As we have told you before, at Cavalier Estates we believe that the key to being an effective landlord is finding the best tenants. If you have a tenant who is willing to take some extra steps to keep the property looking good, you will probably be able to put that tenant to work towards the end of the tenancy as well. You can get your property rented out quickly by asking the tenant who is leaving to help you show the home. As soon as you get notice from your tenants that they are moving out, you need to post a sign and get that place back on the rental market. Find out if your tenants are willing to help you keep it looking rent ready and show the place to potential applicants.
We do a lot of prescreening when people call for information on the property we have available. Once we get an inquiry from someone who appears to be qualified, we allow the current tenant living in that property to schedule with the person who wants to see it. This will save a lot of time and hassle and it effectively takes out the middle man, who happens to be the property manager. Trying to work around everyone’s schedule and agree on a date and time is nearly impossible, so we just leave it to the current tenant and the potential new tenant. When you ask a few pertinent questions and pre-qualify renters who call you for information on the place, you can put them in touch with the tenants who are moving out.
Remember that the current tenant will be able to show the property better than anyone else, including the professional property manager. The tenant can answer questions, let potential applicants know how much the electric bill runs every month and assure them that the place is a great home to live in. Your current tenants can also give you feedback on the people who come to see the place. They can tell you what they drove, how they dressed and whether the kids were well behaved or anxious to tear the place apart.
You know you are doing something right if you can turn that property away immediately. When your old tenants move out on the 31st of one month and your new tenants are coming in on the first of the next month, you will not skip a beat when it comes to rental income. Many property managers think this is impossible, but I actually did it eight times last year, and if you have the right systems in place and the right tenants in your property, it can happen.
Obviously, this only works when you have a great tenant in place already. You will need to show the place if the property is vacant. You don’t always have to show the property in person. As long as you get valid identification from potential tenants and you know they are at the house, you can give them the code for the lock box and let them take a look around. Most people prefer the freedom this allows.
If you have any questions about how to ensure your properties are rented out quickly, contact us at Cavalier Estates.