People call or walk into our office every couple of days asking if we have any rentals. Occasionally the answer is, “Yes.” However, more often the answer is, “We just rented our last home.” Followed by, “We are always looking for more rentals so please keep an eye on our website.”
Remarkably, we have so much demand for rental property some homes are rented before they make it to Facebook Marketplace or Zillow or Apartments.com. We often rent two or more homes from a single, similar listing. How is that? Easy…
We have applicants lining up.
Say, Rental 1 came onto the market a week ago. Applicant 1 is well qualified. We are finalizing the rental agreement, but it’s not signed, so we must leave the home on the rental market. Meanwhile, long time Tenant A in Rental 2 gave notice. They received an incredible job offer out of state.
Today, on the same day that Tenant A gave notice, Applicant 2 filled out their application for Rental 1. On previewing their application, Applicant 2 is also well qualified, though still needs to be fully screened. We tell Applicant 2 about coming Rental 2 and they agree to go see it. Applicant is excited about Rental 2 and wants to proceed with the screening process. See how easy that was?
Are you thinking of renting your home?
Of course, renting a home isn’t as easy as I’ve made it sound above. Sure, it is possible to accidentally get a great tenant. It’s also possible to get a terrible tenant.
Proper screening is a very important part of the tenant placement process, but it’s not the only part. Contracts are equally important. Also, once the tenants are in place, rents must be collected. Finally, keep your tenants happy by handling maintenance requests.
Perhaps you have been toying with the thought of renting your home. If that is the case, we can help.