A green, manicured yard can be a huge draw in for tenants. It'll evoke daydreams of summer barbecues and frolicking puppies, of sitting in the garden with a good book, or picnicking with the kids on the lawn. The benefits of having a nice yard are easy to see, however it's important to set the expectation for prospective tenants that a yard is also a responsibility that requires maintenance.
When it comes to allowing pets in your rental property, we often imagine the worst case scenarios. Our minds flash to Baxter the labradoodle chewing up the baseboards and Felix the tabby cat hacking up hairballs on the carpet. We imagine stains and lingering odors, rogue hairs and scratches on the hardwood. We can get creative imagining the list of potential damages, however the reality is, pets simply aren’t all that destructive. Statistics are showing that opening your doors to Baxter may actually be a pathway to increasing your rental revenue.
Whether you own 1 or 15 rental properties, showing your vacancies can be a time consuming and stressful job. There are typically going to be several showings before you and your tenant make a final decision to sign a lease together. For each one of those showings, you’ll need to coordinate timing, drive over to the property, give a tour, answer questions, drive home, follow up, and wait to hear back on next steps. For 80% of property managers, scheduling showings often means taking time off of work or taking time away from family on evenings and weekends.
The goal is to prepare for your upcoming vacancy by marketing it right away and getting a new tenant lined up to minimize transition costs. There are several popular marketing tools you can use to help you spread the word and get new tenants. Browse around some of these sites and see if they’d be a good fit for you to reach potential renters in your area:
Once you gain traction on your listing and you get some inquiries, suddenly there are a lot of logistics to manage. You'll need to review applications, run background checks, and coordinate showings of your space.