If you own one or more rental properties, you may want to consider hiring a property management company to help you. One of the services they can offer you is assistance with tenant placement, which can be one of the most time consuming and complicated parts of being a landlord. A rental property management company can help with listing the rental, showing the property, reviewing applications, and accepting or rejecting applicants.
#1 Listing the Rental
To find the right tenants, you need to do more than put up a notice that you have a property for rent. You need to create a listing that speaks to the type of tenant you want to attract. For example, if you want to attract a family with children, you will want to highlight the large yard, the home's child safety features, and the oversized laundry room.
If you wanted to market the same house to college students, you might want to highlight the large bedrooms with lots of storage and the big kitchen and living room for hanging out in, and how the large backyard is perfect for barbeques and get-togethers. The way you describe the property and highlight the different features will impact the quality of applicants for the property. Let them know what type of tenant you want and allow them to create and place the listing in the right places.
#2 Showing Your Property
Most serious applicants are going to want to see the property in person. Arranging to meet at a time that works for both you and the applicants can be tricky. A rental property management company will arrange the showings, and if you still have a current tenant, it will ensure they are giving proper notice as per state law. After each show, they will follow up with the prospective tenant to see if they want to move forward with the applicant process.
#3 Review Applications
Next, a rental property management service will review all the applications that are turned in. They will make sure your evaluation process complies with federal fair housing rules you must follow as a landlord. They will run background checks and credit checks, follow up with references, check-in on their rental history, and verify all information. From there, a rental property management service can also accept or reject applicants or give you their suggestion if you should accept or reject an applicant. If you reject an applicant, they will let the applicant know right away. If you accept an applicant, they will handle the onboarding process.
Working with a rental property management service can make finding the right tenants for your property a more straightforward process. They can handle the listing, show the property, screen, and select applicants, and handle the lease agreements' onboarding process. If you want to reduce your work as a landlord, consider partnering with a property management company.Share