If the rental process is taking up too much of your time, then you might want to consider making some changes. Save yourself some time with these tips.
Tip #1: Automate Your Marketing
You may have already found that marketing online is an effective tool for filling your vacancies. If you’re creating property listings for listing websites, try a website that automatically syndicates your listing to popular listing sites. That way, you won’t need to create new listings on each website.
Tip #2: Reduce No-Shows When Showing the Property
It’s frustrating when a prospective tenant doesn’t come to a showing. To reduce no-shows when trying to fill your vacancy, have the applicant call you an hour prior to the showing to confirm. Another way that you can reduce the amount of time spent showing a place is to hold an open house. This tried-and-true realtor tool can be modified for landlords who have multiple applicants to meet.
Tip #3: Switch to an Online Application
Online applications save you time by making it easier for your tenant to get you the information you need. With an online application, you have all of your applicant’s information in an easy-to-read format. When you’re showing the apartment, simply direct your applicants to the link and they can fill out an application – even from their phone.
Tip #4: Screen Thoroughly
A comprehensive tenant screening will reduce your chances of having issues down the line that could result in an eviction. The best tenant screening involves a combination of a thorough credit & background check and doing a little of your own research. A credit check can indicate a tenant’s ability to pay rent and a criminal check can warn you of risk factors. There are also ways to leverage social media to help you get an idea of what your prospective tenants are like.
Tip #5: Collect Rent Online
Are your rent checks getting lost in the mail? If you’re still taking checks or cash, consider switching to an online rent payment system. Save yourself a trip to the bank and ensure that you get rent in a timely fashion. Plus, you’ll have a record of your transactions, so there’s no confusion for either party.
With these tips, you can streamline the property management process and spend more time on the things that you love — like unexpected maintenance issues!