According to a recent study, Jacksonville has the 61st most expensive rental market in the country.
For a real estate market like Jacksonville, which has relatively low home prices, it's a great opportunity for property investors to make some serious money. If you're looking to get your rental property up and running soon, you'll have to familiarize yourself with tenant placement.
The key to a successful rental property is good tenants, while delinquent tenants are the biggest source of landlord stress. Tenant placement is a service that helps with finding tenants for your vacancies. Keep reading and learn how to find qualified renters for your rental.
Tenant Placement, Explained
Tenant placement is the process of finding tenants for rental vacancies. It uses various methods to do so, including scouring online databases and advertising on social media sites.
The most common tenant placement method involves creating a rental listing and posting it on rental listing websites. From there, interested applicants can apply for the rental, at which point the rental management company can use tenant screening methods to find the right tenant.
Marketing Vacancies
Marketing is crucial to tenant placement. You need to create an enticing property listing first. It should include a thorough description of your property and plenty of professional real estate photos.
Post the property listing on the rental website(s) of your choosing. You can even implement marketing practices, like SEO and paid ads to put more eyes on the listing.
Screening Applicants
With a good marketing approach, you'll get plenty of applicants. From there, it's your job to start screening them with the best possible tenant screening methods.
Tenant screening involves looking into an applicant's personal and financial background. A criminal background check will unearth legal issues in someone's history. A credit check tells you about their financial standing over time.
Both are important pieces of information when choosing a tenant. In addition, you can contact former landlords and employers to get a sense of a tenant's character. With all of this information, you can decide which applicant is the right fit for your unit.
Keep Good Tenants Happy
Finding great tenants is half the battle in lowering vacancy rates. The other half comes down to how you manage your property. You need to be an attentive landlord who pays close attention to preventative maintenance and other tenant-related issues.
It's all about keeping good tenants happy. You want to keep good tenants in your property because it makes your life easier. They care for the property and, if you do your job, you'll secure lease renewals.
Hire Property Management Services Today
Tenant placement is an essential aspect of being a good landlord. If you follow these steps, you'll be able to find Jacksonville's top rental candidates. Fail to take tenant placement seriously and you'll be back searching for a new tenant sooner than later.
If you need help finding great tenants, Nest Finders Property Management is the answer. We're Jacksonville's top full-service property management group, offering a wide range of helpful services. Contact us today to discuss your needs and how we can make your life as a landlord easier.
