How Long Does it Take to Find the Right Tenant in Salem, OR?
Mendell Gosnell - Monday, August 21, 2017
The right tenant is worth the wait. Owners are anxious to get their property rented in record time at the cheapest price and get the highest rent. We understand that. However, the goal is to find the best tenant. That’s what we’re working for. We have sometimes learned the hard way that patience can pay off.
How to Attract a Good Tenant
Don’t skip steps. Make sure you’re putting your best foot forward when you’re marketing your property. Have a clean, safe, habitable home available to tenants, and pay attention to your curb appeal. Market widely so that you attract good tenants, and then screen and do your due diligence. You can trust – but verify.
How to Pick a Good Tenant
We understand that the longer the vacancy, the more your cash flow is affected. The value of the property is also affected long term. But don’t skip the screening. Take the time to find the right tenant. It’s painful to wait and deny a few tenants, but it’s better to deny a bad tenant than to take your chances and get burned.
How Long Does it Take to Find a Tenant?
Finding the right tenant will depend on who is applying for your property. Before you start your search, know the market. Look at the rental market objectively and unemotionally. Professional property management can help you with this. We are always compassionate towards tenants, but we can make sure we’re focused on getting the best tenants for your property.
How to Find a Good Tenant for Your Rental Home
Ask for a reasonable amount of rent and make the necessary repairs. If you don’t, you could fall into the slumlord category, and you don’t want to be there. Make your property appealing, and keep it maintained. You want your rental home to be the best in the neighborhood. At a minimum, it should be safe, clean, and habitable. The more you can do, the better class of tenants you’ll entice. In a slower market, you’ll need to provide incentives to attract tenants to your property.
Trust your property management company. Know they are working hard on your behalf. If they give you feedback and tell you that they had to deny an applicant, know that it was for a good reason. Be patient, and make sure you’re getting the best possible tenant. Prepare yourself for a little vacancy. It will pay off in the long run.