A landlord needs to find a quality tenant to live and take care of their rental home. Ideally, if you’re a landlord, then you want someone who will keep your rental in great shape and plans on staying for a while. Finding the right tenant isn’t always easy; in fact, it can be quite a process! However, there are a few practices that can help you attract a great tenant.
Describe Your Ideal
Establishing what kind of tenant you want beforehand allows you to help target that market better when you’re posting your listing. Some things that you may want to look out for is if they have stable employment, they’re willing to adhere to rental agreements, and they are timely and respectful. Also, for your benefit, it’d be helpful to screen tenants to make sure that they don’t have any previous history of eviction.
When tenants are looking for a place to live, additional features often impact their decision to rent with you. Establish what your best features are and advertise them effectively. Try thinking about it this way, if you were looking for a place to rent, what would attract you? If your unit includes on-site parking or in-unit laundry, then list it. If there is anything else that is noteworthy and will set you apart from your competitors, list them too! Once you figure out your best features, you can create a hook in your listing that will pique the interest of potential tenants, while being informative.
Your photos are an essential part of your advertisement because people are now able to picture themselves living in that space. People enjoy visual cues, so if they don’t like what they see, or if there is nothing to see, they’ll move onto the next property. When you’re capturing your place, try using a nice-quality camera and shoot using natural lighting. These photos will help show off your home, and they will allow you to focus on your best features. Remember, the more pictures, the better!
If you’re looking for
top-quality property management services in the Indianapolis area, AMG Property
Management can help! Our experienced team of rental property
managers and leasing agents will work closely to organize and care for your
rental properties and tenants so you can spend more time on what matters! Give
us a call at 317-252-5830 to learn about the
services we offer!
One day you may have to start thinking about moving into a new space again. There are plenty of reasons to consider moving, but you’ll know when the right time is. Here are some of the top reasons renters decide to move, and if any of them sound familiar to you, it may be time to start planning your next move!
You’ve Outgrown your Current Space
As you continue to grow, it’s not uncommon for you to outgrow your space. A lot can happen in a year. Maybe you’re getting married, planning for children, or maybe your tastes have changed! You need to find a space that fits your needs best. Plus, a larger area can create more storage space, add more bedrooms, and create a larger layout!
Your Financial Situation has Changed
Maybe you can no longer afford your rent due to unexpected circumstances. If this is the case, you can opt for finding a smaller and more affordable space. Also, if you need to, you can find a place that allows you to add a roommate. Regardless, it sounds like it may be time to find a more affordable option that will meet your needs.
On the contrary, maybe you just received a raise in your annual income, and you want to upgrade your space. You may consider upgrading to a larger place or focus on finding a spot with the amenities that you desire, such as a place with parking or a laundry unit!
You Want to Move in a New Neighborhood
Maybe you are currently living in the city and want to switch to a family-oriented neighborhood. Or perhaps you want to move closer to the places that you spend most of your free time at. Moving into a safe community that you feel welcomed in is essential!
You Desire a Better Commute
After a long day of work, having a long commute home can be draining. Plus, if your employment is far away from your house, it can be tricky predicting the traffic conditions each day. If you see yourself staying at your current job for a long time, it may be worth finding a new home closure to work.
If you’re ready to make that move, AMG Property Management can help you find your next spot! Use our online search tool to get started and contact us if you have any questions!
Finding quality tenants is a must for landlords, but if you’ve just recently started renting property you might not know where to start. Today we’ll offer a few helpful tenant screening tips for new landlords:
Ask for ID
All prospective tenants should provide a valid photo ID, which you can photocopy and attach to the tenant’s application. To further verify identity, consider looking up the tenant’s license plate.
Call Two Landlords
Previous landlords can tell you if a prospective tenant has a history of skipping rent or damaging property. However, if you only call the tenant’s most recent landlord, she might give a glowing review just to get rid of her most problematic tenant! Calling two landlords will typically give you a more nuanced picture.
