Over 50% of landlords work with a leasing management company. One reason landlord-property manager relationships are so common is that owners can free up time to focus on finding new investments. Meanwhile, leasing managers focus on keeping tenants content long-term.
There are plenty of ways they can do this. The following are a few of the best ways rental property managers ensure you find and keep great tenants.
Screening Tenants
You will want to design an application form that collects the essential information you need. Though bear in mind that there are local rental laws regarding what you can and cannot ask for.
You likely want to ensure they have a robust employment history, as well as verifiable income. You might also want references from previous landlords to ensure they are a good community fit.
During this process, ensure the tenant provides you with all the documentation they need to give you. Them doing this right the first time will allow you to process them faster and allows you to know if they are thorough and detail-oriented.
Prioritizing Rental Property Repairs
Both regular inspections and rental property maintenance can help you get the peace of mind you need about any tenant. Inspections allow you to know the property is in a good state. Meanwhile, maintenance causes the tenant to feel you are using their rent responsibly, leading to a better relationship.
If something goes wrong and the tenant contacts you, you should also take it seriously, fixing any issues as soon as they come up. Make sure you stay in contact with the tenant throughout the process so they know you are resolving the issue even when they aren't home.
Transparent Property Management
Make sure your lease agreements are clear when it comes to each party's responsibilities, as well as rules of what tenants can use the location for. They should also have details on what your expectations are when it comes to lease renewals, for example. Speak with the tenant when such renewals are approaching, so you can both understand what expectations are moving forward.
Addressing Tenant Concerns
Many issues might cause a tenant to question their situation. These include problems with other tenants or concerns about pets in rental properties.
Being up-front about such concerns allows your renters to know where they stand. If it does not impact your insurance or other payments, you may even want to adjust specific contracts to allow for things like pets. This will ensure your tenants feel cared for and become more likely to stay longer.
Effective Leasing Management
Most of the above issues do not need handling by you at all times, especially if you have a large portfolio. Instead, have you considered working with a leasing management group to take such things off your hands?
We can offer you our expertise and tried-and-tested processes to resolve everything with the least effort. This way, you can focus on expanding your real estate empire and enjoying the fruits of your labor. So, get in contact to find out how Davis County Property Management can help.
