Did you know that more than 5.8 million households in America are behind on rent? That’s over 14% of the population. Pleasanton property management is tough and good Residents are an asset for your rental property. If you’re new to being a Landlord, you need to know how a good Resident is defined. That’s the best way to find what you’re looking for.
Need help? Read on.
After over 25 years of experience managing both single-family and multi-family rental properties in Pleasanton, Livermore, Danville, Dublin, and San Ramon, we’ve seen our fair share of good and bad renters. We’ve got some handy tips to help you identify the characteristics of a quality renter for your rental property – as well as what can make a good Resident, great.
Pays Rent On-Time
This is probably one of the most important things Residents can do. When they fail to make timely payments, you’ll find yourself out of pocket. Quality application screening ensures prospective Residents have reliable income and a good credit rating.
Reports Maintenance Issues Immediately
Getting maintenance requests at all hours of the day or night can be a pain, but it’s a key Landlord’s responsibility and often shows that a Resident is attentive to the property. It’s worse when Residents don’t alert you to maintenance issues promptly.
Let’s say a faucet is leaking. If the Resident lets you know about the issue right away, you will be able to fix it quickly. If you’re unaware of the problem, however, it could develop into a larger leak and damage cabinetry – something a lot more costly to repair.
Takes Care of your Property
Rental maintenance isn’t just your responsibility. It’s your Residents’ too. There are many small maintenance tasks that should be handled by Residents, including maintaining the landscaping, changing light bulbs, furnace filters, refrigerator filters, and good housekeeping. Residents with a positive rental history are more likely to take care of your property.
Adheres to the Lease
Resident rules in a lease agreement are there for good reason! But if Residents refuse to follow them, they won’t do you much good. A renter who sublets a room or paints walls, both of which are not allowed per the terms of the lease, can cause you a major headache and potential property damage.
On the other hand, good renters take care of the property like it were their own. They keep the house clean – and report maintenance issues promptly.
Renter’s insurance protects the Resident and Landlord. Renter’s insurance provides coverage for unexpected damage to the property. That means if a Resident floods your property or starts a fire, they’ll receive a payment which they can use to reimburse you for damage. It can also provide coverage for their own belongings.
Someone Easy to Work With
This is probably one of the most underrated characteristics of a great Resident. Some people are just difficult to work with. They have crazy expectations and behave like the laws of nature don’t apply to them, just because they’re renting. Great residents are easy to work with. When a maintenance issue arises, for example, they understand that Vendors need time to schedule service—and aren’t just sitting around waiting to help.
While some Residents are harder to work with than others, there are good renters out there too. Landlords need to know the tell-tale signs to locate the best fit for their properties.
Lives in the Property for Longer than Average
Turnover is expensive so great Residents live in the property for the long-term. It can be difficult to keep Residents for the long haul. But when you can find those rare types who plan on sticking around, they’re like gold. Renting to a Resident who wants to put down roots is a win-win for both you and them. Making extra concessions like allowing pets into the property can help too.
Needless to say, finding quality renters is easier said than done. It takes experience to identify the good from the bad. Taking care of a property once it’s been rented out is even more involved! That’s why getting a little extra help from a professional Pleasanton Property Manager is a good idea. Contact Advantage Property Management Services for help finding great Residents for your rental property.