What is your biggest fear as a landlord? For me, it was having a vacant rental.
The fear began with, am I asking the right amount for rent?
Was I asking too much? If so, I might never find a renter. Was I asking too little? If so, I might get a tenant that doesn’t respect the property.
Next came, how do I find a good tenant? Do I hire someone to do it for me?
In my experience, hiring out was a drain on funds and time. The one time I hired someone to lease my property for me, it was vacant for 6 weeks. Never did that happen when I leased it on my own.
Do you know why?
I care more than a stranger. In the end, a leasing company will eventually find you a tenant and get paid the same amount whether they found the tenant immediately or 6 weeks later. On top of that, it is in their best interests to find a short term tenant. I wanted a tenant who is responsible and will stay multiple years. Leasing companies get paid more with more tenant turnover, so they seek out tenants who aren’t likely to stay.
My final fear is, did I pick a good tenant?
You hear horror stories about squatters and tenants that trash your unit. Those stories are real, but completely preventable. If you have a solid application criteria and make it clear, you will get great tenants. In one property, I have always had a strong applicant criteria that I followed, and as a result, I have always had amazing tenants. In another unit, I was more lax on my criteria, and guess what? I had my own horror story (lesson learned). By having a criteria for applicants and not wavering, you will get amazing tenants that respect you and your property.
I cared to find a tenant now. A tenant who will stay. A tenant who will respect my property, me, and themselves. That is why I only lease myself.
In this course, Property Marketing: Simplified, you will learn:
Are you ready to find amazing tenants?
Sarah has been in marketing for over ten years and became an accidental landlord in 2011. From there, she stumbled through developing a marketing plan, application process, tenant onboarding strategy, and property management process that developed into a streamlined system that she shares with her followers today.
Sarah has her BA from DePaul University in Public Communication, MS from National Louis University in Written Communication, and a Graduate Certificate in Management of eLearning for Workplace Learning and Training from the University of Illinois - Champaign-Urbana.
While she's done a lot of dumb things in her life, hiring a property manager was at the top of the list. That experience is where this program was born. Basically, ReadyRent is Spiderman and hiring a property manager was the radioactive spider.