Rental property can have very stable, respectful and reliable tenants. Salt Lake City, UTYes, that’s right! It all depends on product, location and good tenant screening. If you don’t have all three, your vacancy rate will be elevated. Let’s discuss product first. We advise our students that they furnish their properties with clean functional items, new linens and art work on the walls. What you are creating is an environment that is very agreeable to the tenant, one that not only the renter will look forward to coming home to, but also one, through pictures on flyers, web sites and word of mouth, will attract new inquires. We are all for building and keeping a pipeline.
Many furnished rooms for rent are not clean and contain old, thread bear chairs, sofas, and soiled mattresses. Would you want to stay any longer than you had to in a place that does not support a healthy sense of self-esteem? Nicely furnished rooms generate good paying tenants, who stay for long periods.
Our favored tenant populations generally do not have their own transportation so proximity to public transportation is necessity.
Key to this equation within our program is good tenant screening, which strangely enough doesn’t include credit or traditional background checks. Our tenants are referred to us, so we gain knowledge about them and their history though direct questioning of people who are familiar with each possible tenant individually. We learn of personal background information and work experience. This type of screening done methodically will produce good paying tenants who stay for long periods creating a stable house.
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