Rental Property Management Tips > Attracting Quality Tenants
In our last post, we covered some of the best practices for dedicated property managers to follow. With a list of to-do’s each day, it can be a challenge to get everything done and put out fires whenever necessary. However, one of the best ways to minimize liability and stress is to occupy your vacancies with quality tenants. In this post, we’ll explain how you can accomplish this. Most importantly, however, is that you carry a Delaware Property Management Insurance policy to protect your daily operations.
Get your property camera-ready.
Not only does a deep clean make the commercial or residential property look beautiful, it will create a great first impression for potential renters. Putting your best photographs on the internet and advertising the space in its best form will attract the type of tenants you want. If you run a commercial space, establish relationships with vendors to ensure everything is maintained properly.
Next up is residential property management. Make sure the landscaping is fresh, carpets are clean, walls are freshly painted, all appliances are clean and in working order, bathrooms are spotless, major systems are functioning properly, and everything else in the home is in tip-top shape. If you present a well-maintained, clean rental home, then you are more likely to attract tenants who will keep it that way, says Red Door Company.
Apart from showing the property in the best light, screen your prospective tenants. Credit checks, background checks and past rental history should be looked into before approval. However, be sure not to violate the Fair Housing Act.
Price it right.
Being fair is the name of the game when it comes to rental properties. Preparing the vacant space for new occupants and pricing it competitively will ensure you draw interest from qualifying tenants.
About IFS Insurance
At IFS Insurance, we specialize in protecting various types of property managers throughout Delaware, New Jersey, Pennsylvania, and Maryland. Our quality solutions include General Liability, Errors & Omissions, Tenant Discrimination Coverage, Property Coverage, and more. We are committed to excellence and a personalized approach to insurance. For more information about our products, we invite you to contact us today at (800) 598-0420.