Most property owners agree that the most beneficial reason to hiring a property management company is the concept of freedom. By using professionals to manage your property you will not need to be in the vicinity to complete transactions. For example, you can take a vacation when the manager deals with tenancy issues in your property.
The task of attracting tenants to your property isn’t the difficult part. It’s attracting good quality, long-term renters that is.
A professional property management company in Miami can help you in this regard. Among other things, they can help narrow down your options and do background checks on prospective tenants.
What’s the quickest way to attract long-term tenants?
Understand your target market and provide the essentials that they require. If you understand the type of people that currently live in your area and the selling features of your property, it makes it easier to market and advertise.
Continue reading to determine ways to attract and keep long-term tenants in Miami, Florida.
Advertise a finished property
If your property is undergoing renovations before you plan on renting it out, make sure to only advertise the finished product. It’s difficult to picture what a place will look like if there are major renovations taking place. You want your property to look as appealing as possible, therefore focus on the end result.
Open houses are beneficial
Open houses are beneficial because many scheduled appointments don’t end up going through. With an open house, it gives potential tenants the opportunity to take a walk-through with no pressure.
By allowing prospective tenants to come in at the scheduled open house visits, shows that you’re a flexible landlord and look for ways to offer conveniences to them. We understand everyone has a busy schedule, which is why opting for a property management company will relieve some stress and free up some time as a landlord.
Rent out your property slightly below market value
When choosing to rent out your property slightly below market value, will attract a higher number of quality rental seekers. It makes your property more attractive to potential renters and increases your chances of selecting a long-term tenant.
Attracting long-term renters cancels out prospective tenants who aren’t interested and caters to the needs of those who are.
Look into your potential renters
Do whatever you can to protect yourself and your Miami property. Have a proper tenant screening process.
You should conduct background checks, call their current and previous employers, and speak to previous landlords that they’ve rented from. This will help you in determining the type of renter they are.
Don’t hide things from your tenants
With anything, it is imperative to be open and honest about what is included and what is not included in your rental. The last thing you want is a tenant backing out because you forgot to inform them that the utilities weren’t included in the rent.
Due to the fact that there’s a lot of competition in Miami, ensure to set everything straight from the beginning to avoid wasting both your time and theirs.
If there are attractions nearby, make sure to include them in your listings. Try to include the selling features that tenants would love.
Be flexible with your payment options
If you can be flexible, try and offer multiple options for payment methods for rent. Certified checks, cashier’s checks, and online payments are the most commonly used ones today by landlords.
Cash can be difficult to document and easy to dispute, credit cards will charge you a transaction fee, and personal checks cannot be verified until you try to deposit the check at the bank. For these reasons, try to avoid accepting any of the aforementioned payment options.
Today, more than 3 billion people are using the Internet, according to the United Nations agency that oversees international communications.
By advertising online, your property will be seen by a much larger pool of potential renters than if advertised elsewhere.
Depending on whether or not you want to attract students, business professionals, or families you will want to advertise your Miami property in the appropriate places online.
You need to correspond with your wants and needs and take appropriate action in order to rent out your property in Miami long-term. Conclude where your advertising dollars will be best spent and put your money there. Go after the type of renters that you want and make sure you use quality photographs to showcase your place.
With the right resources, you should be able to rent out your property to long-term renters in Miami in a timely manner. If you choose to go through a property management company, we will do everything we can to ensure you get long-term renters of quality.
Put the stress on us, we don’t mind. Contact us today.