by Barker Realty, Inc. | Jun 6, 2023 | Apex Investment Property, Apex Property Management, Local Property Management, Tenant Acquisition, Tips for Landlords
Rental season is a challenging time for property managers as there are many things that can make it difficult for a property management company to fill the vacancies. More millennials are starting to buy homes. Occupancy rates are also starting to decrease. Fortunately, there are many seasonal leasing tips that will make it easier and our team wanted to share a few.
Show off Your Rentals
It is estimated that half of the US population use their mobile phones in order to find a place to rent. That is why it is important to make sure that your website is optimized for mobile use. You also need to make sure that you put your rental listings in the right place, there are good pictures and amenities are listed to enhance the property.
Follow Up With Them Quickly
Most renters want to get information about a property as quickly as possible. When someone inquires about the property, you will need to follow up with them as soon as possible. Barker has an efficient system in place to follow-up with all potential tenants and answers the numerous questions they may have.
Screen Your Tenants
Bad tenants can create a nightmare for a property management company, which is why you will need to thoroughly-screen them. Do a background check, credit check and have them fill out an application. Barker has a strong lease agreement and thoroughly vets each and every applicant.
Effortless Conversions
You want to get your new tenants moved in without having to go through additional paperwork. A streamlined process will make things a lot easier for you. Barker allows for online lease signing, has a new tenant checklist and even offers a moving assistance service called Updater for our residents.
Make Your Renters Happy
If your renters are happy, then it is likely that they will stick with you for a long time. It is also easier to retain tenants than attract new ones. You can make your tenants happy by addressing their problems and concerns quickly. You may also want to give them a renewal incentive.
If you need help from our property managers in Apex, feel free to contact us for more information.
by Barker Realty, Inc. | May 9, 2023 | Apex Investment Property, Apex Property Management, Tenant Acquisition, Tips for Landlords
For property owners in the Apex area, investing in real estate properties can be a great option. However, for those investments to be successful, you will need to keep them occupied. There are certain times of the year that can be very busy with renters. To ensure you do as well as possible, there are seasonal leasing tips that should be followed.
Showcase Your Property
One of the best seasonal leasing tips to follow would be to showcase your property. Many property owners make the mistake of not showing off their investment enough. If you want your homes to lease quickly, host open houses and make them look as attractive as possible inside and out.
Follow Up
When working with our experienced property managers in Apex, you also want to make sure you follow up with potential tenants quickly. Property managers should be able to show units to prospective tenants, answer follow-up questions, and doing a variety of other things to make sure that prospects are interested in the property.
Screen Tenants
It is important that applicants are screened properly. Run a full background check that includes running credit reports, criminal background checks, income verification, and referrals from current and previous landlords. This will help you in obtaining a quality tenant.
Provide Good Service
Ultimately, for your investment to perform well, you will need to provide good service. By working with our Apex property management company, you will be able to develop a plan and protocol for dealing with tenants and ensuring their needs are met. Satisfied tenants are more likely to stay longterm, which will reduce your turnover. It will also improve your reputation in the marketplace, which will make it easier to lease properties in the future.
Barker Realty is trained and skilled at managing these details. If you are interested in learning more about our services and letting us manage the details of your Apex investment property please contact us today!
by Barker Realty, Inc. | Oct 11, 2022 | Tenant Acquisition, Tenant Management
Property Rental Applications: What You Should Include and Why It Needs To Be Top Priority
When real estate investors put their time and money into a rental property, the last thing you want is for that property to be rented to someone who won’t pay their rent or destroys the property. That’s why hiring professional property managers or a property management company can be crucial. Just as critical, though, is the application. If you hadn’t thought about using an application, you should.
Quality Tenants
You want to make sure that you’re renting to quality tenants. A quality tenant is someone who is able to afford the rent (a general rule of thumb is that their income is at least three times the rent), has a stable job, has paid their rent on time in the past, has a clean criminal record, and is responsible. It is best to have a process that confirms the information.
Rental Property Application
Property managers review applications every day. Hiring a property management company will give you the ability to use a rental property application without having to create it or review it yourself. However, before hiring someone, you should look over their application.
It should include, at a minimum:
- Contact info for the prospective tenant
- Current address and landlord’s name and contact info (prior landlords are a bonus)
- Current employers, job title, salary, length of employment
- Credit and background check authorization
If any of these things are missing from the application, ask for them to be added. If a prospective tenant fails to fill in any of this information, that should be a red flag.
Verify Information
Real estate investors should also make sure that their property manager verifies the information that the prospective tenant provides. They should verify employment and references. When possible, they should contact the current landlord and make sure the tenant pays rent on time, and isn’t a lot of trouble. They should also contact prior landlords. While a current landlord may lie to get rid of a problem tenant, a prior landlord will have no reason to lie and thus will admit if the tenant failed to pay rent, damaged the property, etc.
Get in touch with us today to find out how we can assist you!
by Barker Realty, Inc. | Sep 20, 2022 | Featured Article, Tenant Acquisition, Tenant Management
Many investment property managers want to know what they need to do if they purchase a tenant occupied property. The first steps that you take will determine your success as a property manager. Here are some items from Barker Realty to consider implementing to get you started and on the right track.
Collect Previous Documents
It’s important for the property management company to collect all necessary and supporting documentation. This documentation could outline: Who is the tenant? What is in the lease? What amount of money are they paying each month? Another documentation item to collect will be the rent roll, residential lease, tenant applications, lease addendums, inventory-condition report and others. Contact us for more information or to schedule a consult with a seasoned property manager in our office to help you start the process.
