I know this will be an good informative article for anyone that can use some advice on how to find and keep good tenants when dealing with your rental property. First of all you can start off by running ads in your local newspaper on Saturdays and Sundays because the weekends are the time when most people read the paper and look for apartments and houses for rent.
I really do read the newspapers to check out different rental ad submissions and what I noticed is when people advertise their rental property they put the number of bedrooms, the location, the rent, and the security deposit. Also, they like to include one or two benefits that the rental property offers such as; are utilities included or not, conveniently located, newly renovated, close to a shopping mall or stores, location safe, location private or is there a nice view.
Normally after you advertised and bring in potential tenants, you want to start screening them. You must make up a list of questions to ask them ahead of time because you dont want to have the wrong tenants show up for the type of property you're trying to rent out. Your objective is to make sure you screen your tenants carefully.
There's nothing worse that accepting a tenant who later fails to pay the rent and damages your property. Not only do you have the hassle of evicting the tenant and making repairs, but you'll lose rental income along with everything else. To avoid an unpleasant situation, run a credit check and employment verification on them before they move in.
Some landlords dont do this type of screening but like I said earlier you want to be careful as possible. They call the previous landlord for references. You never know the current landlord may want this tenant out of his place as soon as possible, so his reference maybe shaky than the actual situation. You really can generate some great information from the tenants previous landlord.
Some landlords use a tenant screening service and believe me most people didn't think tenant screening services are out there. These tenant screening service offer national databases and can often find out if an applicant has a criminal record or has ever been evicted and they do charge a fee for this kind of information.
Now, after you have your tenant in place, it's a good ideal to set up an incentive for timely rent checks and this is something you dont have to do. Like a discount for early payments or penalties for late payment but you can only do this if your state allows it.
You should also set up a system for handling complaints. Tenants who complain about problems they can fix can cost you as much time and money as those who neglect to tell you there's a leak in the roof that's damaging the ceiling. Just to be on the same page of finding and keeping your good tenants specify in the lease what repairs and improvements are permissable, grounds for lease termination, and penalties if the lease is broken.
Colon Bolden is a full time internet marketer who works with other industry leading internet marketers from around the world. He specializes in helping others succeed in marketing online home businesses. For more information on continuous ways to profit other than the same traditional way, visit www.wenetprofitsglobal.com
Click the XML Icon Above to Receive Leasing Articles Via RSS!
