Getting the tenant you’re looking for isn’t just about screening applicants. You’ll also need to craft a compelling rental application and how to write a rental application and promote your property effectively. In this article, we’ll highlight how to attract the best renters, with tips for landlords in Florida.
Marketing Your Property
How you showcase your home plays a significant role in attracting high-quality tenants. Especially in competitive markets like Florida, ensuring your property stands out is key. Here’s how you can reach a model tenant:
- Carry Out Repairs: Ensure the property is in excellent condition. Florida renters often look for homes with updated features that can withstand the state’s climate, such as hurricane-proof windows or well-maintained air conditioning units.
- Take Great Photos: Take high-quality photos in natural light once your property is ready. Highlight Florida-specific perks like a pool, screened patio, or proximity to the beach.
- Don’t Hide Anything: Be transparent during viewings and in your photos. Trustworthy listings encourage trustworthy tenants.
- Share the Listing Widely: Use platforms like Zillow and Realtor.com, and tap into Florida-specific forums or Facebook groups dedicated to local housing.
- Highlight the Location: Tailor your listing to your ideal tenants. For example, mention proximity to top-rated schools in Orlando for families or nightlife options in Miami for young professionals.
- Price It Right: Florida’s rental market varies significantly by city and neighborhood—research local rates to set a competitive price.
- Set Clear Expectations: Florida law has specific regulations about tenant screening and rental disclosures, so ensure your listing communicates any restrictions, such as a no-pet policy or smoking rules.
Using a Rental Application Template
Your rental application can also help you here. This document outlines everything applicants will need to provide. The more comprehensive this is, the easier it is for them to complete it. Use an online template to save time and get an application that suits your state.
Here’s what your rental application should have:
- The potential tenant’s basic contact details.
- Information about the property’s availability.
- Specifics about the lease length and deposit amount.
- Requests for a tenant’s long-term rental history.
- Space for the tenant to outline their income.
- Credit and general background check requests.
- Space for a tenant’s referee details.
A good template will also abide by the federal Fair Housing Act. This means it won’t collect any potentially discriminatory data or ask probing questions. For example, an FHA-compliant application cannot ask about a person’s disability status.
The Tenant Screening Process
Running background and credit checks can help you find model tenants. At the very least, it helps you know the full story behind potential renters. However, don’t dismiss someone just for having a red flag. Give them a chance to explain this.
Tenants will also need to verify that they’re employed or otherwise have enough money to cover rent. If they’re a freelancer, you might need to see their self-employed tax returns.
Screening also looks at someone’s past rentals, if applicable. This might reveal that they have had a previous eviction in their name. They may have also struggled to pay rent in the past. You could even speak to their ex-landlords to learn more.
Negotiating Rent Prices With Tenants
Even if your prices are fair, you might be willing to adjust them for the right tenant. For example, they may offer to sign a two-year tenancy. As this affords you more long-term security, you could consider a lower monthly rate.
You can also offer incentives to make the price more worthwhile to interested renters. This could mean replacing the current furniture and even appliances before a tenant moves in. The more bang tenants get for their buck, the more high-quality applicants you can get.
Your rates must fit the local rental market. According to recent research by the US Treasury, rental rates are growing faster than incomes. High rent could price out some of the best tenants you’ll ever have.
Retaining Quality Renters
You’ll naturally want a model tenant to stick around for some time. Work hard to develop a good relationship with your renter. This means responding to their queries or needs on short notice.
In doing so, you’ll encourage them to renew the lease. Make sure the price raise (if there is one) is reasonable. It should also fit your state’s rent regulation laws, if applicable.
Ultimately, the best way to retain an ideal tenant is to make sure the place stays great. You can even ask them directly for their feedback. This shows you what the property might be missing.
If you want to attract the best renters, every detail matters. This includes how you write a listing and your actual in-person conduct. Make sure you also use an online rental application template that’s up to scratch.
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