Finding Tenants

Finding Tenants

Finding Tenants

Landlords need tenants but finding tenants that will take care of your rental can be a challenge. From curb appeal and the rental application to screening, background checks and everything else in between, finding good quality tenants isn’t easy. While there is certainly no shortage of renters in today’s market. Finding tenants who will respect your rental property, and pay the rent on time is even more important than actually renting your place out. 

After all, it would be a disaster if you rent to someone simply because they appear able to pay rent. Because in the long run, a bad tenant can be even more costly than having no tenant at all. While working as a landlord can sometimes feel like a never-ending list of responsibilities, the key to finding good quality tenants, is ruling out the bad ones. With this in mind, we offer some insight on how to find good tenants.

Attracting High Quality Tenants

The best way to attract high quality tenants is to have a high quality rental property in an ideal location at an ideal price point. It is better to spend a little more time searching for the right tenant rather than getting the unit rented out quickly and potentially dealing with an eviction later on. There are a number of things you can do to make your rental property more desirable to high quality tenants. For example, you can provide clear information to highlight your property’s best features, present a clean and well-maintained property, and represent yourself as a good landlord (by demonstrating good communication and organization skills).

Nice Place = Nice Tenant

Finding Tenants

Finding Qualified Tenants

While it may take a little time and patience, it’s worth putting the right tenant in your rental property. Just keep in mind to avoid violating the Fair Housing Act! To ensure you avoid this, make sure to apply your rental application criteria equally to all applicants. Also, make sure that your determining factors are measurable. As an example, the rent to income ratio and credit score. Prior to listing your rental or conducting a showing, it’s important to have an idea of what kind of tenant you want. For this reason, lay out your tenant criteria beforehand. This will help you narrow your focus so that you can find, qualified tenants for all of your rentals.

Finding Tenants: Create A Compelling Listing

In your neighborhood, it is likely you’ll be competing with other available listings. For this reason, it’s important that you create a compelling listing. While pictures provide a visual to your front door, the headline is the most important part of the listing. In fact, the headline (title) is so important it can either make or break your listing’s effectiveness. Because, 4 seconds is all you have to grab someone’s attention before they decide to read it, or move on. So, rather than creating something that is gimmicky, create a listing that is compelling. To do so, follow this guide:

Create A Compelling Headline: 

    • List out the key factors of your rental
      • Price
      • Number of bedrooms
      • Number of bathrooms
      • Neighborhood
      • Amenties
        • Example Headline: $2,500 – 2 Bed / 1 Bath Condo in East Village with updated kitchen and city views

Create A Compelling Description: 

    • Highlight the best features of your listing (city views, granite countertops, pool)
      • Use a good description of the property itself (charming, updated, spacious, modern)
      • Make sure to mention nearby attractions (Balboa Park, coffee shops, parks)
      • Be sure to mention details about the property itself

Capture Compelling Photos: 

    • Pictures provide a visual to your front door
      • Remember, your pictures are worth a thousand words
      • They allow prospective tenants to picture themselves living at your property
      • Capture beautiful photos in every room as well as the exterior

Finding Tenants Is Only Half The Battle

Finding tenants is only half the battle, the other half is qualifying them. While throughly screening all prospects is a no brainer for most, it’s actually one of the most common mistakes landlords make. For this reason, take tenant screening seriously! Remember, prevention is the better cure for most things. Here are some effective screening procedures to help you find the highest quality renters: 

Screening Tenants: 

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Conclusion

Remember, you don’t need to spend your valuable time on unnecessary and frustrating problems caused by renting to the wrong people. Instead, focus on how to find good quality tenants with compelling listings, and reliable tenant screening services. Because renting to the wrong person can put your business at risk, you may want to consider hiring property management company to help you.

If you prefer to handle the day-to-day management of your property but you do not have the time or availability to market and show vacancies on a moment’s notice, nor the expertise in choosing a new tenant and preparing the proper documents, our leasing services are perfect for you! So, whether you are interested in changing property management companies, or simply looking to hire one for the first time, we offer tailored property management services to meet your needs. Call us today at (858) 576-2176 to get started, we manage single-family homes, condos, and multi-family properties throughout San Diego County.