Category Archives: moving

How to Find & Keep Quality Tenants

February 9, 2022association living, moving, property management, unit ownerssperling

One of the best ways for property managers or landlords to protect their investment property is to find quality tenants who will care for the unit and the property, pay their rent on time, and remain in the unit for a considerable length of time.

It may be tempting to rent your units as quickly as possible to avoid vacant units or apartments, but spending the time to find quality tenants can pay off in the long run. Finding qualified and quality tenants can save time, money, and potential headaches years into the future.

Top Landlord Concerns

When it comes to finding quality tenants, there are several criteria that any property manager or landlord will be looking for including: prompt payments, prior eviction history, criminal history, tendency to move constantly, inaccurate or fraudulent information on application, and whether they are a high maintenance tenant.

Most of these concerns can be identified through a background and credit check but there are some that we must all rely on a little bit of experience with tenants and a sprinkle of intuition.

In a SmartMove user survey, property owners expressed some clear concerns about bringing on new tenants. Their top concern was, by-far, problems paying bills on time. While this may be your top concern as well, know that checking a tenant’s credit is one way to alleviate major concerns.

What Is A Good Tenant?

Now that we understand the concerns of property management companies prior to renting a unit, it’s also a good time to set out your criteria of what makes a good tenant in your eyes.

Some of the major factors that you may be looking for, especially if you are like many companies who are looking for a financially stable renter is to ask these questions:

Does the candidate have a steady income?
How long have they had this particular job? (Looking for longevity.)
What does the candidate’s credit score show about their ability to pay bills on time?

There are aspects that you will want to research or discover during the application or interview process. These may include: how long they have lived in their current place, why they are moving, or whether they are aware of property guidelines like rules about parking, pets, or guests.

During the application process you will also be able to learn a little about the person’s character and temperament, which may come in handy if issues arise later.

Steps to Find & Keep A Good Tenant

Now that you understand the top concerns of landlords and some key criteria to be on the lookout for with your tenants, you need to know how to find these types of renters. Here are a few places to consider.

Step 1 List Your Rental Property

Depending upon your location, you may want to list your property units in distinct locations, such as business listings if you are hoping for young professionals or online websites that can help you cast a wide net of candidates. Be careful of your listing locations. If you place an ad in a college paper, you’ll likely be renting to college age tenants.

Step 2 Do Your Research

As a landlord, it is your responsibility to conduct thorough background checks including any eviction history, criminal history, and a complete credit check.

Step 3 Look For References

As your tenant candidate for references from employers, past landlords, and other relevant people so you can get a better sense of what the tenant will be like once they move in.

Prepping Your Rental for a Smooth Turnover

February 2, 2022association living, moving, property management, repairssperling

As property managers, we are very familiar with the rental turnover cycle. Tenants move in; tenants move out. It is a part of life and there is some sense of both chaos and harmony knowing that the cycle continues on.

If you have yet to start working with a property management company, you may find yourself dealing with all the details involved with a tenant turnover on your own. If so, we have some tips that may help you make the transition go more smoothly or you may choose to use our services here at Thayer & Associates.

There are things that a landlord or property management company should do both before the former tenant moves out and before the current tenant moves in. Read on for some ideas to make this as stress-free as possible.

Before Your Tenant Moves Out

As part of your responsibility as a landlord, “It’s your legal responsibility to provide a comfortable, healthy and safe living environment to your tenants, which often entails performing some essential repairs and upgrades,” according to Rentec Direct online.

This may mean cleaning the rental unit, making repairs, and ensuring that the unit is safe for the next tenant. You may also want to make upgrades that could increase the value of your rental and attract reliable tenants for future years.

Conduct a Walkthrough

As soon as your tenant puts in their notice that they will be moving, you should schedule an informal walkthrough with them to discuss issues such as cleaning that may fall under tenant responsibilities, as well as maintenance, repairs, updates, and landscaping issues that would be in the landlord’s domain.

Make a list of all that should be done prior to a new tenant moving in and prioritize each task.

Schedule Professional Services

Depending upon the condition of the unit and how much work/improvements you may want to complete, scheduling professional services such as a cleaning crew, plumber, electrician, or general contractor should be done well in advance so you can have the work done in a timely manner.

Establish Move Out Guidelines

Before your tenant moves out, be sure to give clear guidelines about what the apartment or unit should look like upon handing over the keys. For instance, many property managers require a clean apartment including the stove, refrigerator, and bathrooms. Without the area being free and clean of any leftover property or belongings, landlords often stipulate the loss of the security deposit.

Another scenario to consider is if walls have been painted or more permanent changes have been made, with or without your consent, be sure to stipulate what should be done to prepare the unit for the next tenant.

After Moving Day

Once your tenant has moved, there are a flurry of tasks that should be completed by the manager, landlord, or company responsible for the property.

