Landlord Resources / Tips and Tricks Every Landlord Should Know
These little ideas can help Landlords get their properties rented faster to better qualified tenants and assist them in maximizing their rental income.
- Paint your walls a neutral color. Tenants are vanilla, while you may like color, houses with white walls rent must faster.
- Have a clean product. Most renters appreciate an older clean home over a more updated home that appears very dirty.
- Keep your rental price a few dollars cheaper than your competition. The better qualified and desirable tenant generally shops around.
- Make it easy for potential renters to reach you. Leave a number where a live person answers the phone.
- Make your move in costs lower, so that you appeal to everyone. You can always increase the security or ask for a last month for a candidate who doesn’t quite meet your normal requirements.
- Keep your pet policy always as a possibility, while disallowing aggressive breeds (unless your community does not allow pets). This gives you an opportunity to attract more potential renters, find one you like and ask for an additional deposit.
- Use extreme caution when a person comes to your property with cash and wants to move in that day! Most stable individuals plan ahead, giving their landlord notice and move in a matter of weeks to a month.
- Don’t rent to someone who knows more about Landlord/Tenant law than you. Be especially careful of the renter who says “they are moving due to a problem landlord!”
- Don’t judge a book by its cover. Always do your background checks! Criminals, sexual offenders and professional tenants look like you and me.
- Have your tenants execute a move in inspection form. This will help eliminate any disputes later on.
- Always use a written lease. Verbal leases are difficult to prove in a court of law.
- When renewing the lease, keep renewal fees reasonable. Renters will move elsewhere for what seems like nominal amounts of monies.
- Maintain the unit in good mechanical repair. Happy tenants will reside in your unit longer, making you more money.