Ways to advertise/promote property

[Kilter L.]

Hi Utah Investors, I am ready to rent out my first investment property and I would love to learn from your experience. What's the most effective way for you to find good renters? I have posted the property on ksl, craigslist, zillow and one facebook group. I am also planning to post open houses info on these websites after Christmas. The home is available on Jan 25, 2017. The property is a very new single family home with a good-size fenced yard (built 2012, 2500 sq ft) located in Taylorsville in Salt Lake County. Any advise on how to effectively promote the property will be appreciated! Thanks!

Lee

[Patti Robertson]

Don't get into the trap of paying for water for a 7 person family. You will lose your shirt on that deal. In a SFH it is customary for tenants to pay their own water, even in SEC 8. Tenants will always choose to have the landlord provide any and all utilities with the rent. This family would not meet my criteria, because I limit my occupants to two people per bedroom, no matter what. With 7 people, they have at least a 4 bedroom voucher, possibly more depending on how your housing offices determines bedroom size. Verify the info they tell you about previous rentals and why they are moving by talking to past landlords (their second to last one will have more reliable info than the current one who may just want to get rid of them), doing a credit check (which will validate past address history), and checking court records for any landlord filings and judgments. I have a hunch this family has a delinquent water bill, and that's why they are asking that water be included with the rent in a single family house. You didn't mention if the two adults work. Even with SEC 8, you want tenants who work, unless they have a legitimate reason not to (like being retired or disabled.)

Be patient. It is better to find a great tenant than to fill a vacancy with a bad tenant. Good luck!!!