Finding suitable tenants is an important step in the success of any rental property investment. Without them, the property will not generate the cash flow needed to meet your ROI needs. However, finding suitable tenants can be a complex process. Strategy Properties has learned how to properly screen for the right tenant, to avoid surprises down the line.
When a Strategy Properties home begins to enter the final stages of renovation, we begin to utilize our marketing routes to promote the house. By utilizing multiple advertising channels, our team is able to be highly-selective in selecting tenants—thus finding you the best quality tenant for your property. Each prospective tenant completes a thorough background check and provides references before being offered a leasing option. We ensure the prospective tenant has a good background that meets our criteria.
Tenants are offered two leasing options, both of which are designed to create long-lasting tenant/landlord relationships, thus increasing the profitability of the property. The first option is a 13-month lease with the secondary option being a 24-month lease. They are required to bring one month’s rent and a security deposit equal to one and a half months rent before being allowed to sign the lease. In addition, prior to receiving keys, they are required to show proof of utilities being transferred into their name by providing verifiable confirmation numbers.