The sun is shining longer, the days are getting warmer, and for landlords, it means the summer rush is about to be upon us. If you own multiple properties, and you know the summer will bring a turnover of renters, it is time to get things in order and prepare for the rush. Summer rental markets can be competitive, hectic, and involve a lot of work on your part. The best way to handle the rush of summer is to be organized with a plan of action.
Don’t let your summer slip away with you buried under piles of paperwork. Instead, organize your system and carve out some time to enjoy the long summer days. Find out the best ways you can prepare below, including how our landlord software might be just the ticket you need.
First, Assess Your Properties
The first thing you should do is determine what properties you will need to put back on the rental market. Check in with tenants if you are uncertain whether or not they are staying.
Once you know who will be leaving, spend some time assessing the properties. Make sure you follow any local guidelines for giving your tenants the proper amount of notice before you show up to the properties. Although you will want to do a walk through once your tenants move-out to ensure you don’t miss anything, you can start now with a rough list. A quick inspection will let you know if there are any major repairs that will be needed before a new tenant can move-in.
Next, Get Those Rentals In Shape
While getting yourself in shape for the summer might be top on your list, don’t forget about your properties. Take care of any major repairs you recorded from the above step. If you know maintenance items will need to be addressed before new tenants move-in, such as changing out HVAC filters, performing A/C tune-ups or other tasks, schedule them in advance.
Now, Create A Seamless Plan
Once you have done as much as you can for your properties while they are still occupied, it is time to create a game plan for how you will fill those vacancies. The goal is to create a large applicant pool from which to choose. The more applicants you have, the better chance you have of finding a qualified tenant.
Your plan needs to include the following items:
- An effective method for advertising your rental property
- An organized system for rental applications
- A seamless tenant screening process (ideally including credit reports, criminal background checks, and eviction history reports)
- A move-in checklist
The best method is to implement an online landlord software so you do not find yourself buried in paperwork. This is particularly true if you own multiple units. An online rental application process tied to your property listings can ensure you do not mix up paperwork or lose important information from applicants.
Finally, Start Marketing Your Properties
After you have your plan in order and you know the steps you need to take, it’s time to get to work. Start by creating compelling property listings for your rental and then list your property across the web. With people turning to the internet to find everything from the nearest hair salon to the best pizza joint to a rental home near their job, it is imperative you have a strong online presence.
Make sure you are posting across an array of property listing sites, as well as the rental classifieds on Craigslist.
Make sure your property stands out from the crowd. The best way to make your property more attractive is to create detailed descriptions that highlight the best features of your property. For example, which of the following two property listings do you think would attract more applicants?
Charming Home For Rent
This home is charming and the perfect place for you to reside. Has a nice yard in a friendly neighborhood. Asking $1,500 in rent. Tenant pays utilities.
3 Bedroom Home Near Historic Downtown Now For Rent!
This three bedroom, one bathroom home is located within walking distance of historic Old Town Fort Collins. With 1,500 square feet and a fully fenced in yard, it is the perfect location to call home. This rental property is dog and cat-friendly. The backyard is the perfect place for your four-legged pal to play fetch, and the patio is ideal for a summer evening meal.
The wood flooring and carpeting have all been recently updated. Even though the home was built in 1886, important modern amenities have been added such as:
- A gas-fired-on-demand water heater
- A brand new refrigerator
- An irrigated lawn
- A dishwasher
- A gas range stove
- A washer and dryer
If you are interested in this property, please contact us for a showing.
Rent is $1,800 per month, with tenant responsible for gas, electric, and trash services. A security deposit of $1,800 is required upfront, as well as a $200 pet deposit for each approved pet.
It is obvious that the second description will attract more applicants. Remember, people who are hitting the summer rental market are perusing countless rental ads. You want yours to stand out and provide them with useful information upfront. This will also save you time during the showing process. When your description is minimal, you might wind up showing the property to parties who arrive and decide they aren’t interested after all because they didn’t realize something important such as the number of bathrooms or your policy on pets.