Attracting high-quality Indianapolis tenants starts with good marketing, the right rental price, and an appealing home. Retaining those tenants is just as important, and it requires a responsive rental experience, a good tenant relationship, and all the conveniences and amenities that good tenants are looking for in a rental home.
Placing a well-qualified tenant quickly and retaining that tenant is important for your investment success. You’ll lose less money on vacancy and turnover. When you’re renting out a home in Indianapolis, here’s what you need to focus on when finding and keeping tenants.
Attracting High-Quality Indianapolis Tenants: Marketing
A high-quality tenant will have a positive impact on your rental experience. To attract and place the best possible tenants, pay attention to your marketing strategy.
Effective marketing includes:
Professional-level photos
Concise descriptions
A syndicated listing that reaches the maximum number of potential tenants.
Answer your phone, respond to messages, and be proactive when it comes to scheduling showings. Follow up with prospective tenants after they’ve seen the home. Find out what they liked and didn’t like. This feedback will help you determine whether you need to adjust your price or tweak your advertising.
Placing Good Tenants with Good Tenant Screening
Your screening process must comply with all state, federal, and local fair housing laws. It has to be consistent.
To find great tenants, establish your rental criteria and provide it to prospective applicants when they see your property. While screening, we recommend you look at:
Credit to be sure there aren’t any outstanding debts owed to former landlords or apartment buildings.
Positive rental history (talk to landlord references).
Income. Verify what’s earned and make sure it’s enough to cover the rent.
Get the rental experience off to a positive start once you identify and place your tenants. This will contribute to the next part of your tenant plan: retention.
Retaining Indianapolis Tenants
When you retain your Indianapolis tenants, you avoid expensive vacancies and turnover costs.
Responsive maintenance, good communication, and an easy rental experience will help you keep your best residents.
Maintain your Indianapolis Rental Property.
Maintaining your investment leads to higher tenant retention. It’s also better for the condition and value of your asset. For tenant retention purposes, focus on preventative maintenance and respond right away when your tenant makes a request, even if it’s minor. You want to know when something is wrong at the property.
Develop a Positive Tenant Relationship.
Develop a good relationship with your tenant. Create a respectful and professional relationship that is supportive and resourceful. Be responsive and available when your tenants need to reach you.
Provide Great Technology and Conveniences.
Offer technology and other conveniences that might benefit your tenants. Online rental payments are a big deal for tenants. They want a system for reporting maintenance online.
Keep your rental increase reasonable at renewal time as well. You’ll likely charge more in rent when the lease is renewed, but give good tenants a reason not to leave. Be competitive.
Good tenants are valuable for your investment. You’ll have recurring income, a maintenance partner, and a stress-free experience. Focus on attracting the best Indianapolis tenants and then retaining them. We can help. Contact us at Red Door Property Management.
