Congrats! You’ve just finished the home improvement project you’ve been working on. It may have taken way longer to complete than you’d initially thought, but it all looks fantastic.
Of course, just when you’d like to sit back and enjoy the fruits of your labor, you receive military orders for a new assignment. With the time and effort you’ve put in, this abode is a “keeper,” so you opt to list it as a rental. Look at you! You’ve become a landlord.
Your New Business
When taking on the role of a landlord, your perspective needs to be the same as running an efficient business. Keep all of the details organized, treat everyone involved with respect, and place a high level of importance on the needs that may come up. It is more than just a hobby; you’ve now branched into another level of homeowner responsibility. Begin with this article, Be Prepared: Tips For Getting Your Home Rented.
Find The Best
Good tenants are sometimes hard to find, but they are out there!
Start your search for tenants by posting online with MilitaryByOwner. MilitaryByOwner offers a wide variety of resources to prepare the way to rental success. From property listings to legal forms, the MilitaryByOwner website is a must have on your browser Favorites or Bookmarks.
Pique tenant interest with a dynamic ad. Include a good photo of your property and share positive details about the neighborhood. Point out stellar schools nearby, accessibility to public transportation, convenience of local shopping centers, and walkability to parks and trails. Highlight special features of the property, such as a generous sized garage, refreshing pool, or toasty fireplace.
Use social media to your advantage. A Facebook post, a Twitter link, or an Instagram photo may go further than you expect when networking your property to potential tenants.
When the rental applications start rolling in, screen each candidate with the same process. No matter if they are a referral from your best friend or an employee from the business across the street, treat each applicant the same and set a high standard.
As a landlord, it's important to treat tenants with dignity and respect. No matter what your personal opinion of the tenant may be, in this business relationship, treating the tenant as an equal adult is the right thing to do.
Make it clear that you will fulfill the obligations of your role as a landlord and that you expect the renter to fulfill the obligations of their role as tenants.
Connect with other landlords while you embark on this journey. Browse the MilitaryByOwner.com blog posts and useful resource links. Learn from the experiences of other homeowners. With the first few steps discussed here, you’ll be on the path towards real estate rental success!