It's no surprise that investors love what they do. I mean why not? If you can find just the right long-term investment that will continue to grow, then you're on the road to that freedom from financial responsibilities. However, our success or failure with an investment in a home boils down to one thing, the tenant. When we find the right people, income shows up month after month along with the properties being taken care of. When we don't, nothing seems to go right and ultimately ends up being a nightmare.
With that idea in mind, there are two important advantages you can use in finding that perfect tenant starting today:
#1: Go Green Anyway You Can!
We all know the world is going paperless, and it's a great thing. Not only are we doing a great service but preserving the environment, but technology is obviously the go to choice for your business being more streamlined.
The old ways of bringing in new tenants has become a process that is more of time-consuming: personal visits, stacks of paperwork, and the tedious routines of checking proper identification, applications, and lease paperwork. The list goes on and on... Not to mention collecting those checks and money orders.
With newer paperless tools, investors and landlords can spend a more ample amount of time bringing in those new applicants and tenants, and even when that doesn't sound convenient, everything is going mobile.
#2: Never Invest In A Bad Tenant
One of the many money savers we use is having the applicants pay for their own applicant fees. Not only does it just save money for ourselves, it makes it less likely that you'll waste your time on the wrong tenants.
When you convince a potential applicant to pay for their own background screening, one of two things end up happening. The wrong kind of tenant will question the red flags they have from their past - like poor payment history, recent evictions, or a heavy criminal record - and wonder whether they should even bother spending money on that particular fee. The right kind of tenant won't think twice about the fee, obviously showing that they have nothing to hide and would easily qualify. This definitely prevents either party from wasting time.
Having applicants pay for these screening processes is a powerful tool and that helps weed out the right renters from the wrong ones.
By taking advantage of these tools, it can limit your liability, lower your costs, as well as preserve the time we need to make the most of our financial gains. With these ideas in mind, Suncoast Property Management, has been efficient as well as skillful in maintaining these ideas for you. Give us a call at (904) 517-5939 or send an email to firstname.lastname@example.org for inquiries