Finding your best tenants will require some great marketing, a well-maintained and attractive home, and the right rental value. Retaining those tenants is easy when you respond to maintenance promptly, provide conveniences such as online rental payments, and communicate openly and transparently.
Placing a well-qualified tenant quickly and retaining that tenant is important for your investment success. You’ll lose less money on vacancy and turnover. You’ll ensure a steady and recurring form of income is always received.
When you’re renting out a home in Arcadia, here’s what you need to focus on in terms of finding and keeping tenants.
Attracting and Placing Arcadia Tenants
A high-quality tenant will have a huge impact on your rental experience. To attract and place the best possible tenants, pay attention to marketing and screening.
- Marketing. Effective marketing includes professional-level photos, concise descriptions, and a syndicated listing that reaches the maximum number of potential tenants. Answer your phone, respond to messages, and be proactive when it comes to scheduling showings. Follow up with prospective tenants after they’ve seen the home. Find out what they liked or what didn’t really work for them. This feedback will help you determine whether you need to adjust your price or reference something specific in your advertising.
- Tenant Screening. Your screening process must be compliant with all state, federal, and local fair housing laws. It has to be consistent. To find great tenants, establish your rental criteria and provide them to prospective applicants when they see your property. While screening, we recommend you look at credit to be sure there aren’t any outstanding debts owed to former landlords or apartment buildings. Check for a positive rental history and talk to landlord references. Verify income and make sure it’s enough to cover the rent.
Get the rental experience off to a positive start once you identify and place your tenants. This will contribute to the next part of your tenant plan: retention.
Arcadia Tenant Retention
When you retain your Arcadia tenants, you avoid expensive vacancies and turnover costs. Responsive maintenance, good communication, and an easy rental experience will help you keep your best residents.
- Maintain your Arcadia Rental Property. Maintaining your property leads to higher tenant retention. Focus on preventative maintenance and respond right away when your tenant makes a request, even if it’s minor. You want to know when something is wrong at the property.
- Develop a Positive Tenant Relationship. Develop a good relationship with your tenant. There’s no need to become best friends; you want to maintain strict boundaries. However, you should know them well enough to keep the lines of communication open. Be responsive and available when your tenants need to reach you.
- Provide Great Technology and Ease. Offer technology and other conveniences that might benefit your tenants. Online rental payments are a big deal for tenants. They want a system for reporting maintenance online.
With the best tenants in place, you can count on a simple, profitable rental experience. There’s less drama. Fewer late payments. Rarely a need to worry about eviction or property damage. It’s worth it for owners to invest in finding and retaining tenants.
If you’d like some help managing tenant relationships, please contact us at ZenPro Property Management. We’d be happy to share more tips about managing Arcadia rental properties.