The Secret to Find Great Tenants
DIY Tips to Find Great Tenants
To find a tenant for your rental property you can choose two routes: hire a property management company like Elda Management Services, or do it yourself.
Finding a good tenant can be very hard, imagine how it is to find a great one! Here are some important things you will need to remember:
- Putting a “For Rent” sign is not enough, you need to go online.
- Look for this warning signs: they argue or they look desperate.
- Run a background check (credit report, eviction reports, and criminal reports)
- You’ll want at least one month of rent as deposit.
Your goal as a rental real estate investor
is to have minimal tenant turnover. Following these criteria will help you find good tenants, but will not help you maintain them.
How To Minimize Tenants Turnover
Being a good landlord requires you to have good communication skills, but most importantly, patience and flexibility. This is why most rental real estate investors choose to go with a Property Management Company
To maintain a good landlord-tenant relationship is important that you know and follow the rules (Fair Housing Rules). Make sure you have a well-written contract explaining all the policies.
Your tenants will be expecting some services from you. Repairs and maintenance can be very costly if you don’t have a good and reliable handy-man. Also, make it easy for your tenants to make payments.
Keeping up the condition of your rental property adhering to local health and safety codes is extremely important as well.
Hiring a Property Management Company to Find Great Tenants
Hiring a Property Manager is the best route to choose to find great tenants, especially when you own more than one rental property.
Property managers goal is to minimize tenant turnover. They also save you all the time and hassle to find tenants since they will take care of all the advertising, tenant screening, collecting rent, repairs, and all contact with the tenant.
As your property manager you can rest assure that your tenants will be treated with the up-most respect and service. Our greatest reward as your property manager is being able to witness tenants live happily and for long period of times in our managed properties, and landlords being able to get the most out of your investment and enjoy the benefits of trusting us with their properties.
Learn more about how to become a landlord in our other blogs. Find out how to select profitable rental properties
, how to manage your investment property
, or event if Hiring a Property Manager
is right for you. You can also choose to download the Rental Real Estate Investor Guide to Become a landlord