How to Find Tenants: What to Look For in an Application

find tenants

Did you know that there are over 114 million people currently renting in the US?

Having no tenants in your property can be a real issue due to loss of income. But, having bad tenants is far worse so it’s important to find the right people.

When you have great tenants who pay rent on time, keep the place tidy, and generally don’t cause a fuss, it makes life easy. That’s why you need to find tenants who do exactly that.

In this article, we’re going to share some tips on how to find the perfect tenants for your property.

Read on for more information.

Background Checks Are Key

Hopefully, this is something you’re already doing but if not, it’s a tactic you need to adopt.

In this day and age, it’s really easy to perform a background check and there are great tools out there to do it. Not only can you do a credit check on them, but you can also see their rental history. This gives you the chance to contact former landlords and ask about any issues they may have had.

A background check is the first thing you should do and will likely be enough to decide whether they suit your property.

Meet Them In Person

People can come across great over text messages or emails, but, if you really want to gauge who they are, then meet them first. This can be done by giving them a guided tour of the property.

Make sure the tour is in-depth and you take time at the end to have a decent chat. Try and get to know them and let them tell you why they’re a suitable tenant.

Speaking to people face to face makes it easier to find out who they are. You should be able to get a feeling rather quickly whether they’ll be a good fit or not.

You Should Look To Find a Long-Term Tenant

We don’t need to tell you that it’s more beneficial to look for a long-term tenant over short-term. Not only is it better financially, but it saves you starting this process all over again within months.

One way of gauging if they’ll be a long-term tenant is to look at their rental history. If they tend to stay in places a few years, then they’ll likely be ok.

When you meet them, ask about their job and any plans. You should also be honest and hope they’ll return the favor. If you want a tenant to stay at least 18 months, then mention it and analyze their reaction.

How To Find Tenants: Solved

We hope you have enjoyed reading our article and have learned a few new things on how to find tenants.

As you can see, there’s a variety of ways you can improve your tenant search. By adopting these strategies, you’ll hopefully find reliable, responsible tenants.

Looking to sell your property? Let us help by contacting us here.

3 Important Facts Landlords Need To Know About the Eviction Moratorium

eviction moratorium

We all know this: COVID-19 has not been easy on anyone.

From people fearing for their well-being to millions losing their jobs every single week, our country continues to reel from the impact of the virus. Many people cannot pay their rent or bills and fear losing their housing.

As a landlord, this tears you in two. 

On one hand, you don’t want to have to evict families who don’t have anywhere else to go. On the other, you’ve been hit hard as well. You can’t afford to have people not pay.

Earlier this month, the U.S. issued an eviction moratorium, saving millions from immediate eviction.

But what do you need to know about this?

Read on to learn more information on the eviction moratorium.

1. What Is the Eviction Moratorium?

The eviction moratorium puts a stop on the forced eviction of individuals and families from places they lease or rent.

Under it, landlords cannot evict their tenants unless they fail to qualify for the moratorium. In its write up of the moratorium, the Center for Disease Control and Prevention (CDC) said COVID-19 has put many Americans at a financial disadvantage.

It lasts from September 4th through December 31st, 2020.

2.To Whom the Eviction Moratorium Applies

The eviction moratorium may not apply to all of your tenants

In order to avoid eviction, your tenants must furnish you with a declaration made under penalty of perjury. The declaration should state the person attempted to pursue government assistance to pay for their housing.

They must also establish they made less than $99,000 in 2020 if they are an individual. If they file a joint tax return, the amount should be no more $198,000. Alternatively, they may prove they were not required to file a tax return. 

They can also state they obtained a stimulus check.

Also, they must establish they are unable to provide rent payment due to a loss of income or extraordinary medical costs.

Your tenant must also provide you with partial payments, paying as much of the rent as possible given their current circumstances.

In addition, the individual or family must have no other available housing options.

3. Why It Was Created

Why did the CDC issue the moratorium?

It boils down to disease prevention.

COVID-19 is an airborne virus that passes between people with ease. This is especially true if people are out and about or going into areas where they will be in close proximity to others.

Throughout the year, health officials and various members of the U.S. government have recommended social distancing. For many people, this has meant staying in their homes for as much as possible and taking precautions when going out.

When people are evicted, staying home is no longer an option. They need to move and come into contact with a real estate agent in order to get a new home.

As such, the CDC feared evictions would further COVID-19 spread.

Need to Contact a Real Estate Agent?

