Give your current tenants a finders fee

Offering a referral bonus to current tenants who find you a qualified tenant who signs a lease can be a good marketing tool.

Many owners offer referral bonuses when a current tenant brings a new qualified tenant. The bonus is paid upon the new tenant paying in full and moving in.

You still must screen the tenants as many owners who offer the bonus find a large number of the referrals do not pass screening. I guess this shoots down the old saying "Birds of a feather flock together"

One important aspect to bonuses is to make it very clear to your current tenant that the bonus only applies to new applicants that pass your normal screening, pay all the move in money and ultimately move in. Otherwise you could anger the current tenant and turn one vacancy into two.