Tips for Finding Great Tenants
The lifeblood of any rental property is the tenants you place in the property itself. Whether you have bought an established property with tenants in place or you’re looking to find new tenants, there are a few things to keep in mind as a Chicago property owner. You not only want tenants that pay the rent, you want tenants you can trust to take care of the condominium like you would. You want tenants that will take pride in the home and help to make sure that other tenants want to stay around as well.
It can be a very daunting task to find high-quality tenants on your own. However, when you work with a talented and experienced property management company in Chicago, that task can be very simple. A Chicago property manager can assist you with the ins and outs of finding tenants that will not only care for your property, they will be quality tenants that you’ll want to keep around for years to come.
Here’s a look at how your condominium property manager in Chicago can assist you in finding solid tenants for your vacancies.
Management Company Does the Legwork
One of the hardest things in having a rental property is getting the right tenant in your home. Sure, you could find a variety of people who would love to rent your condominium. However, that doesn’t mean they are the right tenant for your property. You want to be sure they will be the perfect fit for your vacancies. That is where the Chicago rental property management team comes in. They can do the legwork of advertising the vacancy and getting the word out that there’s a rental unit available. The longer a unit is empty, the more money you’re losing as the property owner.
Tenant Screening a Must
You must have the property tenant screening in place. This means background checks, criminal checks if possible, and credit screening as well. You want to know who you’re placing in the property. There are very fine lines when it comes to disqualifying someone because of a background check so it’s important to have all your ducks in a row when it comes to this process. An experienced property manager will know exactly what the law says and what you can and cannot do when it comes to tenant screening and denying a potential tenant.
Deposits Taken Care Of
The rental manager can take care of any and all deposits you may require before the tenant is moved in. They will handle all the notifications to the potential tenant, the deadlines that the money must be turned in, and handle all of the necessary receipts as well.
Paperwork Made Simple
When you work with a Chicago rental management company, they can take care of all the paperwork for you. All you have to do is show up to sign. Sometimes they can even bring the paperwork to you so that you do not have to go anywhere. The necessary paperwork includes the rental agreement and lease papers that you must have signed before the tenant moves in. They must all be done in the correct legal way so that you’re covered as the property owner, and the tenant is covered should anything arise. You want everything done by the books so that there’s no way an issue can arise later down the road.
If you’re looking to put new tenants in your property, then contact an experienced property management company in Chicago such as Connected Management. They can assist you with finding the perfect tenants to reduce the loss of money and increase your profit.