Let the Tenant(s) Know
It will be the role of the investment property managers to let the tenant know about the new owner. Tenants should have a right to know who they will be paying. You will have to decide whether you want to hire a property manager, or you want to take care of this yourself. Notifications by multiple channels via mail, email, a phone call or even in-person are great ways to communicate with tenants regarding these types of changes to their living space, but also to their life.
Frequently Asked Questions About Tenant Occupied Property
Letting the tenant know about the change and collecting the necessary paperwork are the basics. Next, we’d like to share a quick list of questions that you may have.
Q: How Easy is it to Make the Transition?
A: The transition should not be difficult if the information is easily available. The process will only be difficult if there are documents missing. Consider all angles and cover all bases when taking over a tenant occupied property and be prepared to quickly make decisions.
Q: Will I Keep the Tenants?
A: You may be wondering whether you should keep your current tenants or get new ones. Is the tenant paying the rent on time? Is the tenant paying the market rent? Have they made any repair requests? Those are some of the questions that you should ask to deem the tenants in good standing order or one who could pose issues in the future. Communication is going to be key at this point.
Q: What Are Some Things That Can Go Wrong?
A: The honest answer to this is, ANYTHING. Really! Problems can arise from anything or anywhere, so it’s crucial to implement processes like taking proper move-in pictures or creating and checking off an inventory condition report. If you have any issues with your tenant, then you will not be able to prove anything in court without the necessary documentation. Additionally, a missing rent roll can also create problems. You will not know whether they paid last month or still owe. A tenant can tell you that they paid their rent, but they really did not. You cannot prove that they did not pay if you have a rent roll.
In need of a highly skilled and valuable property management company in Durham, NC? Barker Realty is only a phone call or web form submission away. Contact us anytime!
by Barker Realty, Inc. | May 10, 2022 | Property Management Blog, Tenant Acquisition, Tenant Management, Tips for Landlords
Tenants are the heart of the property and if property managers and rental property investors do not have them this affects their investment. The property/properties become less desirable and they aren’t generating income. Property investors often have one question in mind, “How do you keep the properties filled in order to maximize revenue?”. One major answer to that question is communication.
From the Tenants Perspective
Many tenants believe that their property managers really do not care about them. They think that property managers are just there to send out letters and collect money. If that is the tenant’s point of view, then they do not have any reason to renew their lease. They may start looking for a new place to live long before their lease is up and at that point, it’s hard to get them back or to change their mind.
Communication is Essential
It is important to keep the lines of communication open between tenants and property managers in order to build trust in each other. Property managers should be able to address any concerns that the tenant has. Even if they cannot solve the problem right away, they should still show that they care about the issue and will help to figure out a solution. It’s a great feeling knowing that you’ve been heard.
Property managers can also show appreciation to their tenants. You can give your tenants a thank you phone call or offer other benefits for renewing their lease. These are small ways that you can let your tenants know that they are appreciated. This shows the tenant that their presence is appreciated.
Going above and beyond can make a major difference in tenant retention. It is important to make sure that your tenants feel as though their voices are heard, and they are valued. Keep in mind that if you are able to retain more tenants, then you will be able to bring in more rental income and have a better reputation for your investors or property owners as well.
Get in touch with Barker Realty if you are in need of a polite, experienced, and over-communicating property management company. We look forward to working with you!
by Barker Realty, Inc. | Jan 3, 2022 | Tenant Acquisition, Tenant Management, Tips for Landlords, Tips for Property Investors
As leading Cary property managers Barker Realty screens prospective tenants carefully to filter out any renters who might cause problems for our clients. Over the years, in no particular order, we have identified many ways to properly screen tenants before a lease agreement is signed as outlined below in five examples.
1. Review Credit History
Prospective tenants who have a history of making their payments on time will likely be inclined to consistently pay rent on or before the due date. A low credit score may indicate a lack of responsibility and could signify other financial problems that will make it harder to pay rent on time. Anyone who wishes to rent a property should agree to a credit score check.
2. Search Through Social Media
A prospective tenant’s social media history can give clues on the type of renter that he or she would be. Searching for particular profiles on popular social media sites like Facebook, Instagram, Twitter or LinkedIn can give property managers the tenant screening help that they need to uncover important information.
3. Check Eviction History
It is also important for a rental property manager to investigate the eviction history of a person who wishes to rent. If any prior evictions were the result of rental nonpayment, property damage or the harassment of other tenants, it is best to choose a more reputable applicant.
4. Perform a Criminal Background Check
Most people’s criminal histories are available for public viewing by obtaining records from the local municipal court or through various online websites/software. Landlords can protect themselves by reviewing the arrest and conviction histories of any people who wish to rent from them. Some criminal history information may not lawfully be able to be used to make a final decision on whether or not to rent to a person, so it is important to check local and state laws in advance.
5. Check for References
An applicant’s personal and professional references should always be checked so that the rental property manager can learn more about the type of person he or she is. This includes calling current and past employers as well as friends and family members. If a prospective tenant is unable to provide references, it could be a sign of problems to come down the road.
As our rental property managers have experienced and continue to experience, thoroughly screening applicants in advance increases our chances of renting to the best tenants around. Contact us today for more information or to speak with one of our investment property managers in Cary.
