19. August 2014 13:28
When looking for a rental property tenants have various personal preferences and choices. Everybody wants their new home to be the best and different from other rental properties available in all aspects. While searching for a new rental property, the potential tenants have certain important criteria and points that they consider. Some of the common important factors for tenants are:
- Location: Location has always been and will continue to be the most important criteria for selecting a rental property. Potential tenants are sometimes ready to compromise on other amenities if the property is in the perfect location be it close to schools, hospitals, major companies, shopping centers or easier access to transport.
- Neighborhood: After the location aspect, neighborhood is the second important point that people consider while renting a property. Renters mostly prefer properties that are in quiet localities and provide them with the privacy they desire. This is particularly important if the potential tenants include children or elderly people.
- Attractive Appearance: Every tenant wants their house to look fresh and renovated. Thus, it is very important for the landlords to properly maintain and renovate the house, particularly the kitchen and bathroom, before putting it up for rent. Simple and low cost improvements can turn out to be very lucrative when renting your house which can include new door handles, repainting and trimming the grass.
- Needs should be met: Potential tenants have certain needs that must be fulfilled so that they can decide whether they can rent out the property or not. This could include things like number of bedrooms and bathrooms, open kitchen, parking trail, outdoor area, storage space etc. The tenant must be satisfied enough of all the facilities that the rental property has to offer before signing a deal.
- Fair Pricing: While searching for a rental home, potential tenants are very much likely to compare the prices of similar properties. Highly priced properties are usually the last ones to be taken up. Thus the price of a property should be decided only after taking into account the actual market trends as well as the amenities offered.
We, at Lone Star Realty and Property Management Inc., are a professional real estate company that can help you with all your property related needs. We will guide you throughout the process of renting a property. For more information about the services that we offer, you can contact us at (254) 699-7003.
12. August 2014 14:58
Owning a property is a huge investment of one’s hard earned money and it is extremely important to have it maintained regularly especially if you consider it as a rental property. A well-kept property helps the owner make profit down the line by ensuring less repairs and breakages in the house. Though a property owner can manage his own property but it is advisable that you hire a professional property management company that manages and adds significant value to your property.
Here are a few benefits of hiring a property management company for your rental properties.
- High Quality Tenants: An efficient property management firm has years of experience in dealing with thousands of tenants. They know how to analyze real facts about the applicants and screen them accordingly. They help owners in dodging bad tenants, lawsuits and scams, and ensure that they approve tenants after screening their background and confirming with previous landlords.
- Lesser Vacancy Phases: A property manager will let you know about the important improvements that must be made in the house before putting it up for rent. He will also help you determine the ideal rent based upon the market trends and they have a fair idea regarding how and where to market a property. All these points will help you find tenants in a much lesser time as compared to when you do it on yourself.
- Better Holding of Tenants: Apart from the lost rent, high tenant turnover can also cause various hassles like painting walls, changing locks, electrical repairs, screening of prospective tenants, showing the property and settling the tenants. Lone Star Realty & Property Management Inc helps you find tenants that are genuine and stay for long.
- Timely Collection of Rent: With an efficient property manager you don’t have to worry about the hassles of collecting rent from the tenants. The manger handles the timely collection of rent from the tenants.
- Low Cost of Maintenance and Repairs: Hiring a property management company gives you access to a competent maintenance staff as well as many other skilled contractors who have previously been scrutinized for their economical and quality work.
Thus, it is advisable that you hire an accomplished property management company for the upkeep of your rental property. For more information, please contact Lone Star Realty and Property Management Inc. at (254) 699-7003.
5. August 2014 16:30
Finding a good and responsible tenant who takes care of your property and pays his rent on time is a challenging task. However, in today’s real estate scenario it is very important to retain good tenants provided that you are lucky enough to find one. Retaining a tenant saves you a lot of time and money and prevents vacancy periods. Here are some tips for landlords that help them retain good tenants for long term.
- Be approachable and responsive: Whenever your tenant wants to talk to you or discuss something important, you should be approachable and available. Tenants do not like the fact that the landlord is never there to listen to their woes and it is essential that you communicate with them. A little effort on your part will be surely appreciated by the tenants and you should aim to build up a healthy relation with them.
- Pay attention to their requests: Listen to the requests of tenants and try to resolve the issues if possible. Even if you disagree to their suggestions, you should talk to them and explain why you disagree. You should promptly attend to their calls, emails or texts and if possible revert to their calls immediately. These steps will strengthen the relationship and help in building credibility.
- Address their problems: If any tenant has some problem in the rental unit then make sure you resolve the issues as quickly as possible. Avoid delaying the requests for any repairs as this will create problems for the tenants. You should have the phone numbers of contractors so that you can timely resolve all issues that require immediate attention.
- Buy quality fixtures and appliances: Make sure that your property is equipped with quality material and appliances. This will please the tenants and make their life easy and smooth. Tenants do not mind paying more for a property that is well maintained and has the latest gadgets.
- Make your rental property available for pet owners: Properties that are pet friendly are in demand and tenants occupy such properties for long as these are not easy to find. By setting some rules regarding the type of pet allowed and requirement of pet insurance or a pet deposit can work in your favor.
- Stay in touch and respect the tenant's privacy: To retain a tenant for long, it is essential that you keep in touch with them but without interfering in their lives. You should remain approachable, friendly and communicate with them regularly along with paying due respect to their privacy.
Following these simple steps will surely help you have a wonderful relation with your tenants who would also want to stay in your property for a longer time.