Profile picture for ninok

Question to experienced landlords in Sacramento

Hello Experts,
Need your advice. I bough a 4-plex in Rancho Cordova few weeks ago and now is in process of complete remodeling.
Hope it will be on the rental market in few weeks. What strategy should I use to attract new tenants and fill vacancy ASAP with stable tenants?
Price range 750 - 800/month for 2b/1bath

So far I'm thinking of few strategies:
- P first month off to move in with 1 year lease;
- $99 first month rent for approved tenants with 1 year lease;
- $100 gift certificate to local store
- ????

What place would you recommend me to use for my add?
- craigslist
- Sacramento Bee
- radio
- flayers to local stores
-www.shra.org - Section 8 tenants
-????
Appreciate your inputs.

  • January 25 2009 - Sacramento
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Answers (6)

Profile picture for homeandrentalowner
We have had good luck with Craigslist applicants.  Membership in RHA is a good investment in exchange for proper forms, credit checks, maintenance guidelines, and general education.  We give a $25 discount on all rents paid before the 1st of the month.  Money in before money out is always good.
  • June 11 2009
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Profile picture for COBRAFANG
[inappropriate comment, removed by moderator]
  • May 14 2009
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Profile picture for sunnyview
Great advice LunarBat! I hope the OP takes it.
  • February 12 2009
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Profile picture for LunarBat
Ninok, if you haven't already joined RHA, then I second Sunnyview's suggestion.  When we rent our first home, we joined, and as Sunnyview said, the background/credit check expense savings alone paid for the membership.  We were able to leverage their standard forms, I think that was free.  We managed to find out information about an applicant we liked that indicated they were absolutely the wrong tenants for us. 

In answering your question, I personally do not like "free" rent offers, regardless of lease agreements.  Too many ways of getting out of the lease, and leaving me (the owner) without that initial income.  However, the type of incentive you offer will also depend heavily on the area in which you are renting.  If the neighborhood is not great, or access to major streets is a problem, then you might want to consider a larger incentive.  Before going that route, however, get your listing out as much as possible.  Craigslist and the Bee are both good.  We only used Craigstlist, and got a mix of responses.  However, the renter we eventually went with did come from Craigslist.  Personally, I would avoid non-targeted marketing, such as flyers or radio.
  • February 12 2009
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Profile picture for sunnyview
Last time I placed an ad in the Bee the response was very good even for a small ad. They can be more expensive than other options, but you can get a good volume of applications to choose from. Craigslist hits a slightly different demographic than the bee somewhat younger, professionals starting out, students, young families. Section 8 rent up may take a little longer, but you can definitely call the office that handles them to see what their current needs/rents/wait time is. There are other issues with section 8, but vigorous prescreening often reduces potential long term problems. A word of advice, if you have limited experience doing tenant screening, PLEASE get someone who has experience to help/advise you. There are specific legal issues involved and a bad tenant can be truly terrible to get out especially on a lease. Even paying someone for a consultation for a couple hours can save you a lot of headaches. This organization was great, has forms to use, helpful staff and had an attorney on retainer for evictions that was free for consultation to members here. They may be worth your membership fee for the credit checks and  the forms alone. Check them out and good luck.
  • January 27 2009
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I find craigslist to be a great place for rental ads.   You can post photos and advertise open houses.

Good Luck!

Kristina McBurney
Realtor Consultant
  • January 25 2009
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