November 17, 2009

For Rent!

Posted to Justin Stevenson, Ogden, Residents (Renters)

Renting a property may sound easy to some people but to others it is one of the hardest things they ever have to do. Also many people are scared to rent out their home because of all the horror stories that are out there. I am not saying that horror stories don’t exist in renting out your home, but if the property is managed right many of the headaches that owners of rental properties normally have can be handled. In the current real estate conditions, many people are turning to property management companies to help them with their investment. The key to successful property management is a good system for every procedure along with a good support team. Many times investors who have rental properties lack the ability to enforce the contract that the tenants sign. As a Property Manager there is a fine line between a friendly relationship and business relationship and it is very important to always have control of the business aspect in the rental property.

One important step when it comes to renting out a property is making sure that the prospective residents are qualified for the property. As a member of the Good Landlord program here in Ogden city, one of the requirements for a landlord is to run a background on every client that would like to rent the property that is over the age of 18. The screening process can really make or break the future of that rental property. There are a few things that we check to make sure that we are renting to good qualified residents. The first thing we check is their credit to make sure there are not any outstanding collections or bankruptcies. The next thing we look for is to make sure that the client does not have any criminal background. One other thing we check is their rental references from a past landlord. Finally, one of the last things we check is the client’s income and their current place of employment. Now, each property management company and landlord has different expectations or qualifications for the clients that would like to rent their properties. It is just a matter of setting the standard and sticking to that standard for every client.

I enjoy being in the business of property management and I love helping people with their investment properties. I take pride in the skills and training I have developed over the years that I have been doing this and I am grateful for the experiences I have had. If any of you have any questions about property management please contact me by email at justin@welchrandall.com.

Posted By: Justin Stevenson