Let’s say you are thinking about renting out your property yourself. Sounds simple enough, right?
It can be, if you follow some guidelines…
Finding the right tenant takes a lot of extra work and time, not to mention the cost it takes for background checks and paperwork. Here, at Real Property Management Wasatch, we work hard on a daily basis to bring in prospective tenants as quickly as we can. In fact, we have made it our top priority.
First of all, we do our homework to gather all the information we can about the rental property in order to place the perfect, tantalizing ad. This includes, heating and cooling features, the year it was built, the square footage, all appliances it comes with, any storage space and types of parking (garage, carport or street parking). We add up the number of bedrooms and bathrooms, and any extra rooms such as offices or breakfast nooks. We also do our research to find out about any extra features that would entice folks, such as walk-in closets, fenced yards, covered patios, handicap ramps, and even doggy doors for their four-legged friends. Then we drive to the rental property and take attractive photos, covering the property from the inside/out.
Next, comes the job of marketing and making sure the home is ready to lease. It’s important to get ads out to as many people as possible. We also place a sign out in front of the property to attract passersby. Our staff places ads in at least a half a dozen popular internet sites. Once this has been done, we check these sites daily to update them if possible or to make sure they are being viewed clearly. Our office workers also make ourselves available to anyone who contacts us with questions about the property, even suggesting other properties that we think will suit their needs. We strive to be available to show it to prospective tenants at their earliest convenience.
Once we receive an application, our office goes to work getting to know the prospective tenants. Verification begins on such items as the applicant’s employment, his or her current residence, and contacting any references given. We also start background checks: covering credit, criminal backgrounds, evictions and bankruptcies. Once the history is established, the paperwork and documents are quickly handed over to our property managers. They must decide whether or not the applicant is to be approved or denied, thinking of the best interests of the owners.
Finally, our experienced leasing agents are able to draw up leasing agreements in no time. They can walk renters and owners through agreements in a non-stressful manner so that both parties will walk away happy. Knowledge of Utah rental laws is a must when dealing with prospective tenants. Renting your property is a timely endeavor. However, when done right, it seems like it can be done in no time at all. We hope this procedure helps the next time you decide to rent out your property. Please contact us if you have any questions concerning renting out your property.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
