According to research, about 43% of residential properties in Jacksonville, FL, are renter-occupied. This shows there's a thriving rental market for residential property, so no wonder you've already made an investment.
However, for your investment to be successful, you need good tenants. Yet, finding such tenants is one of the biggest challenges of being a landlord. Luckily, a tenant placement service can come to your rescue.
Of course, using a tenant placement service will cost you money, so you want to ensure it's worth it. In this article, we're telling you the importance of using the service.
1. Keep Your Property Occupied
Your mission as a landlord is to ensure your rental always has a tenant. That's how you'll keep your rental income steady.
Unfortunately, it's hardly possible to keep a rental occupied all the time. Tenants will leave, and sometimes it will take longer than a month to replace them. It will especially take longer if you're a DIY landlord.
With a tenant placement service, replacing tenants won't take long. These companies know how to find tenants quickly.
In fact, some have prospective tenants on file. When a vacant unit is available, they only need to get in touch with the renter and bring them in.
2. Find Great Tenants
You need tenants, but not just any tenants.
It's not profitable to have a property with tenants who are delinquent on rent or who cause extensive damage to the property.
Finding great tenants isn't easy, but a tenant placement service makes it easier. The service will deploy various tenant screening methods to check a prospective renter's credit history, employment record, rental history, and criminal background.
With thorough screening, there's a high chance that every renter the placement service will send to your rental will be a great tenant.
3. Avoid Landlord Liability Issues
Landlords face various liability issues, especially during the process of finding new tenants. You have the right to select who to put in your property as a tenant, but you should not discriminate against prospective renters because of their race, religion, gender, or sex. The Fair Housing Act makes discrimination illegal, and a tenant can sue you if they believe you discriminated against them.
Outsourcing tenant acquisition to a tenant placement service is an ideal way to evade this liability. The company has a good grasp of the law, so it's unlikely that they will do something that exposes you or them to a discrimination lawsuit in the first place.
Tenant Placement Done Well
Using tenant placement services is a smart move for DIY landlords. You'll find the best tenants, record high occupancy rates, and avoid many liability risks.
But what if we told you there's a smarter move? Yes, you can hire a full-service property management company! This team will take care of everything from property marketing to tenant screening and property maintenance.
If you're ready to make the smarter move, come to Roundtable Property Management. Our company runs on a "People Before Property" mindset and we're committed to giving the best services to both landlords and tenants.
We're only a call away!
