What is the Secret to finding GOOD tenants for your Rental Home?

Finding Good Tenants for Your Rental Home

Advertising in our local community has changed over the past decade. Where once newspaper advertisements, community listings and flyers were effective in drawing in potential tenants, now internet listings, social media and websites do all the heavy lifting. Changing your advertisement strategy and utilizing Arizona property management techniques is key to finding the right tenants for your second home.

1) Finding good Tenants: Get Social!

From Facebook to Twitter to Craigslist more Americans tune into social media than TV, radio and newspapers combines. Utilizing these information giants costs less than traditional media – often times being completely free. Postings to your local area social media groups should also be included with ample information, after all, you’re not paying per word.

2) Finding Good Tenants: Get Listed!

Today, tenants are guaranteed to search for their new living space through sites like Trulia, Zillow and Rent.com (plus some other special online sites KRK always uses). These websites are geared towards providing a mass listing of all available properties in their area. Listing your property on these sites is crucial. You’ll never get a second chance at your first impression so take the time to upload clear, attractive pictures of your rental and provide ample information for the prospective tenants. This will not only draw interest, but will reduce the number of phone calls and false leads you’ll receive.

3) Finding Good Tenants: Get Help!

There’s no one that knows your local market than your neighborhood property management companies. Utilizing services like what is offered by  KRK Realty & Management will allow you access to potential tenants who prefer to rent only from trusted professionals. By handling the marketing, applicant checking,leasing and management of your home a quality property manager like broker/owner, Kevin Kirkwood, can save you time and money. As experts in the Scottsdale/Tempe/Phoenix/Mesa market, hel’l understand how to market your property to the right tenants, at the right price so you MAXIMIZE your profit.

There’s no substitute for good marketing! If you’re not sure where to start or if your attempts have been fruitless it can be financially beneficial to seek the help of a professional from an Arizona property management company, KRK Realty and Management.

Why do property management companies in Phoenix get more for rent than DIY Owners?

There’s a big difference between $1200 and a $1500 rental!

For property management companies in Phoenix AZ, !t’s not bedrooms or features, it’s the landlords  pricing. It’s strange to think this would determine your success as a landlord—however, pricing your rental is a critical step in obtaining the right tenants. The ideal number is what’s fair for you and your tenants. You’ll need to perform independent research to determine your exact number:

1) Start with what you need to make!

Landlords must tackle how much they need to receive from their rental. First add together: the mortgage, insurance, taxes, listing fees, and upkeep. Once you have your out­-of­-pocket costs figured add ­in an additional 20% to cover times when your home is not rented and unexpected costs.

Wait!  You're not done, you’ll need to decide how much more you want to make on your investment before reaching your minimum rental price.

2) Shop the rental competition!

Online sites like Rentometer help you set a rough price; however, odds are you have a home that is roughly equal in value to those around it. Some of these homes are likely rentals as well, looking into these rentals to find their renting price will help you narrow your realistic price range.

Take into account: location, repairs and bedrooms. Using online sites like Trulia, Rent and Zillow will allow you to gain a bird’s­ eye view of your neighborhood. Remember to take note, not only of those rentals that lease quickly but, those that remain unrented for months.

3) Ask for Property Management help!

From large estates to family­ homes there's a rental price that will leave you and your tenants happy. In three years you don’t want to find you've let tens of thousands of dollars slip away because you undercharged. That’s where full-service property management companies can help home owners, they can provide inside­ information about rental pricing that isn’t available to the public. Choosing a very experienced local Phoenix property manager such as Kevin Kirkwood for your home rental is critical to your success as a local investor.

If you're having problems finding the right price for your second home, contact KRK Realty! Many times, they have been able to increase the rent enough to pay for the property management fees and produce more profit for their clients. Contact them now! There is a reason to select a great property management company in Phoenix AZ like KRK Realty & Management!

Rental Homes in Phoenix, AZ – Five ways to draw in more Tenants, today!

The trick to finding the right tenant isn’t just having the largest selection to choose from. Building the right interest in your rental homes in Phoenix, AZ means using the right tools to market your home. Social Media, On-line services, word-of-mouth are just a few ways to bring in potential clients. Curb-appeal – No matter how far into the digital age we go, it seems a majority of tenants still find their rentals by simply driving by. Keeping your rental looking pristine is a must year-round. Quality tenants want quality rentals – invest in landscaping, attractive features and professional maintenance.

Word-of-Mouth – You already have a great tenant; so, ask them directly to assist you in finding a new tenant. They may use social media, local groups and their connections to find potential tenants to fill their vacancy. This option is easy and absolutely free.

Social Media – 80% of adults in the United States use Facebook. Search for your next client by joining groups on social media sites designed for apartment rentals or yard sales. Posting your quality rental to these sites will generate more leads than traditional newspaper listings.  We are constantly using our social media profiles on maintenance tips, new availability and fun information so in order to communicate and keep our tenants, and prospects up-to-date and informed

Online Media—In today’s on-the-go world many investors forget to list their rentals on sites like Trulia, Zillow, Rent and Craigslist.Tenants see these sites as trustworthy and will respond to listings placed with them. We also create our own email list and waitlist in order to match prospective tenants with available rentals as soon as they get on the market

Responsive & Caring Property Management — If maintaining listings through several locations, receiving dozens of phone calls a day and keeping your rental in top shape, doesn’t sound like a good time to you, contact a property manager. Using a quality property management company will allow you to market, rent and protect your home. Property Managers can also advise you on the best ways to maintain your home. Search for a property management like KRK Realty—one that understands the importance of maintain long-term tenant relationships.

The right tenant isn’t elusive, many great families are looking for quality homes in the Phoenix area. The best way to fill your rentals with quality renters is to use the right advertisement, maintain your home and use experts that are knowledgeable and respected in their field. Following these steps will allow you to soon enjoy the extra income from your rental homes in Phoenix, AZ. Contact KRK Realty & Management if you want to talk more!

Kevin Kirkwood, Designated Broker