I have dubbed this the “Pilot Series” for obvious reasons. This is the first series of how to articles I will be posting. We will start with “How To Procure a Quality and Qualified Tenant”. This is very important for property managers in Colorado Springs and landlords of all types! Having a good quality
qualified tenant in your rental property will help
keep your property in tip top shape, your rent paid on time, and a happy lease cycle!
In my experience there are a few things that should be done right from the beginning to attract qualified and quality tenants to your property. You will want to make sure the property you are planning to rent does not show signs of disrepair or abuse. The property should be well maintained to show the tenants you are a responsible landlord. A quality and qualified tenant will not be interested in a property that’s not well maintained this is very important!
Once the property is in rent ready condition you will need to create advertisements that attract the tenant’s you are looking for. Make sure all online advertisements have numerous high quality photo’s and video if possible. There should be a detailed description of the property and make sure to highlight any unique and desirable features of your property. Stay away from dramatic descriptive words and try to focus on the facts of the property. Your description should be reinforced by the pictures and vice versa. This will help prospective tenants to get a good feel for the property and will save you time when it comes to showings.
Ok as of now you have a rent ready property and it’s advertised in as many places as possible! What’s the next step? THE PHONE STARTS RINGING! Tenant’s can’t wait to see your property! Don’t get too excited, you need a way to avoid the folks who are not quality or qualified. You should have a list of minimum qualifications for the prospective tenant’s to review prior to viewing or applying for the property! Be careful when creating this list of qualifications. You do not want to unknowingly volunteer yourself for HUD violations.
Your objective with this step is to eliminate the bad eggs right off the bat and to give each interested party an opportunity to know what you will be looking for to approve them. This process will result in more productive showings and less wasted time. Again, we are only interested in working with qualified and quality tenants so we are doing what we can right from the beginning to ensure this is the case!
Feel free to email me at Daniel@muldoonassociates.com and I will send you my list of qualifications FREE. I also have other leasing documents and lease packages available.
I’m going to end here and we will continue this process in “Procuring Quality and Qualified Tenants #2”.