Landlords and property managers struggle to maintain their investment properties as the coronavirus pandemic continues to plague the US. With many residents unemployed and unable to pay the rent and mandates in place to prevent eviction, keeping the lights on is an ongoing battle. While the next-best solution to covering costs would be to fill vacant units, these chaotic times have also made it challenging to attract financially stable tenants.
For starters, people have become so fearful of contracting this deadly virus that they’re leery of visiting properties in-person. Added to the madness is the uncertainty of job security as financially strapped businesses lay off employees to survive. Though these pandemic-related changes have created several obstacles for landlords and property managers to overcome, there is light at the end of the tunnel.
If you’re looking to attract new tenants to your rental property during the pandemic, consider these marketing and management tips.
Identify Your Target Audience
To increase your chances of locating financially-stable tenants amid the global pandemic, you need to identify your target audience. Fortunately, not everyone is without a job at the moment. Some front line and essential workers have taken on additional hours and, therefore, have the means to cover rent. Depending on the rental property location, your ideal tenants may be doctors, nurses, paramedics, sanitation workers, police, government employees, or restaurant workers, to name a few.