How do I rent my property to a good tenant? That’s something a lot of landlords and even property managers don’t know how to do. Today, we’re breaking down some things that can help you find renters who will pay rent, take care of your property, and follow their lease.
Fair HousingSo many landlords and property managers aren’t paying attention to fair housing. You can’t discriminate. You have to know what laws are out there, and who is protected. Visit the HUD.gov website or landlordassociation.org for good information. Landlords have come to me and tried to describe the type of person they want to rent to. You can’t do that because fair housing prevents it. Once you know and understand fair housing, you can advertise.
Advertise OnlineThe best way to find tenants is to advertise online. Many people use Craigslist, but I recommend you avoid that site. There are so many scams, and all property management companies and landlords are at risk. Use reputable rental sites instead. Use the normal social media channels, and do some paid sites as well. A good property manager will have software that syndicates your listing to a number of different websites. They’ll also email their database of tenants and past tenants.
What Do Tenants Look For?Make sure you’re presenting the home well, because tenants are looking for clean, well-maintained properties. Someone moving in will then treat the property well. If you don’t present the property well, people will believe that taking care of the home is obviously not important to you.
Screening and Leasing ProcessUse a good rental application and conduct a thorough screening. You’ll want to do a background check that includes looking for criminal history, past evictions, and credit. Ask for pay stubs and bank statements to verify income. A full background check will include landlord references. Hold a deposit, which will turn into a security deposit. You need a good lease as well, and an attorney who can help you enforce it. If you’re not enforcing your lease, you’re wasting money. These are the things that protect you as an owner. Your lease helps you set boundaries and expectations. The tenants need to know that they are respected and appreciated, but that there are rules.
If you have any questions about rental property management or how to find tenants, please contact us at Encompass Property Management. We serve Naples, Bonita Springs, Estero, Fort Myers, Cape Coral, and Lehigh Acres.