Property management, Important Tenant Management Tips For Property Managers

An empty house is better than a bad tenant. Keep this motto in mind before renting your property the next time. But how do you know who is a bad tenant? How do your shortlist the ones that come and check out your property and want to pay upfront? You may have tons of doubts in your mind. And it’s good to have doubts because it helps you clarify them when potential tenants come by. When it comes to rental property management, you need to keep a few tips in mind so that you don’t have to face any issues later.

1. Always pay attention to the screening process

A successful property owner always takes the screening process seriously while choosing tenants. You need to come up with a rental application containing the questions you want to know from potential tenants who like your property. Some of the questions that you may ask are as follows:

• Is the potential tenant already renting another house? If yes, what’s the location?

• What is the tenant’s job and how much does he earn monthly?

• When does the potential tenant want to move in?

• Does the potential tenant have a family? If not, will there be more people staying with him? If so, how many people would stay?

• Does he have pets? If yes, how many?

• Has he been evicted earlier?

• Is the potential tenant ready to sign a year-long lease agreement?

You should always verify the answers by getting in touch with their employer or past landlords. It is also wise to run a criminal background check and credit check before handing over the keys to your property.

2. Keep the leased agreement ready

The lease agreement is the most essential part of tenant management. It explains in detail what the tenant can and cannot do. The agreement also shares details of what the landlord can do if the tenant violates the lease rules. Make sure you write the lease agreement in the simplest terms so that the tenant can understand everything. It should cover all the necessary items, such as property alterations, property use, pest control, pet clause, subletting, parking, and lawn maintenance. Also, make sure you mention the consequences if the tenant does not pay rent on time.

3. Manage your property professionally

Always communicate with your tenant as professionally as possible. No matter how friendly the tenant is, don’t get swayed by their easy-going nature. Whether you interact via email, telephone, or face to face, maintain a cordial relationship so that the tenant knows that he should take your words seriously. Be strict from the first day about the clause mentioned in the agreement so that the tenant doesn’t dare to bend the rules.

4. Follow a clear rent-collection procedure

Make it clear to the tenant about the payment method right from the first month. If you prefer bank deposits, don’t hesitate to say upfront. Also, mention the last date within which the tenant should clear the rent. You can also send automated reminders five days prior to the due date.

5. Offer incentives to good tenants

It’s not that you will often come across bad tenants. You may have the good luck of finding good tenants around. It is easy to retain such tenants by offering them incentives like upgrading something in the property. You can start by changing the flooring, adding a coat of paint on the exterior, or decorating the backyard. In fact, you can also let the tenant decide what upgrade they want. That should make them feel important and would enable them to renew their contract soon.

Tenant management is easy as long as you have a thorough screening process. The rest is part of the process that you can follow once you shortlist the potential tenants.