Ways To Attract Tenants #1

To attract good tenants your property needs to look better than other properties they have looked at. Clean inside and out paint where needed and a well kept yard.

Ways To Attract Tenants #2

Advertise in your largest newspaper. Place a large ad to attract attention and your home will be leased quicker.

Make sure you can be reached at their convenience so put home and work phone numbers in the ad as well as all the good points of your property. Make your property sound as positive as you can, but be truthful.

Ways To Attract Tenants #3

With a good ad you should have more than enough potential tenants. Prescreen during the phone inquiries. Income, number of people to occupy the home, how often they move around. List of credit references. Where they have lived. Previous landlord problems. If they sound negative about any part of the conversation you may end up with a problem tenant.

Ways To Attract Tenants #4

After screening perspective tenants it's time to meet them to get a feel on how they will take care of the property. If you are at at this point you should already have an idea of income requirements and credit score. Make sure you get a copy of your state Landlord - Tenant laws. It is your property but the government is making it harder for you to rule out tenants for specific reasons.

Ways To Attract Tenants #5

Check employment history, rental history, credit history. If you allow pets, their ability to come up with the pet deposit as well as the security deposit. What you want in a tenant is one that makes good money and a good credit rating.

Ways To Attract Tenants #6

A way to measure income to rent ratios is to do it the way lenders do. Their gross income should be a least 3 times (or more) rent payment.

Ways To Attract Tenants #7

Check their employment and make sure they don't go from job to job. Their last 2 jobs have been over a year each. Talk to the previous landlord and neighbors.

Ways To Attract Tenants #8

Make sure you get all monies up front. First and last months rent and all deposits, security and pet. This is normal practice which they should be aware of. If they don't have it up front it's probably a sign of future trouble.

Ways To Attract Tenants #9

Have a lease agreement and property inspection report signed. List everything necessary in the agreement including late charges if the payment is over so many days late. There will also be remedies if the tenant breaks the lease. Lease/rental agreements are readily available and usually contain all the wording you will need. There are advantages to having no lease agreements. With no lease agreement you can raise rents when needed.

Ways To Attract Tenants #10

When tenants move in do an inspections report filling in everything that is right or wrong with the property. Have them sign it. Upon termination of the lease do a move out inspection report with them showing anything that needs doing beyond reasonable wear and tear. At this point they can go back and fix any problem or have it taken out of their security deposit.