Landlords Tired of Wasted Viewings

It is the last day of the month and the doorbell rings. It is the tenant from 2B. The pleasant mature lady that has lived above you for the last 3 years is handing you her notice. She smiles, thanks you for being such a helpful landlord and informs you that she is moving so that she can be closer to her sister that is coping with some health problems. You wish her & her family all the best, thank her for her tenancy and invite her to call on you if there is anything that you can do to help. As you close the door, you start to dread the next 60 days. The gentle and kind woman that has occupied the apartment until now has been the model tenant. She was clean, quiet & never missed a rent payment. Now you are faced with the daunting task of trying to find someone to replace her. This will no doubt be a challenge at best.

Where does one start when preparing to select a new tenant? In addition to the standard “For Rent” sign that you may pop into the window or hammer into the lawn, you may talk with some friends or neighbors to see if they know of anyone looking to rent the place. If that doesn’t bring hoards of applicants to your door, you fire up the laptop and begin to look for a site to post your listing. The newspaper has long been the common place to post a rental listing but the convenience of the internet is becoming more and more popular among tenants.

 

Some property owners may contact a Real Estate agent that can list the rental. This option is ideal for landlords that are out of town or that cannot be available for showings or taking calls. Advantages to using a real estate agent include having a professional that is familiar with the area, market your property to potential tenants. An agent can interview the tenant, perform background checks and even get the lease signed. An agent’s rate to perform this service may vary so it is important to consider the cost in order to determine if this is an appropriate route to take.

 

For landlords that own multiple properties or who are simply not available to handle the day to day activities surrounding the investment, a property manager may be the answer. Property management can look after the maintenance on a rental by hiring contractors and trades. Individuals or companies that can perform repairs or regular tasks such as cleaning, snow removal and lawn care are commonly retained by property management firms. Other services would include marketing available units, screening potential tenants, collecting rent and following up on complaints or issues with respect to the building.  

 

Still many landlords choose to manage their rentals themselves. Although this may appear to be most economical method, the time that is spent creating ads, taking calls and meeting with tenants can become substantial. For those that are going to hunt down that perfect tenant on their own, don’t be afraid to load your listing with details about the property.

 

 The goal should be to acquire a good tenant, not to spend hours on the phone answering the same questions over and over. So let people know exactly what you are offering. If the apartment is somewhat small, then advising prospective renters that the space is suitable for a single or couple will save those with families from making a wasted trip to view the unit. If you know that the environment or neighborhood is popular with college or university students, you will probably not want to take the time to show seniors looking for a quiet retirement community.

 

Landlords that book appointments with informed tenants will find that those who come out are already pretty sure that the apartment is right for them. If you are getting allot of calls from people that are asking similar questions or showing the unit repeatedly and not having someone that wants to sign on, your ad is likely too vague. Good tenants are often people that are busy. Someone that works full time probably doesn’t have the desire to drive all over town looking at apartments. They like to narrow their search to a few places that seem to fit their needs the best. When they do go out to look at a place, they are prepared to take action and apply for the unit.

 

Another effective way of ensuring that those who apply will be accepted is to be up front about what is required from potential tenants. Stating in your ad that references, first and last months rent or a security deposit is required let tenants know exactly what they need to have in place before they will be allowed to move in. If you are open to discussions about move in dates or if rent terms are negotiable, it would be wise to state the details as well. This might attract a call that you would not have gotten otherwise.

 

In the end, a good tenancy is created when the tenant finds a place that suits their needs, lifestyle and budget. It may seem like you are discouraging contacts but in reality, you are making it easier for the right tenant to find you. The less sifting through places that are not what they imagined one has to do, the faster they can get to the one that fits them like a glove. If a resident feels at home in your rental, the months to come will be much more enjoyable for both of you.