Despite the eviction moratorium, many people have still been forced to move during COVID-19. 

Perhaps they didn’t qualify under the moratorium or they accepted a job offer in another location. Either way, they find themselves suddenly in need of new housing.

If this sounds like you, don’t hesitate! Find a real estate agent with us today!

A Simple Rental Cleaning Checklist for Property Managers

rental cleaning

In 2019, 44 million U.S. households rented their homes. For property managers, that’s a lot of cleaning and preparation before the new tenant moves in.

Once you’ve screened your tenant and everything is all clear, the next step is rental cleaning and making sure everything is in working order before moving.

Here is our simple rental cleaning checklist:  

Kitchen

From grease and grime to hidden breadcrumbs, the kitchen is the most used room in a home and can quickly become one of the filthiest. 

  • Use soap and water to wash the cabinets inside and out. Clean every corner and hard to reach areas. You don’t want to miss crumbs and attract pests. 
  • Scrub counters, backsplash, sink, and tables. Use bleach and water or a sanitizing cleaner to disinfect surfaces. Make sure the cleaner is safe to use with that specific surface material. 
  • Clean behind and under the stove and refrigerator. Wipe down the top of the fridge. 
  • Wipe down the exterior of the dishwasher and run a few cycles. Clean any other appliances inside and out. 
  • Run ice through the disposal to sharpen the blades and to make sure there are no blockages. 
  • Lastly, sweep and mop the floor. 

Bathroom

This is another room that needs a little bit of elbow grease. This entire room needs a deep clean.

  • Put toilet bowl cleaner in the toilet and let it sit. Scrub the inside of the bowl with a toilet brush. 
  • Run hot water in the tub and sink for one minute. Pour 1/2 cup baking soda and 1/2 cup white vinegar. Let it bubble and sit for 5 minutes and run hot water again to clear debris out of the drains. 
  • Spray and sanitize the toilet, sink, fixtures, tub, and shower walls. Use a separate cloth for the toilet and discard it after use. 
  • Wipe down the cabinets and drawers. 
  • Wash the mirror and shower doors.
  • Wash the walls and door with soap and water. 
  • Dust the trim and bathroom hardware. 
  • Sweep and mop the floor.  

Bedroom & Living Spaces 

Cleaning the bedrooms, living room, and hallways won’t be as labor-intensive as the bathroom and kitchen. This involves some basic cleaning and dusting.

  • Dust the baseboards, door trim, and window sills. Don’t forget the ceiling fans and light fixtures too.  
  • Sanitize and wipe doorknobs, handles, outlet covers, and switch plates. 
  • Remove any stains or discoloration from the walls.
  • Sweep hardwood floors and use a carpet cleaner to do a deep clean on the carpets. 
  • Check all outlets and light switches. Replace any bulbs that need changing and check batteries in smoke detectors. 

Maintenance

It’s not considered cleaning but general maintenance needs to be done before a new tenant moves into their house or apartment. Check the interior and exterior for anything that needs some light maintenance.    

Interior

Here is a short maintenance checklist for inside the house or apartment unit: 

  • Check water, gas, and electric to see if everything is functioning properly. 
  • Make sure all appliances are functioning as they should. 
  • Check your heating and cooling units. Schedule routine maintenance for these devices as well. 

Exterior 

Curb appeal is important! Make sure the exterior is maintained and attractive to potential renters. 

  • Make sure the lawn is mowed, weeds are pulled, and bushes are trimmed.
  • Sweep the steps, walkway, and driveway.
  • Clean out the gutters and check the roof for any damage. 

Did You Follow the Rental Cleaning Checklist?

The property is ready for rental if you followed this rental cleaning checklist. Make it look it’s best between tenants. 

Contact eFind Agent to find an agent to help you get the most out of your property.

7 Guidelines for Becoming a Great Landlord in 2020

Landlord Tips

Have you thought about becoming a landlord? You can join over 650,000 people who own and rent units out to tenants.

Renting properties can create a passive stream of income while you work or play.

Make sure to cultivate positive relationships with your tenants to prevent high turnover and keep the cash flowing. These landlord tips can help you become a popular business person, you’ll never have a unit sit open for long.

1. Repairs

One of the biggest complaints about landlords is that they don’t fix or repair anything. The difference between a good landlord and a slumlord is the condition of the rental units.

You can also save yourself some hassle by having a great realtor find you an excellent property.

