When it comes to reaping long-term benefits out of a rental investment, many people focus on the location and condition of their property. However, the factor that is far more important is the kind of tenant renting your property. What should you look for in a tenant when you have a house for rent in Stillwater, MN? How do you reach that type of tenant? And how do you make sure they’re the real deal? Read on to learn how to best protect and invest in your rental property.
What makes a good tenant?
If you have a house for rent in Stillwater, MN and you’re searching for the perfect tenant, you need to learn what makes them trustworthy enough to rent your property. The obvious qualities to look for in an ideal tenant include someone who would be willing to pay the rent on time, stay for the long-term, and take great care of the house.
Despite sounding like easy requirements, it is rather hard to find a tenant who possesses all of these qualities. Following are a few ways in which you can attract the ideal tenant for your house for rent in Stillwater, MN.
1. Creative marketing
The first step to locating the ideal tenants for your rental house is by reaching your target audience via effective marketing. In addition to advertising in the local newspaper, listing your house on trusted online sources is a great option as well.
2. Investigating the tenants
Another effective way to ensure that your tenants are what you’re looking for is to require them to fill out extensive application forms. The more information you have, the better equipped you’ll be to select the perfect tenant. Additionally, you can visit them at the place they are presently residing to see how they treat their current home. This is an obvious indication of how your property would be treated under their watch.
3. It’s not all about the money.
Many people believe that successful renting means high-paying tenants. However, this may not always be the case. For example, a group of college-aged kids might pay you more for your property, but there is a greater chance of them ruining the property by throwing parties and not taking care of it. While a family might not pay you as much, they may be more likely to take better care of your place and could be a better choice.
Here’s the bottom line: be thorough in your investigation of the people who will be living at your property. You will be grateful when it’s well cared for and holds its value for the long haul.
If you are a tenant looking for a great house for rent in Stillwater, MN, contact Applegate Property Management.