First, the locks should be changed by a professional to ensure that a fresh set of keys will be given for a secure unit.

From there, many property managers spend a few days painting, cleaning, and repairing any areas that need it. Updates to areas like the kitchen and bathrooms could be done during this window when the unit is not occupied.

If there are carpenters, windows, or appliances that need cleaning this is the time to get that done as well.

Tenant turnover is inevitable, but having a sound plan prepared in advance can help make the transition go smoothly. Tell us your transition suggestions below or on our social media pages. If you are in need of tenant turnover help, whether it is marketing or completing the tasks needed to rent out your property, talk to our team about using our services here at Thayer & Associates.

Filling Rental Vacancies Fast

September 8, 2021moving, property management, selling tips, unit ownerssperling

As a side effect of the pandemic, many rental properties have remained vacant for longer than usual. Whether it is due to college and universities going remote, so students no longer need their rental, or a major shift to suburban living overcrowded city life, apartments that are usually a hot commodity have slowed down in rental allure. Thus, filling rental vacancies has become a pivotal part of property management responsibilities.

Here are a few ideas that may help landlords quickly fill vacancies that may occur over the course of the year.

Keep Your Listings Current on Your Website

According to RentTec Direct, “72% of renters use the Internet when looking for a new apartment according to a study conducted by Apartments.com and Google which evaluated the top avenue renters use to find their next rental property.”

If you are not keeping your vacancies up-to-date on your site, you may be missing a large portion of renters that find their next apartment online.

Evaluate Your Pricing

Your future renters will be doing their homework and shopping around to see which spaces include utilities, which do not, and which ones may offer some sort of amenities such as a yard or outdoor entertaining space.

Be sure to examine what the market is telling you your rent should be according to current situations. Once you have examined you can easily justify why the rent is set at a certain amount.

Utilize Professional Cleaners

Apartments that have been professionally cleaned, including the kitchen and bathrooms, appear better to potential renters. If you hire a cleaning crew you will not only save yourself some time and elbow grease, but also make your property look more appealing to those hoping to rent.

Keep in mind that renters check out every corner of the unit before they sign on the dotted line. By contracting this chore out, you will be maintaining your reputation for having spotless units as well as having renters find the unit above reproach.

Consider Perks

If you want to fill your rental quickly with quality renters, consider some perks.

Offer your current renters (or outgoing renters) referral awards to entice word-of-mouth recommendations. There is nothing better than finding a renter through a referral from someone who has been a quality tenant for years!

Advertise Immediately

If you do not have a referral program, you should try to advertise a vacancy immediately upon getting notice from the tenants.

Most rental units come with a requirement of giving 30 days’ notice to the landlord before moving out. Act immediately upon getting the notice to advertise the unit so that there will not be a vacancy the next month. Every time that unit sits empty you are losing income from that space.

Follow our blogs for more ideas on how to keep your properties well run and efficient now and going forward.

Ready to Move into a Community with an HOA?

September 2, 2019good neighbor, HOA Board, moving, property managementsperling

Are you thinking about packing it all up and moving to a community that has an HOA? Communities that have a Homeowners Association have a ton of advantages including the amenities, freedom from landscaping the lawn every weekend, and being in a secure environment. If you are new to community living, you will want to be aware of some aspects that come with this type of community. Here are some of our tips for your move.

Understand the Rules of Your Community

Living in a community is different than owning your own property or home. It is important to note that there are rules and bylaws that govern each community. You will want to ask specific questions when considering a move to see if you and your lifestyle are a good fit. For example, ask about rules concerning pets, smoking, parking, guests in the amenities areas, noise restrictions, rules on renovations, and the list could go on and on. Carefully read all Governing Documents before you decide on purchasing in a community.

Understand the Insurance Differences

You probably already know that there is a master insurance that covers all exterior aspects of your building and common areas in your community. But what you may not realize is that you must also have individual insurance to protect the items within your own unit. Be sure to talk to your agent so there are no gaps in coverage.

View the HOA Budget

Where a community spends its money can tell you a lot about what is valued. Ask to see the budget, which should be available from any HOA Board members. Look to see how often maintenance is completed on common areas, amenities, the roof, exterior structures, painting, landscaping, and paving the parking areas.

Engage with the Community

Ask about community events, how the pool or gym works, and find out if there is an association email that you can get your name on so that once you move in you will begin feeling like you are a part of the community.

Know Who to Contact

Unlike owning your own home, when there is a problem you will need to know who to contact. Get a list of board members as well as a contact person who can tell you whether you are responsible for calling a repair person or whether the association will deal with it. Usually, if the problem occurs in your unit you are responsible, while outside it is the responsibility of the association. However, there are questionable times like if there is a roof leak, water pipe burst, electrical problem and so on.

Are you preparing for a move to an association? Here are a few sites to examine when dealing with a move that can help you out. Good luck and welcome to your new community!

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