If it’s not an emergency, schedule a convenient time for the tenant to inspect any damage or problems. Your tenants will appreciate this thoughtful courtesy.

2. Give Space

While it’s a good idea to develop friendly relationships with your residents, remember to give them space and privacy. Don’t show up at random hours to have conversations.

It’s great to have friendly conversations in passing and during rent payment. 

You can leave notes and gifts to long-time tenants, but don’t overdo it. Tenants will stay longer if they feel like they aren’t being watched.

3. Creative Lease

After a lawyer checks your standard lease to ensure legality, give it a look to see if there are opportunities to be creative.

If you don’t mind small pets, add an addendum and small fee for little dogs or cats. You can give exceptions to people if they are willing to pay a higher price. You’ll make extra money and make happy tenants.

4. Comment Cards

Invite suggestions and comments from your tenants to figure out what’s working or not. Try to perform exit interviews with residents who are leaving. They won’t hold back any reservations about your rentals.

Be a responsive landlord, and entertain all respectful criticism.

5. Laws and Regulations

As a landlord, you have the obligation and privilege to provide adequate services that meet state laws and regulations. Failure to follow all building and tenant codes can result in expensive fines.

Avoid getting a bad reputation by ensuring you’re in compliance with all local and state laws.

6. Screening

Your quality of life will only be as good as the tenants you allow to rent. Use a fair and tough process to screen your tenants.

Perform extensive background checks, credit checks, and research their references. The process might take longer, but you’ll get better tenants.

7. Show Grace

You can be a tough landlord with good business sense, but it also pays to show grace and compassion. 

If you know a tenant has fallen on hard times, then give a few extra days for the rent to be due. Your kindness won’t be forgotten, and your reputation will get positive reactions.

Landlord Tips to Build a Business

You can generate a steady stream of income and build a viable business with these landlord tips. Become the landlord you always wanted. 

If you are looking for properties to start renting out, then contact us today.

Do I Need To Hire A Charlotte Property Management Company?

Charlotte property management

There are many reasons that property owners chose the services of a Charlotte property management service. If you’re still interviewing tenants, collecting rent, and answering those 2 am emergency repair calls yourself, it’s time to discover who landlords just like you trust a Charlotte NC property management company.

What Is a Property Manager?

A property manager does just that, manages your income property so you don’t have to. A good property management company can help you keep your residential or commercial spaces full and help you maximize profit from your income properties.

Think of a property manager as a leasing agent, repairman, financial planner and legal expert on landlord-tenant relations, all rolled into one. You can find comprehensive services at https://rentbottomline.com/property-management/ .

What Do Property Managers Do?

A good property management Charlotte company helps find good tenants to rent space in your commercial building, lease an apartment, or sign up to rent a single-family home. The property manager will run background checks an credit report on tenants to ensure that you’ll have lessees that pay on time and respect your property. They’ll also conduct open houses and arrange for prospective tenants to view the property. A property manager can even handle advertising vacant space for you!

Once the Charlotte property management company has secured tenants for your rental property, they’ll also make sure that the lease is legal and covers every aspect of landlord-tenant relations. The property manager will collect rents and ensure that they’re paid on time and can even assess fines for delinquent payments. Should a tenant be consistently behind on paying rent, or if they’re otherwise in violation of the lease, the property manager can even work with local law enforcement to handle evictions.

Repairs and maintenance are typically the responsibility of the landlord, and if you’re not especially handy, these can be frustrating, take up your entire weekend, and can even cause you to miss sleep – if a pipe bursts at 2 am, you’re the one who will get the phone call. With a property management company, tenants can request maintenance or call an after-hours emergency line.

Finally, a property manager will conduct inspections of your commercial or residential space on a regular basis, ensuring that the tenants are keeping it in good repair and protecting your investment.

Will I Still Make Money With a Property Manager?

Most landlords agree that hiring a professional property manager has saved them money – even though a property manager charges a small fee, having a professional keep your rental space full, instead of you taking months to fill it with a well-paying tenants, maximizes your profit. After all, you don’t make money on an empty space.

Furthermore, local property managers are experts in the Charlotte real estate market. They can find other good investments for you, helping you develop a full portfolio of investment properties for passive income.

Ready To Get Started?

Are you ready to get started with a professional property management service in Charlotte? We’re the best in town – and we’re ready to help you keep your rental units as full as your bank account. Give Bottom Line Property Management a call today or visit us online today!