Attracting & Selecting Great Tenants: Strategies & Tips
If you know someone who would be interested in content like this, please forward this email!
Attracting prospective renters and selecting tenants carefully is an art form as much as a science. There are always ways to improve our processes and run our businesses more successfully by doing so. Over the last few weeks we’ve been focusing on advertising vacancies and refining the tenant screening process. If you haven’t seen our most recent posts, here they are!
How to Create Successful Advertising to Attract Tenants
A rental vacancy is one of a landlord’s worst nightmares. Having your property vacant means having no cash flow while you continue to bear maintenance and mortgage expenses. A rental property that is vacant for even a month could cost a landlord a whole year’s profit. Therefore, it is very important to attract reliable long-term tenants. In this article, we will be discussing some marketing strategies to use when advertising your rentals. The good news is that most of these options are completely free!
Related: Best Free Ways To Advertise Property For Rent
Questions You Need to Ask During Tenant Screening
Asking the right questions in the screening process is a critical step to finding the best tenant for your property. These questions allow you to evaluate whether an applicant can meet your expectations. Most seasoned landlords even recommend asking pre-screening questions at first contact, before even showing a unit, let alone conducting background and credit checks. We suggest some questions to help optimize your tenant screening process.
Related: Best Pre-Screening Questions to Ask Potential Tenants
Tips to Take the Guesswork Out of Tenant Screening for Independent Landlords
Being a successful landlord requires that you avoid problems such as late or missed payments, evictions, and property damage. Developing a careful tenant screening process helps ensure that your property remains, profitable, desirable, and safe. Setting rental criteria, asking the right questions, calling references, and reviewing background & credit reports are all elements in the selection of great tenants. This post deals with the importance of each, and gives tips on how to run a highly effective screening process.
Related: Rental Criteria Checklist for Screening Prospective Tenants
Let us know if you have suggestions for any other topics related to landlording or property management. Send us an email at: firstname.lastname@example.org
If you know someone who would be interested in content like this, please feel free to forward this email to them.
Eli and Chris
Disclosure: Some of the links in this post are affiliate links and Landlord Gurus may earn a commission. Our mission remains to provide valuable resources and information that helps landlords manage their rental properties efficiently and profitably. We link to these companies and their products because of their quality, not because of the commission.