http://google.com

1. of cell users feel
comfortable
confirming via text.
of adult smartphone users
rely on phone GPS.
PROVIDE AN ADDRESS!
which
leads to
CREDIT & BACKGROUND CHECK
1
SEND A TEXT REMINDER
You’ve lined up showings and interviews,
but not everyone makes it to their
appointment on time (if at all).
This costs you valuable time and money.
3
Just a reminder of
our appointment at
1pm today to view
the property at
123 Daffodil Drive!
I’ll be there!
75% 81%
74%
plus
Rental applications aren’t
always enough. It’s a good
idea to conduct interviews to
help in the selection process.
Race
Skin Color
Religion
Gender
National Origin
QU
ESTIONS ABO
UT
ARE ILLEGAL!
Why are you moving?
When do you plan on moving?
What is your monthly income?
Can you pay the security fee and
first month’s rent up front?
How many people will be living
in the apartment?
Can you provide references?
Will you consent to a credit and
background check?
Have you ever been evicted?
Do you have any pets?
4
Absolutely ask:
Tex
t reminders red
uce
no-
show rates by u
p
to
Start with marketing yourself during the most popular moving months, when people
may be willing to pay a premium because rentals are in high demand.
The Only Guide You’ll Ever Need!
&Find Keep
THE BEST
TENANTS
Finding the right tenants
can be tricky business!
Let’s talk about the best ways to:
1 FIND GREAT TENANTS
2 KEEP THEM HAPPY
3 PROTECT YOURSELF
FIRST IMPRESSIONS MATTER
4
50%
37%
of women of men
believe that external appearance
and success are intrinsically linked.6
Dress the part
The start and
end dates of
the lease
The specific amount
of the deposit paid
by the tenant
Repairs and
maintenance
language
Potential fees —
check processing
fees, late fees,
cleaning costs
Names of all
people living in
the home
Lead-based paint
disclosure for properties
built before 1978
Utilities and who is
responsible for
paying them
You’ve found a great tenant,
and they’re ready to sign on
the dotted line.
The lease agreement
should include …
• number of pets
• weight of pet
LIMIT
• up-to-date shots
• leashes on property
• clean-up after pets
• liability insurance
REQUIRE
Pets are family members, too —
get specific about them on the lease to keep everyone happy.
DON’T FORGET FIDO
SHOW A LITTLE LOVE
THE SECURITY DEPOSIT
• age & breed
• photo for files
• health records
REQUEST
A SAVINGS OF $30-$503
PER APPLICANT!
Smile!
It’s the most important
part of a first impression.7
Wear a
Be on time
If you’ll miss it or be late, COMMUNICATE!
of adults have cell phones.
91%
used them to confirm
appointments in the
last month.8
41%
WRITING THE LEASE
21%
THE RELATIONSHIP
After you’ve found the perfect tenants (+ four-legged counterparts),
how do you keep them around for years to come?
You may have stainless steel appliances and free off-street parking, but
here are three things you should prioritize to keep good tenants:9
SAFETY
and security
QUALITY
of customer service
by office staff
SERVICE
quality of
maintenance team
Stay in good favor by offering
inexpensive holiday or “just
because” gifts, like:
Cookies or other baked goods
Movie tickets
$10-$25 giftcards (iTunes, Target,
groceries, restaurants)
New paint (let them pick the color)
Appointment with a cleaning service
Patio furniture
A home repair toolkit
Gift baskets with local treats
Money off rent
Building parties
New appliances
Thank you!
Up to $25 of every gift is tax
deductible!11
If you always require a security deposit,
that extra money will protect you
from out-of-pocket costs associated with turnover.
But what if your really wonderful tenant gets
a job three states away and needs to
terminate their lease early?
It’s okay!
*Some exceptions apply, please
refer to detailed limits from NOLO.
So there you have it, the
circle of tenant happiness.
Good Luck!
1 http://www.slideshare.net/MyMovingReviews/7-mindblowing-moving-stats-for-2013
FIDO
Make tenants aware that you can make changes to the agreement with 30 days notice.
3,225
$
1,000
New carpet
$
600
New coat
of paint
$
600
New
appliance
$
400
Fixing and repairing
normal wear-and-tear
from previous tenants
$
225
Showing
properties
$
100
New locks
$
100
Running credit
and background
checks
$
75
Someone taking
phone calls
$
75
Drafting leases
and meeting
to execute
$
75
Advertising
open apartments
UP
TO
NV
AR
IA
ME
MD
MO
VA
AK*
CA*
CT*
NC*
PA*
AZ
MI
PA*
DC
HI
MA
RI
AL*
DE*KS*
NE*
NH*
NM*
SD*
ND*
1 MONTH
1.5 MONTHS
2 MONTHS
3 MONTHS
There are limits on what you
can charge in some states!12
http://www.nolo.com/legal-encyclopedia/security-deposit-limits-deadlines-your-state-36186.html
THE COST OF TENANT TURNOVER
at least one month’s rent!
10
We’ve broken down
the cost of turning over
a 2 bedroom, 1,000
square foot unit...
AN INFLUXof
potential tenants
(if you’ve planned right).
NOWTO WEED
THROUGH
THEM
of all moves take
place in June, July,
and August.1
40%
UP
TO
EVERYTIME
You have 7 seconds to make a good first impression.5
however
of all DIY landlords admit to
not performing thorough
background checks.2
Property owners can charge the
prospective tenant for credit and
background check costs.
KEY QUESTIONS TO ASK
2
12 http://www.nolo.com/legal-encyclopedia/chart-security-deposit-limits-state-29020.html
11 http://www.landlordology.com/gifts-for-tenants/
10 http://www.zillow.com/blog/rental-homes-making-more-money-by-keeping-your-tenants-happy-93868/
9 http://www.propertymanagementinsider.com/top-3-reasons-why-residents-will-renew
8 http://www.pewinternet.org/fact-sheets/mobile-technology-fact-sheet/
7 http://www.huffingtonpost.com/2014/07/29/facial-features-first-impressions_n_5631383.html
6 http://blogs.hbr.org/2011/02/dress-for-the-job-you-want/
5 http://www.businessinsider.com/only-7-seconds-to-make-first-impression-2013-4
4 http://landlords.about.com/od/Landlord101/a/Questions-For-Prospective-Tenants.htm
3 http://www.nolo.com/legal-encyclopedia/how-landlords-can-check-tenant-s-credit-report.html
2 http://www.realpropertymgt.com/survey-shows-lack-of-tenant-screenings-put-neighbors-in-danger
www.buildium.com