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Finding the Best Tenants for Your First Rental Property

September 12, 2016 by Traci

 

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If you’re like many other entrepreneurial spirits in the country that have decided to invest in real estate and rent it out for profit and supplementary income, you’ve likely realized this endeavor comes with its fair share of challenges. As you begin your journey as a landlord, there are many stressors and factors to consider. However, few are as important as getting off on the right foot and finding the best tenants for your first go-around in the rental industry. Taking the time and investing the money into searching out the best renters can change the entire experience and mean the difference between your success and failure as a landlord. Before handing over that lease for signing, keep these facets in mind and avoid the nightmare tenant you’ve always feared.

Advertise the Right Way…In the Right Place

Taking a few photos with your smartphone and throwing them up on Craigslist will see you with some responses, but if you’re looking for quality, you need to provide it. Borrow a friend’s high quality camera (or invest in one yourself!) or hire a professional for an hour to get high-quality imagery of the property. This will automatically provide your listing with a professionality that will attract higher-paying tenants. Take your time to write up a quality property description. Consider all the amenities offered, and provide all of the details tenants are looking for. Once you’ve refined this description and you have numerous photos, it’s time to examine the options for placement. While you can still utilize free sites like Craigslist, it’s a great idea to pay a small nominal fee to use higher quality sites. You can make up for the cost in application fees for serious tenants, and using these bona fide sites usually give you access to a wider demographic of quality renters seeking quality properties.

Screening Your Tenants Thoroughly

There’s nothing more important than screening every applicant thoroughly before picking someone to live in your place. Once that lease is signed, you’re bound to this tenant, and should anything happen in the future, you should know the courts usually side with the tenant. Instead of running a simple credit check, take advantage of a service that can help you interpret tenant credit reports, run background checks to search for criminal history, and find out about any evictions in the applicant’s past. You can never be too careful, especially when allowing a stranger to live in your personal property.

Enhancing the Curb Appeal of Your Property

When tenants drive up to take a tour of the property, make sure they want to step inside that front door by improving your curb appeal. The interior can be as luxurious as possible, but if the yard looks like a trash bin, you can pretty much assure they’ll be driving off before they even cross that threshold. Adding the right greenery and landscaping features can actually significantly increase the value of your home. A single tree alone can improve the resale value of a home by thousands of dollars. Consider using a professional landscaping service, at least for a consultation, and give your property’s back and front yard as much tender, loving care as you provide the insides of the home.

Encouraging Competition

If you want tenants to be willing to pay more for your property, you need to make it competitive. One easy way to do this is to host open houses on your rental where all applicants are encouraged to attend. It’s human nature to desire what we know others want, and this may see you garnering higher quality tenants.

Allow for Tenant Personalization

One gripe renters have with their living situation is the lack of personalization they’re allowed. If you’re looking to secure long-term tenants, allow some wiggle room for tenant upgrades and additions to the property in your lease. This might be a provision allowing for paint changes, so long as the space is returned to original condition when they do decide to move out. The more a tenant feels like a place is “theirs”, the more likely they are to take great care of it and stay longer, preventing costly turnover.

If you’re just embarking on your landlord business venture, start off on the right foot with the ideal tenants.

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About Traci

I'm a curly-headed dreamer, currently living in Ashland, Ohio. I'm a photographer, and recently made my business official (LLC). I would love to talk to you about booking a photoshoot with me! View my photo gallery (click here) Check out my pricing and choose your package (click here) I love coffee, chocolate and potato chips.  I love a good … Read More...

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Blushing with your delicate, rosy hue, a gentle b Blushing with your delicate, rosy hue, 
a gentle breeze blows through fresh, new blooms.
Your time is fleeting, yet faithful,
a promise of beauty each spring.

Gifting petals that fall to the earth,
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TraciMichele.com
@traci_michele_photography
"To plant a garden is to believe in tomorrow." - A "To plant a garden is to believe in tomorrow." - Audrey Hepburn 

@traci_michele_photography @kingwoodcentergardens
What Jesus offers is nothing compared to what the What Jesus offers is nothing compared to what the world offers.  Read 1 John 2:15-17
⭐️⭐️⭐️

Don’t trade God’s perfect timing for impatient substitutes. 

The counterfeit isn’t anything compared to the real deal. 

Surrender brings peace, joy, and rest. 

So trust fully to His perfect plan for your life. 

No more rushing ahead. 
No more backseat driving. 
No more comparing.
No more striving. 

Lay down the endless coveting of an illusion of perfection. 

He’s everything you’re longing for, 
striving after, and so much more. 

Open your hands and release your grip. 
Now you’re ready to receive His good 
and precious blessings.
In a time with so many voices, opinions and commen In a time with so many voices, opinions and commentaries, we can get overwhelmed by the noise. 

What should we believe?
What should we say?
Who's side are we on?

You can never go wrong with running to the feet of Jesus.  Get alone with God today, open His Word, and hear the words that matter above all else.
Walk in God's law Keep God's testimonies Seek Hi Walk in God's law 
Keep God's testimonies 
Seek Him with your whole heart 
Steadfastly keep His statues
Keep His commandments diligently 
Fix your eyes on His ways 
Praise Him with an upright heart 
Guard His Word 
Hide His Word in your heart 
Be Teachable 
Declare His ways with your mouth 
Meditate on His precepts 
Delight in God's statues
Ask to have your eyes open 
Ask for understanding and wisdom 
Find your strength in His Word 
Choose the way of faithfulness 
Set His ways before you 
Turn your eyes from worthless things 
Trust in His Word above all else 
Find comfort in His promises 
Make God's ways your heart's song 
Be friends with those who fear God
Value God's Word far more than riches 
Remember His faithfulness that endures through all generations 
His words are sweeter than honey 
His Word is a lamp to your feet 
His Word is a light to your path 
His testimonies are your heritage 
His testimonies are the joy of your heart 
He is your hiding place and shield 
Do what is just and right 
Hate every false way 
Ask the Lord to be gracious to you
Ask His face to shine on you 
Learn to be saddened by sin 
Daily put His promises to the test 
Peace is given to those who love His law
This world will offer you information, but true kn This world will offer you information, but true knowledge comes from God and His Word.  What are we filing our minds and hearts with? What we meditate on, will consume us and change us.  Let's makes sure we are being filled with truth.  Read Proverbs 2 today.  Look at all we gain from seeking after the knowledge of His Word :

Receive 
Treasure 
Listen 
Be Attentive 
Incline Your Heart 
Call out for insight 
Raise your voice for understanding 
Seek & Search 

-> then you will understand the fear of the Lord and find knowledge of God, righteousness and justice.

He is my shield 
He gives me abundant wisdom 
He guards my path and watches over me 
Wisdom will come in my heart 
Knowledge will be pleasant to my soul 
Discretion will watch over me 
Understanding will guard me 
Keeps me walking on the paths of righteousness
Hello! I'm Traci and I own Traci Michele Photograp Hello! I'm Traci and I own Traci Michele Photography, LLC.  I've always been passionate about photography and I decided to chase after my dream of becoming a photographer. 

I serve the Ashland, Richland County and surrounding areas of Ohio. 

My focus is on portrait / events / business branding photography.

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