Basics of Property Management: Screening Potential Tenants

Basics of Property Management: Screening Potential Tenants

  • Price Your Home A Little Higher If It Has These Features

    One of the most important parts about listing your home for sale is determining exactly how much its listing price will be. To come up with this number, your real estate agent will conduct a thorough market analysis. This process will reveal what other homes in your neighborhood have sold for, as well as the sale price of homes with comparable features outside your neighborhood. In some cases, you'll want to price your home based on this analysis — but in other cases, you'll want to discuss some features related to your home that could allow you to price the home a little higher and still sell it quickly.

  • Three Things To Line Up Before You Get Ready To Rent Out Your Investment Property

    If you have decided to become a landlord and have purchased a rental property as your investment, there are a few things you need to do before you rent it out. You can't just place an ad online, rent your place out, and expect to sit back and collect the checks. If you do attempt this, you are going to run into a lot of trouble. You need to set up a few things before the first tenants sign their lease.

  • Expecting a Baby While Looking for an Apartment? 3 Things to Prioritize

    Raising a young family while living in an apartment can come with some challenges, but it is completely doable if you look into which features will make an apartment more appealing. If you're currently expecting a baby and anticipating that your family will be growing, you should look into which features you should be specifically looking for while hunting for an apartment. By knowing what to look for ahead of time, you can be confident that you'll be able to find an apartment that fits all of your desired criteria.

  • Ask Yourself These Questions When You Receive An Offer On Your Home

    Just as it's a big step to list your home for sale, it's also a big step when you finally receive your first offer. Typically, you'll have a certain amount of time to respond to the offer — 24 hours, for example — and it's advantageous to use as much of this time as possible to evaluate the situation. It might be tempting to quickly accept or decline the offer, but taking a day to ask yourself a series of questions can help you feel confident in making a decision that you can relay to your real estate agent.

  • A Few Ways To Save Time And Money When Looking At Homes For Sale

    Once you decide it is time to put up your home for sale and move to a new one, stress sets in. Part of the stress is related to finding the right home for the right amount of money. To make things easier, you should take a bit of time before you ever begin the search and figure out exactly what it is you need in a home. Consider bedrooms, bathrooms, storage space, and land.

  • 2024© Basics of Property Management: Screening Potential Tenants
    About Me
    Basics of Property Management: Screening Potential Tenants

    For the last several years, I've used a property management firm to help with my rental properties. One of the tasks that they handle for me is screening applicants who would like to move into one of my vacant units. Their expertise has helped me lower my tenant turnover and find people who want to stay with me for years. Part of the process is a tenant screening credit check. Before any further contact takes place, my manager orders credit reports from at least two agencies. That is enough to tell us if an applicant is a good financial risk. Assuming the references work out, I meet the candidate and make the final decision. If you own rental properties, let me tell you more about the benefits of having a property manager. I'm betting you'll find this type of arrangement will work for you too.

    Tags