When
anyone decides to rent their property, the first and foremost fear that hunts
mind of the property owner is of tenants. Handing down one's property to
strangers is a risky business. Although getting tenants for your rental
property is quite easy, getting good tenants who pay on time and who abide by
the contract is very rare.
There
are various types of problems faced by property owners. These problems include
tenants who do not pay rent on time, tenants who smoke indoor (although you
have prohibited them), tenants who keep pets (without mentioning in agreement),
tenants who host too many parties etc. These are just a few examples of a
number of problems that property owner faces.
Dean
Graziosi
holds the opinion that it is attitude of property owner that will decide about
type of tenants. It is your property and you hold all the rights on it. You
have legal support as well as support from government. Dean explains that you
must choose your tenants very carefully. This strategy is better than trying
one after another tenant.
Dean
Graziosi is a real
estate
millionaire. He started real estate business at the age of 18. His first real
estate deal was based on renovation and selling of a run-down apartment
building. There was no money left in his pocket when he had finalized the deal.
Later on, when the deal went successfully, he started taking the business of
real estate seriously.
Dean
belongs to a poor family, his parents separated at the time when he was just
three years old. Since then he started switching homes, sometimes he was at his
mother's place other times at his father's place. Leading such a miserable life
never took courage away from this determined man. He returned to life with zeal
and zest. Today Dean is a millionaire, a bestselling author, a successful
entrepreneur and a very caring and loving husband and father.
In the
light of Dean's teachings, following are given some very useful tricks that
will help you find good tenants.
Provide Complete Details:
Good
tenants require details about house. They need to know how house looks like,
how many rooms are there, is there storage space, does you allow indoor smoking
etc. It is necessary that you must take clear photos of your property. Explain
each and every detail of the room. Explain locality and neighborhood and
provide details of the town or city. Description of town is helpful for those
who are moving from other places.
A Website:
Having a
website of your own gives you unlimited space to share details about your
property. You can generate leads towards your website by placing links on
different websites related to real estate. Purchase a domain name (usually 10$
per year).
Publicity:
Expose your property on websites that allow ads
about rental properties. Posting ad on just one or a few websites will limit
your visibility. Good advertising websites cost few dollars. If you hesitate to
spend money on advertisement, do not forget that good tenants do not rely on
scam websites for rental property search. They will believe on good and well-reputed
websites.
Screen Your Tenants:
If you
are going to finalize a deal with tenants, never forget to screen them. Start
by pulling their credit reposts. This will help you observe if they have missed
rentals. Also, verify their source of income. Unemployed tenants are mostly
likely to skip paying rentals. If possible, ask them to show you some referrals.
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