Kathy A. Torline-Nordstrom
ERA Herman Group Real Estate
Serving Colorado Springs
Colorado Spring Landlord Tips
In my opinion, being a happy landlord is all about having good quality tenants. Bad tenants, mean lots of work, extra money, and more headaches. Good tenants equals a happy landlord.
Here’s 18 Tips for Landlords to attract and screen good quality tenants
Search for Colorado Springs Duplexes and Fourplexes
- Don’t show an unfinished property: If you are fixing it up, wait until it’s done and completed before you show it.
- Research your competition: Check out Craigslist and see what other properties are renting for. Drive by other units for rent.
- Advertise the rental online. Include as many photos as possible. Craigslist still works. Try out Zillow, Trulia, postlets.com.
- Advertise the proximity to bus lines, hospitals, colleges, shopping, parks.
- Put a For Rent sign in the yard of the rental (or in the window). Signage still works.
- Put together a packet of information to give perspective tenants that explains the rent, the policies, what the rent includes, and the rental criteria.
- Screen perspective tenants before you show them the property. No need to waste time if the tenant won’t meet your qualifications.
- Charge an application fee. Let your applicant pay the fee; explain to them what the fee includes.
- Take a look at the inside of an applicant’s vehicle. Walk the prospects to their car after showing them the rental.
- Charge more for pets. Decide on your pet policy before you start showing the property. How many will you allow? What size? Any breed restrictions?
- Don’t hand over the keys to the rental until the check has cleared. Better yet, ask for a money order, cashier’s check or cash for the deposit and the first month’s rent.
- Do a preliminary walk-through with the tenant before they move in. Explain how things work in the unit, including the heat, the appliances, the light fixtures, etc.
- Take photos (or videos) of the property before the tenant moves in. Date stamp the photos. Let the tenants know that you do this.
- Make it easy for your tenants to contact you by phone, by email, or by text. Decide on how you are going to handle repairs.
- Give your tenants an incentive to pay early You may want to offer them an early payment discount.
- Get references from previous landlords. Check and make sure you are talking to the right person when you are getting references. Ask them good probing questions.
- Understand the Fair Housing Act. It prohibits landlords from using any of the following criteria when evaluating potential tenants: race, color, national heritage, religion, gender, disability, and familial status.
- Have a written lease, make sure a lawyer has approved the language in it.
For even more information, contact Kathy Torline by calling or texting 719-287-1049, or email [email protected]