Our Blog
Property owners sometimes face problems with arranging good tenants. As you know, if your property is tenant-free for a longer time. It is not considered good in the favor of the property owner. So, here Proptino Manager is providing you 10 tips for finding a reliable tenant. By following this, you can make this thing more manageable for yourself. Property management is a vast market, and to stand out there honestly is a fundamental task. So, read this article, for you will surely find a way to handle this process.
Stagging is the initial strategy for getting the right tenant. This means there are high chances of meeting the renters who are ready to pay high income. Stagging is when the landlord makes his property presentable, welcoming and attractive. Now- a – days, people prefer those places which give aesthetic vibes. Moreover, minor changes or re- arrangements of the furniture and installing some lights create an appealing look and are also budget friendly.
Read Article: How to stage the property?
Make sure the price that you are offering is aligned with the market rate or the houses in your area. This helps attract suitable tenants and minimizes the vacancy period.
Additionally, stay updated with market rates that will highlight your house and help you adjust according to seasonal trends. If your rents are below the property's rates in your local area, then the visitor considers there is something fishy. On the other side, if the house staging is not prominent and your demand is high, then rentals are also not going to select your place. But having the extraordinary house presentation is an exceptional case.
Before renting the property, there is a screening process in which the landlord checks out the tenant's history. Whether his background and the previous views about him/her.
Furthermore, verifying the financial stability and tenant's reliability is also a big concern. Here are the steps that should be followed up while doing the screening. This process works as a precaution against any damage to the property or conflict with tenants in the future.
Read our article about how to do the screening process to get a better understanding of the Ultimate property management guide for Landlords in 2024.
Online listing is a crucial step in getting the attention of tenants in a short period of time. In listing, you should highlight the most appealing area of your house. What are the areas that you consider most eye-catching? Like spacious rooms and modern appliances. You can also highlight the location if your house is in a prime location. Listing cover-up, the aspects of choosing the attention-grabbing heading and sharing your story about your property with the audience. An attractive listing can increase the chances of getting the desirable tenant. Furthermore, if you want to make your listing amazing, then here is the article. Through this, you can get more information about it by mentioning the link to the attention-grabbing listing.
Being a good landlord is necessary. Rental observes the nature of the owner of the house. As the property business is becoming an emerging market, then the conflict between landlords and rentals is becoming under discussion. So, the government passed a law that mandated fair housing for the safety of the rentals. When the tenants visit your property, try to build up good communication with them. That will show how much is flexible and good for nature. Additionally, be responsive to their inquiries via email, texts or calls. Transparency is the key to building relations. Follow the simple rule: Clear, Concise, and Respectful.
Speak up about your property and let the other know what you are offering them. Advertising is the best option for doing this. Almost half of the population of younger rentals search online to find a house for rent. So, here is the way through which the property owner can get the rental in the minimum period of time. Different websites like Zillow, Realtor.com, Apartment.com, and Airbnb are some platforms that can help property owner advertise their property and hit up the right rental; moreover, for doing the advertising, you need to prepare the listing that will attract more rentals towards you.
Here is the link to a listing: Money Saving Property Advertising Packages
If you have multiple properties and want to rent them, then hire a property manager who will make the whole process effortless, such as creating the listing, screening process, and signing the lease agreement. All these things are time-consuming and sometimes become problematic if the property owner does not have enough information about it. On the other side, becoming aware of property management and how the localities manage, and offer is a big concern.
Having the link here about what are the benefits of hiring the property management.
Giving the multiple option of payment becoming less stressful for rentals to pay the rent. By providing them different payment option you can increase the chances of getting rent on time. flexible payment options are online payment (PayPal, Rent Payment, Venmo), through bank, check payment, or cash payment. multiple options increase the flexibility and make tenants satisfy about paying.
Adopt flexible behavior towards your rentals. You need to understand that different people have different preference. And doing some flexibility can create the positive image of yours among them. Here are some options where you can do adjustment.
The lease contract is the kind of documentation that will be signed between the landlord and the tenant. In this paper of documentation, the landlord mentions all those conditions on which he/she allows the person to be on rent in his/her property. After obtaining the signatures of both entities, the property will be rented out. To do the whole procedure easily without getting into any trouble, you need to make your lease contract in easy words without fusing in Jorgen's language. Clear each clause with your rental and discuss if they have a problem at any point.
The red flag or unreliable person always gives you the signs. Being a landlord, you need to pick up these signs. These things start through the application. When the rental leaves out any blank or does not provide information completely, consider it a red flag. Verify whether the mentioned information is correct or not. Additionally, contact the rental current employer or the previous landowner. Take note if they indicate that the person is having trouble with the previous neighbors or the person itself is a problem. Whether he has a positive relationship with the prior landlord or not. Moreover, check out the financial condition of the rental. Here, you can find the person's reliability. In short, a suspicious background with irregular income is a sign for you to think this person. This will create trouble for you in the future.
All of these things are come under the screening process. As a landlord if you do screening process correctly that will assist you to get the desirable tenant. read this article about screening.
In the nutshell, having the road map about how to handle the process of finding the reliable tenant is crucial. Once the landlord ensures all these tips. It will reward with right tenant with the right pay. Apart from this the property owner also safe himself from any conflict that may have possibility of happened in the future.
Tenant screening is the process in which rentals give information about their background and financial condition. This process is done to ensure the authenticity of the rental. Moreover, it reduces the chances of eviction, late payment and property damage.
Do some research work and see what the same properties as yours charge in your area. Many online platforms like Zillow, Apartments.com can assist you to find out the suitable price for your house. Additionally, examine the other elements like location, amenities, Wi- Fi installation, laundry, parking while setting the price for your property.
To attract the right tenants, make sure to add the prime feature of your house. Such as an outdoor area, TV lounge, upgraded kitchenette or any place that you think is beautiful. Use attractive headlines with appealing descriptions. These things help you to get potential rental.
Be clear and professional while communicating with your tenant. Also answer their quires as soon as possible. Use good tone during addressing them. Be transparent about the lease contract, make sure they are well- aware about the rules and regulations.
Prefer those applicants who are mentioned everything that you want to know, stable source of income and transparent historical background person is the perfect rental for your property.
Without proper insurance, the risk is for you. In any case, tenants damage your property. Then they will be responsible for this. So, having strong tenant insurance will be favorable in your case.
Being a rigid in the lease condition will ward off your potential tenants. By providing various flexibility like shorter lease duration, multiple payment dates maximum the changes of getting tenant and minimize the vacancy period.
