The single most important thing that you do as a landlord or Escondido Property Management company is recruit high quality tenants. If you can do this one function well, you can do everything else poorly and still be a successful landlord. However, if you do a terrible job of choosing tenants, you’ll fail as a landlord and regret the day you became one. We’re sharing a few of the processes and tips we use to help us recruit great tenants.
Promote and Advertise Properties
Our first step is to create professional ads, including nice pictures, and to put those ads onto 110 real estate websites, where we know tenants are looking. We also put up a lot of signage where appropriate. This gives us the pick of the litter. We attract a lot of people to the property, and we have a great pool of tenants from which to choose.
Conduct a Detailed Tenant Screening
Once we have an application, we screen the tenants. This includes a credit check, a criminal check, a look at eviction histories and a check of Megan’s Law. We also talk to current and former landlords, employers, and we call the applicant’s references. All of this information is gathered, and then we evaluate it thoroughly. No stone is left unturned. We ask for copies of paychecks and the last two months of checking account statements. We also check an applicant’s driver’s license, to make sure they are who they say they are.
Stay Available to Potential Tenants
It’s important to be available seven days a week. The perfect tenant might want to look at the property on a Saturday, so someone needs to be available. We use a great technology platform that helps us stay available around the clock. We use Rently, which is a satellite driven lockbox. We put it on our properties and tenants can use their phones to get in and look at the property. They pay 99 cents for a one-hour window when a property manager is not available to show the home.
Our video on what constitutes a quality tenant will help you determine what you should be looking for. If you have any questions about the tenant screening process, please don’t hesitate to contact us at Francis Taylor Property Management in Escondido.