Another year is winding down, so it’s time to make some resolutions for the new year. Why not resolve to make things easier on yourself as a landlord? We’ve put together some key resolutions, along with tools to help you keep them. It beats getting a gym membership, right?
Resolution #1: Spend more time doing what you love…
…and less time trying to fill your vacancies.
The first step to finding good tenants is to make sure that they can find your listing. Post your listing online so that more people will see it and you’ll get more leads. Use sites like Zillow, Trulia, Rent.com, Apartments.com, and Craigslist. Follow up with your leads quickly and make it easy for them to apply to your property. And, of course, screen your tenants. The best way to screen tenants is to run screening reports, like credit, criminal background, and evictions. Follow up with calls to references and taking a look at your applicants’ social media profiles.
Looking for more tenant screening tips? Download our free tenant screening guide here.
Resolution #2: Get paid on time
Leave the frustrations of late rent payments in the old year and start getting paid on time in the new. Come up with a plan of attack to help your tenants pay rent in a timely manner. Have a clear payment policy in place so that tenants know when rent is due when it is considered late, and what the late charge is. Consider setting up online payments and/or automatic payments to make it easier for renters to pay on the go. Want more tips on rent payments? Take a look at these articles:
- 3 Ways to get Tenants to Pay Rent On Time
- 4 Things to Consider with Partial Rent Payments
- Dealing with Late Rent Payments
Resolution #3: Go green with your property
Want to do something good for the earth? Go green with your rental property. It’s easy and it can make your home more energy efficient. Plus, it can save you more money in the long run. Start out small by making changes. Here are some ideas to get you started:
- Swap paper applications for an online application.
- Switch to LED or fluorescent light bulbs.
- Get a home energy audit to see how you can make your home more energy-efficient.
- Use eco-friendly cleaning products
Happy New Year, everyone! We wish you all the best in the upcoming What are your resolutions for the new year?