How can you find more Section 8 renters to occupy your properties?
Some real estate investors are reporting that they can’t find Section 8 renters fast enough, especially good ones. So where are they and what are the most cost effective real estate marketing methods for attracting them?
Section 8 renters can be incredibly profitable for some real estate investors. Those taking advantage of today’s market by expanding their portfolios with buy and hold properties could certainly use a steady flow of interested renters to minimize vacancies and maximize yields. The good news is that reaching and pulling in significant numbers of Section 8 renters doesn’t have to be that hard or expensive.
The following is a list of fast and affordable ways to find Section 8 renters for your properties:
1. Craigslist
Craigslist still proves to be one of the most affordable and effective ways to fill rental vacancies for real estate investors. Make sure to tailor your ads in a way to avoid being seen as another real estate agent or scam artist.
2. Bandit Signs
Outdoor signs are a great and cheap way to generate inbound calls from prospective tenants and home buyers that are ready to make the move. Make it even better by using automated phone services so you will never lose a lead and can streamline the qualification process.
3. Non-Profits
Non-profit organizations, charities, local shelters and government office workers can all be great sources of needy tenants. They will more than likely be truly appreciative of the opportunity to use their housing vouchers to rent your homes.
4. The ‘Competition’
Other landlords, property managers and real estate agents that don’t want to deal with Section 8 renters and the government can be excellent sources for leads. They can also serve as doorways to more collaborative efforts in the future.
5. Referrals
Perhaps the best way to reduce marketing costs and bring in leads on good tenants is simply to keep asking for referrals from current tenants and others in the neighborhood.
