If you've decided to invest in a rental property in San Jose, you've made a smart decision. It's a recovering market, and the demand for tenants is likely to increase.
However, this also means there's a lot of competition. Finding the best tenants will be a major challenge. With so many residential properties available, tenants will take time to pick the best option.
So what can you do to attract quality tenants? You can hire a leasing-only service to assist you. Read on to learn how to choose a leasing agent
Tenant Screening
Many landlords are accidental landlords with little to no experience dealing with tenants. As a result, they may not know whether a potential tenant is a good fit.
Potential tenants may make a great first impression and have no problem paying the deposit immediately. However, you can't always guarantee that they'll be responsible.
They may not pay their rent on time. They may also cause damage to the property or use it for something other than living. Going through the stress of having to resolve legal disputes is something you'll want to avoid.
Ask your leasing agent how they screen tenants. Ask them how they'll filter out potentially troublesome tenants.
What Is Their Closing Rate?
The next consideration for your leasing agent is to ask about their closing rate. For example, if they have 100 properties, how many of these will be occupied via their efforts?
You should also ask them about how quickly they'll close a deal. You want to choose a leasing agent who can close a deal within a few weeks. If it takes you three months to find a tenant, for example, it should take them half the time.
How Will They Promote Your Property?
One of the most challenging aspects of attracting tenants is property marketing. A leasing agent can help you with this or take over the responsibility.
You want to ask them what marketing strategies they'll use to promote your property. The best leasing agent will employ a variety of marketing methods.
They should start by advertising your property on several listing platforms. Likewise, they should also promote your property on various social media platforms.
The best leasing agents will also have a contact book of potential tenants. They'll get in touch with these tenants to check if they'd like to live in your property.
Leasing agents will understand what type of tenants wish to live in your property. They'll contact those specific tenants to show them your property.
Choose a Leasing-Only Service
Now you know how to choose a leasing-only service to find tenants for your San Jose property.
Your first step is to ask about their tenant screening process. Ask how they'll find the ideal tenants for your property.
You must also inquire about their closing rate and how fast they can find tenants. Make sure you ask about their property marketing strategies as well.
Of course, the work doesn't stop once your tenant moves in! You'll have several other tasks to stay on top of.
Provident Property Management has consistently positive testimonials among San Jose landlords. Contact us today!
