How to Write an Effective For Rent Ad

Posted by Teresa on May 26, 2009 under Landlord Tips, Marketing for Landlords, Screening and Background Checks, Tenant Credit Checks, Tenant Screening & Background Checks | Be the First to Comment

When it comes to written communication, the “Two Cs” should be top-of-mind: Clear and Concise. This is particularly important when composing an ad for a rental unit. Follow these steps to an easy, effective ad:

1. Attract attention. Make your newspaper ad stand out by adding a border or bold headline. On Craigslist, the descriptor is short, so use creative language: “Amazing house in Oak Tree neighborhood,” “Best $500 apartment in town,” or “Hardwood floors, 3BR, super-quiet” are all ways to capture attention quickly.

2. Be clear.  At a minimum, list the number of bedrooms and baths, the neighborhood, parking information, and the monthly rent. State that you check previous landlords, criminal background, and credit history. You can eliminate unqualified tenants easily with a well-worded ad. 

3. Use photos. A picture is truly worth a thousand words. A photo can instantly tell a prospective tenant whether your rental property is the right place for them. 

4. Don’t skip the details. Do you include utilities with the rent? Say so! Are you okay with pets? Put it in the ad. Are you completely against smoking in your rental home? Tell us! Tell readers about the schools, whether a grocery store is close by, and all about the beautiful landscaping. Brag about your place, and you’ll get enthusiastic responses. You want the most qualified tenants to act upon finding your ad. 

5. Make it easy to respond. Put your primary phone number in the ad, as well as an email address. For Craigslist ads, all responses will be through the site’s secure email unless you add a telephone number in the ad. 

6. State a good time to call. You can certainly list what time you will accept telephone calls from prospective tenants. And if a call is made outside that time, the caller either didn’t notice, or didn’t care that you requested otherwise. It’s a good screening mechanism to find the tenants you’ll get along with best.

An effective ad is the first step in prescreening tenants. You can eliminate the ones you don’t want and attract the ones you do by being clear, descriptive, and detailed in your newspaper or online For Rent ad.

Landlords and Maintenance: Working with Contractors

Posted by Teresa on May 5, 2009 under Landlord Tips, Screening and Background Checks | Be the First to Comment

Maintaining rental property can be a big challenge for landlords. There is always preventative maintenance that should be performed to keep your rental units in top shape. And then there are the emergency repairs that require your attention now.

If everyone around you clears the room when you start handling power tools, you should definitely hire an expert to help you with rental property maintenance. Even if you consider yourself reasonably handy, an endless to-do list probably means you need some help. Sure, you can save money by performing your own repairs and maintenance, but is that the best use of your time?

Finding the right balance between hiring expert help and breaking the bank isn’t easy. Consider these tips for finding and hiring a professional to help you keep your income property safe and functioning properly.

First, determine whether you need to hire out for individual projects, or if you’d rather enter into a longer-term contract for regular maintenance and repairs.

Research your local builder and remodeler organizations—they’re a great source for contractors and repair people. If you contact companies who cannot help you—for example, the work you need is below their ideal level—ask for a referral to an individuals or subcontractors with excellent track records and experience in rental property maintenance and repair.

Once you have contacted several individual contractors or repair people, conduct your due diligence: make certain they have all the required licenses and insurance in place, meet with them to ensure you can establish a good rapport, and ask for references. Your state licensing entity can provide current insurance and bond information. And don’t neglect to contact their references!

Set your job specifications and obtain proposals from each contractor. Award the project based on pricing, experience level, and references, keeping in mind the lowest price may not be the best choice. Work with the firm or individual you feel most comfortable with.

Be sure you have a clear understanding about payments and contract details. Do not fall prey to a contractor who requests payment in full before the job begins. Deposits and progress billing are reasonable, depending on the size of the job. You should withhold at least 10% of the contract price until the entire job is completed to your satisfaction and specifications. And make sure they clean up the job site, too!

And finally, be sure to properly supervise your repair and maintenance people. Do not allow anyone to have unlimited, unsupervised access to your rental property. For more security, consider background screening checks on any individuals you hire to perform work on your behalf. Mitigate your liability and keep your tenants safe by knowing exactly who you are hiring.