What makes a successful tenant?
The biggest stress of a landlord is the reality that you are choosing to put money into an investment and then give that investment over to another person as their home. Taking precautions during your screening process are the first steps to finding a successful tenant. Follow these basic steps to help you – and your tenants – have a good relationship.
1) Avoid Landlord Stigmas
There are a few stigmas associated with the rental business. Know the negative stigmas and know how to avoid them. Be professional in your relationship with your new tenant.
2) Have the Tenant Responsibilities Noted in the Lease
Your lease is an excellent way to protect your rental investment. Have everything detailed well that is expected for both you and the tenant. Being clear avoids all confusion.
3) Pet Owners
If you choose to eliminate pets from your rental, you will limit your prospective applicants. Additionally, you may also have your tenants choose to sneak their furry friends into the rental without your knowledge. This may end up leaving you on the hook if they cause damage to the property.
4) New Tenants
There are surreal common mistakes that landlords may make with new tenants. It’s better to have an idea what those common mistakes are so that you can avoid making them.
Idea: start by giving your new tenants a welcome letter. This is separate from signing a lease agreement. A welcome letter gives you the opportunity to provide the highlights of what is expected of them in writing. It also lays out easily what the tenant should expect from you.
5) Have a Checklist for First Time Tenants
When you are renting to a tenant that has never rented a place of their own before, there are additional pieces of information you may want to make clear. Such as items that they may not know how to care for. Providing a checklist of things to watch out for and little tips to help them with their first tenant experience with be a benefit to you and tenant.
Following these five tips will help your tenant and help you begin your relationship with the right foundational steps.
All my best,
Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.