Sometimes, when you are trying to rent your property, you struggle finding quality tenants. For many, they think the fix is to spend more money on advertising or market in more and different places. That is not always the case. This article covers some reasons that most people don't think about.
Rent Is Too High
If your property is currently advertised and you are not finding a tenant, you maybe asking too much for rent. The best thing to do is to check on competitors' rent prices and see how yours compares. If you have current tenants who are not treating your property properly or not paying rent on time, you could have the same issue. Simply raising your rent does not weed out bad tenants, you have to have a good tenant screening process as well.
Your Tenant Screening is Not Working
Are you going letting tenants rent your property without doing any kind of background check, credit check or references check? Or are you only doing some, but not all of those? Being thorough with tenant screening and getting to know your tenants before renting to them can help to weed out potentially bad tenants. You should also explain to them what is expected of them as a renter once you have screened them. That will set the expectation for your tenants early, and help those that don't think can meet your expectations let themselves out of the lease before they sign anything.
Your Property is Not "Move-In Ready"
We use the term "move-in ready" to describe a house that a tenant could get keys and move into today. If your property is not at the quality you want when your tenants move in, you can't expect them to meet that standard when they move out. Additionally, a property that is not "move-in ready" for a tenant can give them the impression that you don't care what it looks like. This can cause some tenants to get careless and leave your house dirty or damaged.
You are Not Responding to Maintenance
As a landlord, you have a responsibility to address maintenance issues at your property. You may not be able to fix everything the tenant asks for, but you should always respond quickly to their requests and fix emergencies as fast as possible. If the tenant doesn't feel like you are taking care of your rental property, they may stop caring as well. This may lead to needed maintenance that doesn't get reported, which can cause more expensive repair down the road.
You are Trying to Do Too Much
Sometimes, you simply can't take care of your tenants the way they expect. This may be because you are trying to juggle your job, family and property at once. If that's the case, consider outsourcing your property management to a quality property management company in the Fort Leonard Wood area. Take some time when interviewing potential managers and use this guide to help you confidently make a decision.