As a savvy property owner who’s decided to self-manage your rental properties, you’re already a RentingSmart hero. But, let’s face it – one of the most nerve-wracking parts of being a landlord is finding reliable and trustworthy tenants. The responsibility falls squarely on your shoulders. Fear not! We’ve got your back with these five tips that will help you find the perfect tenants for your properties.
1. Craft a Stellar Listing: Think of your rental listing as your property’s online dating profile. You want it to stand out in a crowded digital world. Highlight the key features and amenities that make your property a great catch. Be clear about the rent, security deposit, and any other costs. And don’t forget the photos! High-quality, well-lit images can make a world of difference. They give potential tenants a clear picture of what to expect and can attract the right people to your property.
2. Set Clear Expectations: When you’ve got inquiries rolling in, make sure you set clear expectations right from the start. This helps filter out tenants who might not be a good fit. Provide a brief description of the ideal tenant you’re looking for – someone responsible, respectful of neighbours, and with a stable income. This will deter those who don’t meet your criteria from wasting your time or theirs.
3. Thoroughly Screen Applicants: Without a property manager, the onus of tenant screening falls squarely on your shoulders. This step is crucial in ensuring you find trustworthy tenants. Request a comprehensive rental application that covers employment history, income verification, rental history, and references. Don’t be afraid to ask tough questions – it’s all part of getting to know your potential tenants better.
4. Check References and Rental History: A tenant’s rental history can tell you a lot about their behaviour as renters. Contact previous landlords to get insights into their reliability, cleanliness, and adherence to rules. This can give you a better sense of what to expect. Similarly, checking personal references can provide additional insights into their character. A responsible tenant is more likely to provide you with references who vouch for their reliability.
5. Meet in Person: As much as technology allows us to do things remotely, meeting potential tenants in person is still a must. Schedule a showing and use this opportunity to gauge their personality and behaviour. Are they respectful of your time and the property? Do they ask thoughtful questions? This face-to-face interaction can give you a gut feeling about whether these are people you can trust with your property.
Bonus Tip: Trust Your Gut: Intuition isn’t just a magical feeling – it’s often your subconscious processing information and giving you an instinctual response. If something about a potential tenant doesn’t sit right with you, don’t ignore it. While it’s important to base your decisions on facts and figures, your gut feeling can sometimes save you from trouble down the road.
Self-managing your rental properties may seem like a daunting task, but with the right tools and strategies, you can find reliable and trustworthy tenants without the need for a property manager. By crafting a compelling listing, setting clear expectations, thoroughly screening applicants, checking references and rental history, meeting potential tenants in person, and trusting your gut, you’ll be well on your way to building a successful and stress-free rental property business.
Remember, RentingSmart is here to support you every step of the way. Our affordable software is designed specifically for landlords like you who want to self-manage their properties with ease. From tenant screening to rent collection, we’ve got the tools you need to make your landlord journey a smooth and rewarding one. So, go ahead – find those fantastic tenants and build your rental property empire with confidence! Learn more about our philosophy and check out our pricing structure.