Landlord Tips: How to Get Tenants in the Modern Age of Rentals
Whether you need to rent out a unit after a tenant moved out, your tenant wants to sublet, or just starting out as a landlord, here are a few tips for the modern renters out there looking for the next place to hang their hat.
Take Good, Clear, Uncluttered Photos
Take the photos during the day and open shades to let in natural light
If they don’t look great, ask a friend or family member to do it (or hire an experienced photographer)
Remove all clutter, even if you have to move things out of the way just for the photo
Adjust the photos on your phone with an app, as long as it’s representative of the space
MUST HAVE PHOTOS: Kitchen, bathroom, living room and at least one bedroom
It’s recommended to take pictures of amenities like a dishwasher, washer/dryer, a parking space, balcony or anything that makes it appealing. Post at least 5-10 photos in the listing.
Check Rental Prices
Each area is different, but also the time of year. If it’s peak summer rental season, you may be able to rent your unit out for a slight higher price (5-10% more), but lower in winter time. Hermosa rents are currently as follows, and if you’re renting a room out, you can use this as a guide and possibly divide these numbers in half if appropriate.
1 Bedroom
~$850-$1,000
2 Bedroom
~$1,100 - $1,500
3 Bedroom
~$1,500 - $1,800
Be Ready to Communicate Instantly
Make sure you have an email address and a mobile number on hand for potential renters to contact you. We recommend creating a free Google voice number so you can receive text messages and phone calls if needed. You’ll also want to be ready to respond almost immediately by adding the Google Voice app to your phone. These measures take extra steps, but they protect your privacy and keep your personal phone number off the rental listing that would be on the internet search for decades. You can also set up a new free email (ex: Gmail) address, but be sure to have these forward to your real account so you can respond in a timely way.
Post it Online Where the Renters are Looking
While Craigslist is still viable, Facebook works (but not ideal as you have to make your post + name public), so websites like Hotpads (cross listed with Zillow), and Domu are free for landlords. Secondary sites are Apartments.com and ApartmentFinder.com. Don’t forget to include details like if it includes heat (radiated) laundry, parking, or any amenities. The form on the rental website usually prompts you but its good to type it out in the description of the listing for extra visibility.
Hold an Open House for Showings
Nothing is more frustrating than taking time out of your schedule for a prospective tenant only to have them cancel or no-show. Holding an open house listed in your ad is a sure way to use your time wisely and avoid the back and forth of communicating with those who may or may not be serious about renting.
Be Ready with eDocuments: Application + Lease
If you are the owner and officially renting out a unit, make sure you have applications on hand, and we don’t mean on paper. Electronic documentation should be used, or at least a link that you can text or email someone on the spot. You can use this free application form that can be printed or filled out online.
Charging for Application Fees
You want to make sure that your renters are serious, and you also want to protect yourself by checking both their criminal background and their credit history. Application fees are usually $30-$40 per person and should be listed as non-refundable. This should cover your time + fees to check their credit. If they do not qualify or you choose another renter, you do not need to return the fee to them.
Ready to Rent out Your Unit?
Here’s a Checklist for Reviewing Possible Tenants
Are you going to ask for a security deposit (follow the rules) or a non-refundable deposit?
Do you have your blank lease ready? Here’s a sample
Is their criminal history clear or minimal? Here’s a service
Is their credit at least average 500+? Here’s a service
Did you call to check their last landlord’s reference?
Did you call to check their employment reference + salary amount?
Is their salary at least 3 times their share of the rent?Good luck!