Every earnest Jacksonville single-family rental property owner should know very well how to get and keep the right tenants in their rental homes. But who are the “right tenants” for your rental properties? And where might you find them? These few questions are significant first steps toward renting your property to the right tenant – and hopefully, one who plans to stay in the home for a long, long time. In fact, by using a few tried-and-true strategies, you can more quickly and easily find the tenant you want.
The vital first step to finding the right tenants for your rental properties is to really have a clear understanding of who your ideal tenant is. There are many different renter demographics, each certainly having a unique set of wants and needs. As a result, it’s necessary to develop both an in-depth understanding of your local rental market and, likewise, a profile of who you think will make the best tenant for your specific property. Seriously look at your property from the perspective of a tenant. Who are the renters in your area? Which of them do you think would find your property appealing, and why?
By thoughtfully understanding your market and your property, you can then take the next step to find the right tenant: advertising. As a rule of thumb, as concerns advertising a rental property, the more targeted your marketing is around your ideal tenant, the more successful your advertising is likely to be. Depending on who you decide your perfect tenant is, be prepared to bring your advertising to them. For most people, this indicates putting your property on various rental listing websites. Going online with your advertising is one of the most effective ways to find a new tenant. When you combine this with other forms of advertising, like hanging a “For Rent” sign out front or posting a flyer on a community board, you should have few problems getting prospective tenants to call on your property right away.
When, indeed, the phone calls start coming in, your next strategy is to screen each applicant. Even though this process can be a bit time-consuming, it is essential to start your screening process with the very first conversation you have with each caller. Prepare a quick description of your lease terms, expectations, and screening criteria and work it into that initial conversation. This will assist you to cut down on the number of unqualified tenants who submit applications. If, in any case, they pass the phone test and do send in an application, see to it to accomplish a thorough background check on every adult who will be living on the property. Also, it’s vital to collect and contact several references, specifically those prior landlords. A carefully planned screening process can support and help you narrow your options and bring the right tenant to the front of the line.
But, bear in mind, before you interact with any applicants or tenants, it’s necessary to have a clear understanding of state and local landlord laws. Understanding the laws that apply to tenant-landlord situations is vital since it can get you to avoid accusations of discrimination. Conceding that you can collect the information you want during the application process, avoid asking questions that may perhaps violate a tenant’s privacy. By prudently adhering to the Fair Housing Act and various other regulations, you can always stay out of court and potentially find that next ideal tenant in the process.
And finally, ascertain that you use good quality lease documents. Your lease is a legal contract that sets the terms of your tenant-landlord relationship. Your lease must be surely worded and detailed enough to cover each aspect of your agreement. At the lease signing, see to it that you’ll be collecting a deposit in the form of a cashier’s check or money order. Remember, either avoid accepting personal checks or have a system in place that will allow you to wait for the check to clear the bank before turning the property over to the tenant. So when you have selected the right tenant, they will have no problem completing the signing and payment process to your satisfaction.
If the idea of screening and managing tenants still feels overwhelming after these tips, try hiring a property management company, like Real Property Management Champion. We take all the daily hassles of rental properties off your plate, including tenant screening, queries, evictions, and so much more. Contact us today if you would like to know more.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
