Are you too busy to vet all of your prospective tenants? The right property manager can help you find the right residents for your property. Here's how.
Keyword(s): property manager
You've heard horror stories about tenants so loud that their neighbors call the police, of tenants who trash their rentals, or of tenants who need to be evicted. You don't want those tenants. But how do you find the right tenants?
Finding tenants requires listing the property, collecting applications, and conducting background checks. Why not hire a property management company to do the work for you? Read on to learn how a property manager can help you with finding good tenants.
Market the Property
A good marketing strategy might involve word of mouth, newspaper ads, social media advertising, or putting up signs in the yard. A property manager will know the best strategy for your area: professional property pictures and comprehensive rent analysis are the foundation before a successful listing. At Next Brick, our main focus is to get the property the maximum visibility and do everything we can to ensure we generate a strong potential tenants pool. In the event of lower volume, we also utilize our own tenants' database, boost ads on social media channels, and subsidiary real estate websites.
Selecting Tenants
Before accepting a tenant, your property manager can help you check all your applicants' backgrounds and credit scores. This will let you know if your potential tenant has a criminal record and their financial shape. At Next Brick, we look into how realistic tenants can afford the property. The monthly income needs to be at least three times more than the monthly rent.
Tenants' rental history is important to us. We check referrals from at least three previous landlords. This will tell you whether tenants paid the rent on time, whether they respected the property and the neighbors, and why they moved.
Finally, we respect the difference of each property and its uniqueness. We understand the same with tenants.
Keep Good Tenants
According to one estimate, an average of 54% of apartments turn over every year. Not only does each turnover lower your rental income, but you may also need to pay for repairs and professional cleaning between tenants. That's why it's so important to keep the right tenants.
A good property manager will communicate regularly with your tenants to help them feel valued, and they can quickly respond to complaints and order repairs when necessary. The manager may also check in with tenants to ask what might make them more comfortable.
As the year ends, a property manager will work hard to help tenants want to renew their lease. This means reaching out to tenants well in advance to invite them to renew and start the negotiation process. Your property manager will be able to advise you on how to gradually raise rents to stay in line with your area and to keep tenants satisfied with what they pay.
Find Your Property Manager
If you would like help finding a renter, contact a Next Brick property manager today. We'll help you advertise your rental, accept applications, and screen tenants. Soon you'll be signing a lease with the perfect tenants.
