Your goal as a landlord is to find the best tenants and high rent when you have a rental property in Denver, CO. There are a few things you can do to ensure you’re finding excellent tenants and earning the maximum amount of rent.
Pricing Your Property
You won’t get the best tenants interested in your property if it isn’t priced competitively. Before you set a rental price, look at how much competition you have, and what properties similar to yours are renting for. You need to consider the price as well as incentives that might be offered to encourage people to rent properties. When you know what you’re up against, you have a better chance of setting a fair price for your rental home, and attracting qualified tenants.
Pay Attention to Property Condition
You need an appealing property if you want to attract appealing tenants. Keep the home clean, functional, and looking good while it’s on the market. Don’t show the home when repairs are still needed. No one will want to move into a property that still needs work. Your property’s condition will determine whether the best tenants choose your home. It will also impact the amount of rent you can charge.
When prospective tenants call or send messages, respond immediately. If you miss a call, return it as soon as you can. Tenants have a number of houses to see, and if they are scrolling through lists on some of the available online rental sites, they’ll just move onto the next property when they can’t get a hold of you. Get them on the phone, schedule a showing, and do what you can to market your property. You don’t want to lose business by not being responsive.
Pay Attention to Laws
When you’re looking for a good tenant, be sure not to violate the Fair Housing Act. If you’re not familiar with this law, educate yourself and make sure you don’t find yourself violating it. Your municipality might also have regulations and laws that address smoke detectors and where they should be placed, as well as carbon monoxide detectors. Make sure you know how to use them and demonstrate how they work to your tenants.
Finding a great tenant and collecting the most rent is possible for any rental property owner. If you need help or have questions, contact Alborz Real Estate.
There is a lot more involved in finding a great tenant, but these items will help you get a great tenant at the highest rent amount possible. If you have any questions or you need help screening your tenants, contact us at Alborz Real Estate Company.