Tips For Securing Tenants For Investment Properties

Do you have an investment property that is vacant?  Investors and landlords often wonder if there is a special trick to attracting quality tenants that will not only take care of the property but pay the entire rent on time throughout the duration of the lease. Follow these recommendations from the property experts to secure a quality tenant for your investment property.

The most important piece is to prepare your property for rent. If the property is a single family home or townhouse, take a critical look at the curb appeal.  Address the landscaping. Ensure that the lawn is mowed on a regular basis. Shrubs should be trimmed away from windows and walkways. Address any deferred maintenance with doors, shutters and gutters. Put a fresh coat of paint on the front door and update the house numbers. First impressions are enormous for prospective tenants. Many will not even get out of the car if the property is not in good condition and well maintained. If you’re looking for a quality tenant, you need to have a quality property. The interior of the unit should be professionally cleaned. This includes flooring, bathrooms and kitchens. Address any deferred maintenance items in the interior as well.  All appliances, including the heating and air conditioning systems should be serviced.

Create a spec sheet for the property. The specifications sheet should include basic room counts and square footage. List the amenities available in the neighborhood and surrounding area. Research the school system and indicate the schools for which the property is zoned. This information is especially important for families.  Take plenty of pictures of the property and include them on the spec sheet. Have copies of the lease and tenant application available at the property for prospective tenants to complete.  Suggest a drawing for all applications completed. Take advantage of the deals offered by Groupon coupons and purchase a gift card from Express. This can be given to an application drawn from a file.  It will certainly entice prospective tenants to follow through with the rental process. Follow these guidelines and you’re sure to secure a quality tenant in short order. Best of luck to you.