Featured Slider

5 Ways to Find a Good Renter for Your Home

 


image2.png


Whether you have recently become the proud owner of a second home or have been a landlord for a few years, finding good tenants is never an easy task. 


In addition to assessing potential renters for financial viability, the feat also requires you to analyze their sense of responsibility. At the same time, you need to perform these practices as quickly as possible. Otherwise, the delay can add to your vacancy rate and bring down your monthly revenue.


To help you manage all of these tasks in a timely manner, here are 5 ways to find a good renter for your home.


1. List Your Home as a Vacation Rental


One of the most popular ways to rent your home is turning it into a vacation rental. But this has its pros and cons. For instance, you can fetch more rent on a daily basis, but without the assurance of consistent income. Additionally, this approach often requires a heavier investment in comfortable and multifunctional furniture.


But if you think that this is a viable path for you, you can move forward with listing your home on vacation rental platforms. This can provide you with quick and easy rental arrangements. You just need to pay attention to turnover services, maintenance, and upkeep to keep receiving good reviews and tenants. 


2. Market Your Property as a Long-Term Arrangement


If you want to go the traditional route of a long-term lease, you can reap rewards such as consistent income. On the other hand, this monthly rent breaks into a lower daily revenue when compared to typical vacation rentals. Considering this, you need to make your decision quite carefully.


But once you have made up your mind, you can move forward with listing your home on traditional rental platforms. Performing an eviction background check will help you stay away from problematic tenants, while writing clear descriptions on your listing will attract highly interested parties. These practices can increase the chances of finding good renters. 


3. Contact a Real Estate Agent to Find Renters

image1.png


Besides looking at a vacation rental app or a traditional listing platform, you may move forward with contacting a real estate agent. This way, you can tap into a bigger real estate network, which makes it easier to find potential tenants for your home. While real estate agents may charge you a fee, the boost in the process is often worth the cost. 


With that being said, it’s critical that you do your own screening for potential tenants. This is especially important if you have spent a significant amount of money following home decor tips, and you don’t want your investment to be harmed by careless renters.


4. Ask for Renters Insurance


Renters insurance is a policy that covers tenants in case of physical damage or theft of property. Many of these policies cover damages to building additions and bodily injuries experienced on the property. This makes a renters insurance policy a remarkable protection mechanism for tenants and landlords alike.  


If you want to deal with tenants who carry minimal risks for your property, make it a point to ask for renters insurance. Due to sharing a similar profile to the importance of home insurance, financially responsible tenants often hold this insurance, while those who don’t can easily obtain it. This ensures that you are presenting a realistic requirement to potential tenants and not going overboard. 


5. Cooperate With Potential Tenants


In addition to being aware of necessary laws such as the Fair Housing Act, you should be generally cooperative with all potential tenants. If they have requests about big changes, such as kitchen renovations or small additions to bathroom hardware, provide them with a kind and honest response. 


This cooperative behavior works wonders in appealing to serious tenants. When your demeanor is polite and friendly, it ensures that your potential renters enjoy dealing with you as much as they like the property. This improves your chances of finding good tenants who are capable of taking care of your home like it is their own.


Following these suggestions can help you find good renters for your home without stretching yourself thin. In turn, you can ensure consistent income while steering clear of challenges such as high vacancy rates.


No comments

We love hearing from you! Thanks for leaving us some comment love! If you're a new follower, please leave your link, so we can follow you back!

Sleep Tight with Sweet Night!

New Year Sale - Up to 40% OFF