Managing Tenant Turnover: Streamlining the Rental Process
As a landlord, you may find it a bit challenging to deal with tenant turnover, as each time a tenant moves out, there’s a lot to do and take care of. Plus, once you find good tenants, you typically want to do what you can to keep them so you can have reliable people living on your property. Here are some things that can help you streamline the rental process and find success with tenants: Ensuring a seamless rental process involves various steps, including thorough background checks and referencing to report bad tenant, safeguarding your property and fostering a positive rental experience for both landlords and responsible tenants.
Make sure you screen tenants
As you face the experience of tenant turnover, you may be looking into new prospects. However, before you just let anyone live at your apartments, you want to be sure that you’re avoiding any issues with new tenants.
A great way to check in with the potential tenants you could allow in your home is to get tenant screening reports, so you can be confident that you’re renting to people who will treat your home well. The last thing you want is to deal with prompt tenant turnover because you end up with troublesome renters. Tenant screening can definitely help you avoid this.
Always have a lease in place
While you’re doing your best to deal with tenant turnover or avoid it altogether, you’ll want to make sure you have a very important component of renting out your property in place. A lease can protect you, your tenant, and provide clarity surrounding several things that can cause hiccups when it comes to tenant-landlord relationships.
You can include details like the length of the lease terms, who is responsible for what kind of damage and repairs, and what kind of things could result in a lease violation. A lease may take some work to put together, but it can go a long way toward helping you protect your property and yourself.
Use software to keep up with tenants
The best landlords these days know that to keep up with tenants and tenant turnover, reliable landlord software makes a world of difference. It can simplify everything from tenant-landlord communication to rental payments and more.
There are multiple options on the market, from TurboTenant to DoorLoop. Take time researching the various features that each one offers so that you can provide your tenants with the kind of reliable help they may need and also keep track of things that you need to be on top of with your property.
Hire a property manager
A reason for your tenant turnover could be that you have simply been too busy to provide the kind of support your tenants’ need, or perhaps you have left repairs unattended or let things fall through the cracks. You may run multiple companies and simply find yourself too busy to handle them all. That’s okay.
Instead of trying to do it all on your own, think about hiring a professional property manager who can help you take care of the property(ies) so that you can take care of the rest and reap the rewards of everything that you have going on.
Use reliable sources
While there are sites like Craigslist where you can find tenants, it’s not always the best option. It can be a bit too easy to rent out to tenants who are looking to get by without fulfilling their end of the bargain. Instead, check out rental sites that make it easier for you to appeal to the kind of market that you’re looking to rent to. If you want professionals to rent out your home, start looking in places where they “hang out” so you can find the tenants who will make it easy for you to receive rent on time every month.
In Conclusion
As you try your best to handle the ups and downs of tenant turnover and renting out your home, consider these tips above to make it a bit easier on you. While it’s not always guaranteed that you’ll find great tenants, these suggestions can help you do your best to do just that.
