As a rental property owner, one of the most critical parts of your job is finding high-quality renters for your property. Although this process can be time-consuming, property managers will tell you that it’s much better to find a good renter than settle on one that could lead to problems or lost rental income. In fact, a lousy renter can be more costly in the long run, so it's better to take a bit more time and resources upfront to find a better applicant. Our Palm Desert property management experts talk about four ways that owners can attract good renters that pay rent on time, care for your rental properties, and renew leases!
1. Keep the Rental Property Clean and Up to Date
Whether you handle everything yourself or use a Palm Desert property management company, keeping your rental properties in pristine condition is crucial to finding and keeping excellent residents. In addition to keeping things clean and well-maintained, investing in smart upgrades can be the secret to attracting better renters. If the unit is too bare or outdated, it can turn good tenants away.
2. Focus on Maintenance and Exterior Features
One of the biggest challenges you'll face as a landlord is keeping up with maintenance requests from tenants. Since you're not using the appliances or home regularly, it's much harder to know when something needs attention without input from residents or conducting routine property inspections.
A property manager can tell you that the most common maintenance issues include:
- Smoke detectors. Property investors should check smoke detectors at least twice a year and replace batteries to keep them operational.
- Water leaks. Plumbing issues can be a costly headache for property owners, mainly because landlord insurance can deny claims for faulty pipes. Be sure to have a plumber inspect the rental property once a year (or every other year) to see any potential issues.
- The water heater. How old is the water heater in the unit? If it's more than 15 or 20 years old, it may be time to replace it.
- HVAC systems. Dust and debris can build up in the vents, allowing mold and other allergens to spread quickly. Property owners should work with an HVAC technician to inspect and clean the system twice a year.
When rental property owners prioritize routine maintenance and quick responses to a renter’s maintenance request, they find (and keep) better residents!
3. Create a Comprehensive Rental Listing
Your rental listing is the first thing potential applicants see, so owners must make sure that it's comprehensive and compelling. When creating a listing, be clear about the rental amount, fees, the size of the home, number of rooms, and any worthwhile features that are in demand. Use professional photos to catch the attention of your next residents. Finally, highlight the neighborhood and nearby amenities, then make it easy for prospective tenants to fill out an application.
4. Offer Incentives
While incentives should be carefully considered, offering the right perks can help property owners find the best residents and keep properties in demand in a competitive market like Palm Desert. A property management company can recommend incentives, including:
- Utilities paid. A property owner can offer this benefit for some or all of the lease term. When offering paid utilities, be sure the monthly rental price covers your ongoing expenses plus estimated costs for electricity, water, trash, and more.
- Rent discounts. Offering a “first-month” rent discount can help bring more applicants to you when marketing a vacant rental property. However, be sure that your screening process identifies tenants who will pay on time every month after the first free month.
- Appliances and air filters. Providing a few home conveniences can make it easier for renters to pick your rental unit. For example, include an in-unit washer and dryer or schedule free air filter deliveries throughout the lease term.
When offering these types of small benefits, work with a property manager to follow through!
Don't Forget to Screen Every Applicant
Attracting excellent renters (and avoiding bad tenants) is only one part of reducing vacancies and maintaining consistent cash flow. Property owners must also screen every applicant to choose the best residents for rental properties! With a thorough screening process to learn about the rental history for a prospective tenant, real estate investors can enjoy better tenant relationships, monthly rental income paid on time, fewer instances of tenant-caused property damage, and better long-term returns.
Find Better Renters With a Palm Desert Property Management Company
Finding good renters can be challenging without the right strategies and a thorough tenant screening process. Working with a Palm Desert property management company will help you streamline your marketing and screening process, keep properties in excellent condition, and enjoy better tenant retention! When you’re ready to find your next residents, McLean Company is here to help. Reach out to learn more about our property management services!
