Don’t be too eager to just fill that vacancy. Great tenants make the landlord experience not only more rewarding, but much more profitable. Great tenants will stay longer (so less time between renters), pay more promptly, and take better care of your investment.
Make sure you:
- review a tenant’s application
- do a background search and check tenant credit
- check references and previous landlords
- take some time to talk to the tenant and be clear about expectations on both sides
You may wish to consider hiring a property management company to do many of these things, but if you do you will still need to make sure you clearly communicate to them what your own expectations are for the kind of tenants they place in your property.
Whether you hire it done, or do it yourself, you want great tenants, not just any tenants!