When setting the rates for your rental properties, you have to make sure your rent prices are set high enough so you can cover costs associated with being a landlord (like your mortgage, insurance, taxes (*sigh*), maintenance), but also be low enough to be competitive in the market.
Yeah, we know – that’s a lot easier said than done.
But as a College Pads customer, finding the sweet spot for rent prices is about to get a little easier with Rent Index. Check out how the Rent Index will help you stay competitive in your market!
Generally speaking, turning over a rental property takes a landlord or property manager between 9 to 10 days. But with a little planning, you can easily streamline the turnover process and get it ready for the next round of tenants, saving you time and money.
Here are 5 easy tips for streamlining rental turnover:
What To Do Before, During, & After Tenant Turnover
If you were lucky, a majority of your tenants decided to renew their leases and stick around for another year. If you weren’t so lucky, the dreaded tenant turnover process is right around the corner. While the anxiety of getting one group of tenants out, and another group in may be keeping you up at night, there are definitely things you can do to make the process easier on yourself.
Here are a few things you should make sure you’re doing before, during, and after tenant turnover:
Whether you own a condominium, duplex, single-family home, or a huge purpose-built apartment complex, all landlords share the same goal: to keep your units full and maximize profits. But finding the right mix of cost minimization while increasing resale value and growing rents isn’t easy. One of the more obvious ways to achieve this goal is to make a few rental property updates.
When you think about it, getting a prospective student tenant’s attention comes down to just a few seconds. Today’s world is a quite hectic one, and in the world of smartphones and the internet, students are scrolling and sifting through rental listings in just a matter of moments. Just as quickly as someone can stumble upon your listing, they can stop looking at an even quicker pace. When students have the power to search through hundreds of listings with the swipe of one finger, it’s important to make a good first impression. As the old adage goes, pictures really do say a thousand words, and whether or not you realize it, including quality photos of your rental property can really make or break your odds of leasing it out.