the furnace and stacked everything in the living room ready to be picked up.

David Simovski · Answer

Chris, feel free to reach out to me and I can analyze your listing for you. I can give you basic information in regards to the rents the homes nearby are fetching and how quickly. I'd be happy to help.

Chris LumLee · Answer

Thank you! I'll go and check those out!

Kenneth Garrett · Answer

@Chris LumLee

I'm not familiar with the Detroit market.  I have had fantastic success with Zillow Rental Manager. Here are a few things to consider:  Is it priced correctly?  Where is it marketed? What is the average DOM (Days on market for your area )?  Look at your competition; what condition or features do those units have?  Many people find free websites to find there rentals and not the MLS.

Good Luck.