Tips to Find Great Tenants for Your Rental Property

As a landlord, you need to be intentional with the kind of tenant you want in your rental property. Great tenants don’t come by accident; they come by design!

You need certain strategies to attract and retain them in your property. Good tenants will not only make your landlord journey smooth but also boost your bottom line.

The following are tried-and-tested tips on how to find great tenants for your rental property.

1. Draft a Proper Rental Ad

Create a rental ad that provides prospective tenants with all the necessary information while not being too wordy. Cover all crucial areas, including rent-related details, responsibility for repairs, guest and pet restrictions, and notice requirements. Remember to include high-quality photos as well.

It must align with the fair housing laws, though. In California, landlords must treat tenants fairly based on certain protected classes. Including, race, color, religion, sex, familial status, disability, sexual orientation, primary language, marital status, and immigration status.

If you’re drafting the rental ad yourself, consider having a professional property manager proofread it for possible issues. This is especially true if you’re renting out the property for the first time.

 2. Syndicate the Rental Ad Accordingly

You see, a vacant property is a liability. It’ll cost you money every month it sits vacant without a tenant in terms of repairs, mortgage payments, and property taxes, among other expenses.

So, once you have drafted a proper rental ad, begin syndicating it as widely as you can. Use as many platforms as possible for maximum reach. 

While online platforms and social media have become increasingly popular for rental advertising, some offline methods do still work great. Consider advertising on local dailies, community bulletin boards, and yard signs. You can also let friends, family, and acquaintances know you have a vacant rental available.

3. Make Needed Repairs

Quality tenants want a finished product. They can’t imagine living in a property that is in a dire state of disrepair.

Go around the property and test to see that everything works as it should. Inspect the flooring for any damage. Check walls and ceiling for cracks, holes, or water damage. Are windows and doors functioning as they should? Or, do they have damaged seals or insulation?

Is the electrical system working right? Check the wiring, outlets, and switches for both safety and functionality. Check the plumbing for clogs, leaks, and water pressure issues. Make replacements as necessary.

Don’t forget the curb appeal. Make it as inviting as possible. After all, the curb appeal is the face of your property. If it looks uninspiring, it may discourage prospective tenants from viewing the interior.

4. Do Your Due Diligence

Tenants are created differently! As such, do your diligence to ensure you rent to the most qualified tenant.

Your tenant screening process should go beyond just examining a tenant based on how much income they make. It should also focus on the potential tenant’s employment history, creditworthiness, and criminal status.

Additionally, you should also call previous landlords to learn a thing or two about the prospective tenant. Find out about crucial details, such as:

• How long was the tenancy?
• Did the tenant notify you that they are looking to move out?
• Did the tenant abide by the terms of the lease agreement?
• Did the tenant pay rent on time, every month?
• Did you make any deductions to their security deposit? If so, why?
• Would you rent to the tenant again?
• Did the tenant reasonably take care of the rental property?

5. Be Friendly but Firm

How you treat your tenants has a direct correlation to your success. Be friendly to your tenants to help build a solid landlord-tenant relationship. This can mean fewer vacancies, timely rent payments, and a tenant who treats the property with the care it deserves.

The following are some things you could do to be your tenant’s favorite landlord.

• Communicate clearly and effectively 
• Be responsive to the tenant’s inquiries or concerns.
• Have clear rental terms, rules, and expectations right from the beginning of the tenancy.
• Respect the tenant’s privacy.
• Respond to the tenant’s maintenance concerns promptly.
• Notify the tenant before entry.

At the same time, make sure you stay firm. Enforce the terms of the rental agreement fairly, equally, and consistently. For instance, if you charge fees for late rent payments, make sure to enforce them. 

6. Respect the Tenant’s Privacy

This goes without saying!

Once the tenant signs the lease, they automatically obtain the right to privacy. You’ll now need to notify the tenant before entering their rented premises, among other things.

In the state of California, you must give the tenant a notice at least 24 hours before entry. It must be in writing and must indicate the reason for and date of entry. The only exception for this requirement is in emergencies.

Bottom Line

With the right strategies, finding great tenants for your rental property doesn’t have to be complicated. Alternatively, you could hire an expert to help you handle everything on your behalf.

C&C Property Management is a full-service residential brokerage. We service the areas of Monterey, Carmel, Pacific Grove, Seaside, and the surrounding areas. Get in touch to learn more!