Do you have a new investment property or rental unit that has a lease which is about to expire. In order to maximize your investment, it’s paramount that you source and attract a quality tenant to occupy your rental property. What is a quality tenant and how do you identify and secure one? Follow these recommendations from the investment property experts to ensure your efforts pay off for your investment.
A quality tenant is one that follows all the articles of the lease and maintains the property in the same or better condition in which it was initially leased. In order to attract a quality tenant, you must first have a quality property. This means the unit should be very, very clean with no deferred maintenance issues and you, as a landlord, need to be committed, within reason to the needs of the tenants. Securing and maintaining a quality tenant is a two-way street.
The first objective is to ensure your rental property is in excellent condition and has no deferred maintenance issues. Take advantage of the awesome deals offered by Groupon and stock up on cleaning supplies at Walmart now. Address the curb appeal of the property. Cut the grass, trim the shrubbery and update the mailbox and house numbers. A planter of colorful flowers will go a long way in making the home appealing to prospective tenants. On the interior, paint each of the rooms, including baseboards, doors and trim work. Have the floors steam cleaned and carpets cleaned or replaced as necessary. Ensure all appliances are in working condition including the heating and air conditioning systems.
Finally, take multiple photos of the interior and exterior of the property. Prepare a written description of the room counts, amenities and full terms of the lease. Disclosure the specific of the application process. Select a website on which to list the property for rent. Be prepared to respond quickly to all inquiries. Many prospective tenants are interested in viewing the property the same day it is listed. Best of luck to you in securing a quality tenant!