Tenant Placement Survival Guide for Winston Salem Property Owners
If there was a show about landlords, it would be ground-breaking and intense. Landlords experience a lot, and surviving in the industry is not for the faint of heart.
Finding the right tenants to rent your property can make things a bit easier on you. Following the right steps for tenant placement in Winston Salem, North Carolina, is the key to success. Keep reading to learn what to do.
Vacancy Marketing
The first step in tenant placement is marketing your property to a wide audience. Get the word out when you have vacancies by posting on your website or a rental property management site.
You can also advertise online using social media. The more people who know about your availabilities, the better chance you have at finding ideal tenants.
Screen Tenants
Applicant screening is essential to the placement process. You need to make sure the person moving into your property is a good fit and meets all your criteria.
When you hire a property management company in Winston Salem, you benefit from tenant screening services. Professional property managers will screen all applicants to provide these insights:
- Background checks
- Credit checks
- Income verification
- Rental history
Asking tenants for employer and past landlord references provides you with indicators of their future behavior. If an applicant has a history of breaking the lease, they may do the same with you.
Conduct an Interview
A serious applicant will likely want to tour your rental property before applying or signing the lease. Use this time to conduct an in-person interview to get to know your potential tenant.
Meeting someone in person is a good way to discover if they will be good tenants. If you've been in the industry for a while, you likely have a knack for this stuff. If you don't, a property manager can handle it for you.
Ask questions about rental history and other relevant details about their life. Verify the information you hear to ensure it is accurate.
Establish Lease Terms
Lease negotiation might be necessary during the tenant placement process if you are desperate to fill a vacancy. You should still work to find a good tenant, but you might be more lenient in your lease terms.
Being open to negotiation can also lead to a more satisfied tenant.
A lease agreement should include the duration of the lease and what tenants can do on the property. A professional property manager with legal experience can create the lease and review it before either party signs.
Outsourcing lease agreements to property management companies ensures you won't miss anything important.
The Steps to Strong Tenant Placement
The tenant placement process can be tedious. These steps are necessary to ensure you have a quality tenant moving into your unit.
Don't have the time or resources to go through the tenant placement process with every applicant? Leave it to us!
PMI of the Triad is a full-service property management company with the highest quality services. We can keep you informed on how your investments are doing in real time, and that starts with great tenants.
We are dedicated to providing clients with the real estate services they need. Contact us today to benefit from 20 years of experience.
