Planning For Tenants in Gilbert Arizona
July 13, 2018
First-Timers, Get Ready!
We’ve been doing a series of blog posts on the planning and preparation involved in making real estate investments. If you’re just starting out as an investor in rental property, our staff at Austin Fleck Property Management is ready to offer its expertise. When it comes to house rental management, we have a good long history in the greater Phoenix, AZ metro area. And because we’re fully invested in our clients’ investments, helping you succeed in the ownership of your house rental is a winning situation for everyone.
First things first. Every successful business is built around good relationships. Knowing your needs and the needs of your tenants is paramount to establishing a solid foundation of trust. The tenants are, after all, the engine that powers your profits. So, what are the essential things to know and do when planning for new tenants?
You need to be able to find out the personal, financial, and rental history of potential tenants. At Austin Fleck Property Management, we have a rigorous screening process that we implement for each person who qualifies as a prospective renter. We cover criminal background checks, verify employment, payment histories, and more. It’s what professional property managers do to ensure that you’ll rent your home to good, responsible tenants.
You may have an exquisite rental property available, but if people don’t know about it, you’ll probably have trouble renting it out in a timely manner. And it’s not just about creating curb appeal. Understanding the market trends, the neighborhood, the demographics, the regional employment trends, and rental pricing trends are all essential if you want to get the best price and find suitable tenants who are seeking the qualities your investment property will offer them.
In order to jump-start interest in your property, when we handle your marketing we advertise it widely, using solid online and offline vehicles. Online we use quite a few websites related to the industry, including Zillow, Hotpads, Craigs List, Realtor.com, Rentals.com, and more. We also put up signs at the rental property. Our broad-sweep marketing campaigns are one reason we average 30 days from getting a property rent-ready, to the signing of a rental agreement.
A rental agreement is so much more than a handshake and a security deposit. It is a binding contract that spells out in detail the responsibilities of each party. It covers subjects such as the length of the lease, the price and due date for each month’s rent, the penalties for late payment and early termination, what to do about repairs, how many people can live in the home, etc. You can certainly use a lease example you found online—to which we say, “Good luck with that.” Instead, a proper lease needs to be drawn up by an experienced legal professional, especially since the laws and regulations change frequently.
Gentlemen, start your engines!
Those famous words begin the race. When you’re driving your race toward wealth, you need a good pit crew who knows how to prepare and maintain your vehicle. As a house rental management company that can handle the nitty-gritty details for you, Austin Fleck Property Management is ready to put you in the driver’s seat. Give us a call, and let’s plan for your success. Together we can be a winning team.