A recent article offered several tips to take into consideration for those who are considering investing in a rental property, becoming a landlord, or are on the opposite end of the spectrum and are planning on applying for an apartment as a tenant.
Headache Free Real Estate has had more than its fair share of experience with property management in and throughout the towns surrounding Marlborough, MA, even offering full management services to properties that we do not have any ownership of. We felt that these tips were not only helpful to those who may become future renters, but they are the key to creating a solid foundation in a landlord/tenant relationship.
So, what are some of these suggestions?
1) “Put Your Mouth Where Your Money Is”- When on the search for an apartment, it is important to remember that it can be very competitive and there is often a large pool of candidates that the property’s landlord must choose from. Providing financial papers upfront when you first meet the landlord and view an apartment of interest shows that you are both prepared and invested in this place. These papers also allow the landlord to check your credit score and information more quickly since everything is readily available. Having a good credit score is also a huge plus, as it ensures that you are financially stable and will be reliable when it is time to collect rent each month.
2) “Bigger is Better”- The longer the time-span of the lease, the more money there is coming into the landlord. If you are a tenant that knows you will end up staying at an apartment beyond 12 months, letting the landlord know ahead of time can give you priority as a renter. At the end of the day, a landlord strives to fill vacancies with reliable tenants as well as reduce the overall turnover. The longer the lease, the better it can be for both the landlord and the tenant.
3) “Respect the Territory”- This may seem like an obvious statement, but it is something that tenants sometimes forget. A landlord’s choice for their property’s tenants can be challenging, but showing that you are a respectful and responsible person throughout your stay (as well as upon first impression) is of the utmost importance. Basic things such as paying your rent on time, keeping volume levels reasonable, respecting your neighbors and their space and repairing anything that you damage or break will all lead to a good rental history as well as a potential reference from your landlord should you want one in the future. The less problems you cause, the better the relationship overall and the happier the property will be as a whole.
Property Management certainly is not a field that is right for everyone, but it is always good to know what a landlord should look for in a tenant and how a potential tenant should approach the rental process. Our management of properties and its tenants has a proven record of success and satisfaction by those who invest with us, and we excel in keeping tenant turnover rates as low as possible.