You can make a ton of additional income by renting rooms in your house. You can also rent rooms in your investment property, with proper room advertising, as a way to earn more money from it.
But the question is, how do you find the renters?
There are many ways to find renters. Some cost a fortune and others are free. Personally I really enjoy using the free methods because they help me keep more of my money.
Try the following tips to help you find renters for your property:
Referrals From Your Current Tenants
Current tenants are an often under-used and overlooked source for renters. If you already have tenants, ask them if they know anyone who is looking for a room to rent.
Most times these referrals are already indirectly pre-screened because similar people are normally associated together. When you have a vacant room, don’t forget to ask your current residents. It’s free and it doesn’t cost you anything to ask.
Post Room For Rent Notices On Bulletin Boards
Bulletin boards are an excellent source for renters. Start by posting your room for rent notice with your electronic or caulk bulletin board at work. Checkout local grocery stores and chopping centers near you. Don’t forget about churches, community centers, and other gathering places that may have a bulletin board.
Ask Your Friends And Family
Call all of your friends and family, and ask if they know of someone who is looking for a room to rent. Your friends have friends, and their friends have friends, and so on. It’s the 6 degrees of separation theory. Your extended network is huge and gives you access to potential renters.
Post a Classified Ad on Craigslist
Craigslist room advertising is the surest way to get renters quickly. Your ads on Craigslist can reach millions of potential renters throughout the world. You are no longer limited to your local neighborhood. Craigslist room advertising will deliver tons of renter calls.