Preparing Your Investment Property for Quality Tenants

Do you have a vacant investment property and are wondering how to best secure quality tenants? Whether you have a vacation property or local neighborhood home for long term rent, follow these recommendations from the real estate professionals and you’ll have a tenant signing a lease in no time!

A top quality tenant will have expectations for a top quality property. Take a critical look at the exterior of your property. Address any deferred maintenance issues and update the landscaping as needed. Replace the mailbox, light fixture and house numbers as needed. The interior of the property should be spotless. Give a thorough cleaning to the bathrooms and kitchen. Repaint living areas and bedrooms as needed. If your property is a weekly or monthly vacation rental, furnishings should all be in good condition, comfortable and appealing. Ensure the kitchen is stocked with quality cookware and dishware. Would you want to stay in the home?

Create a specification sheet with as much information about the property as possible. This should include bedroom and bathroom configuration, square footage and amenities. Take plenty of photos and showcase them on the spec sheet. If the property is a long term rental, specify the terms of the lease, application process and availability date.

Research reputable online rental websites for long term rentals and vacation rentals. Include all the information from the spec sheet on the online property description as well as photos.  When receiving inquiries from prospective vacationers or tenants, be sure to follow up promptly.  Your response rate is a reflection on the desirability of the property. For short term rentals, take advantage of the savings offered by Groupon coupons and enjoy the ease of Intuit-GoPayment for ease of collecting rent and keeping track of property expenses.

After tenants have been screened and secured, make a habit of following up with them several times a year for long term rentals and at the conclusion of their stay for vacation renters. Every business person likes to have repeat business. Best of luck to you!

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