Check out Social Media
If you can, find the applicant’s Facebook, Instagram or LinkedIn profiles to verify that the employment information they provided checks out, and that they don’t belong to any hate groups or gangs.
Hire a Property Management Company to Screen Tenants for You
There’s no doubt about it—tenant screening can be time-consuming. That’s why many landlords turn to property management companies when it comes time to find new tenants. Not only can it save you time, but the company will also ensure that you’re adhering to the Fair Housing Act (FHA), which prohibits discrimination on the basis of race, religion and other factors.
Looking for top-quality property management services in the Indianapolis area? At AMG Property Management, our experienced team of rental property managers and leasing agents can work with you to help you get the most out of your rental property. To get started, feel free to give us a call or contact us online today!
If you’re considering a no-pets policy because you think pets mean noise and mess, think again. Here are a few compelling reasons to offer a pet-friendly rental policy:
Pet-Friendly Properties Attract More Tenants
Around 65 percent of people own a pet, so offering a pet-friendly rental policy can significantly expand your pool of prospective tenants.
Pet Owners Tend to be Responsible
Caring for an animal is a significant responsibility. If your tenants are responsible enough to take good care of their animal companions, they’re more likely to be responsible renters as well—e.g., pay rent on time, care for the unit and give adequate notice if they’re moving out.
Tenants With Pets Are More Likely to Renew
Since pet-friendly rental units can be scarce, pet-owning tenants will be more likely to stay at your property if you offer a pet-friendly rental policy.
Landlords Can Charge More
It’s standard to charge a pet deposit to cover any damage that the pet might cause to your property. Many landlords also charge a small amount of “pet rent” every month. Just check your local laws to determine whether you can charge monthly pet fees, and if so, how much.
Looking for a reliable, trustworthy property management service in the Indianapolis area? At AMG Property Management, our experienced rental property managers and leasing agents can work with you to help you get the best possible return on your investment. To learn more, feel free to give us a call at (317) 252-5830 today!
If you’re a landlord, you may be wondering which amenities matter, and which aren’t worth the trouble. Here’s our guide to the amenities tenants really want:
Whether it’s a fenced-in yard, a balcony or a patio, tenants love outdoor spaces where they can enjoy the warmer months. Most are willing to pay more for this sought-after amenity.
Around 65 percent of people own a pet, most of which are dogs and cats. Having a flexible pet policy is a great way to attract tenants.
Every tenant wants to feel safe and secure in their home. At minimum, exterior locks should always be changed between tenants. Consider installing a security system as well.
A rental that’s free of frustrating maintenance issues is important to potential tenants, as well as timely responses to requests for repair.
In-Unit Washers and Dryers
Prospective renters will be glad they can skip their weekly trip to the laundromat when you provide washers and dryers in their units.
Skip the dingy plastic mini-blinds and attract good tenants with attractive window coverings. Fresh curtains can make any rental look a little more put together.
Off-street parking is an amenity that tends to attract tenants, particularly in urban areas where congestion and street can cleaning make it tough to find a curb spot.
Looking for efficient, cost-effective property management services in the Indianapolis area? At AMG Property Management, our talented team of property managers and leasing agents can work with you to help maintain your property and find great tenants. Just give us a call at (317) 252-5830 to get started today!
The rental market has seen a large increase in the last few years. Because many millennials are opting to rent before purchasing their first home, now is a great time to become a property owner. There are many characteristics that a great landlord must have, and it’s important to have a complete understanding of your responsibilities before investing in a rental property. Here’s what you need to know:
Know the Law
Learn the specific landlord-tenant laws according to your state. You can find details on landlord-tenant laws in Indiana here. By knowing the law, you can protect yourself and ensure that you are engaging in established best practices when renting your property
Find the Right Property
When purchasing a rental property, you want to make sure that you choose the right property for you. It may be easy to buy a cheaper home and fix it up, but be careful that you don’t take on a property that becomes more work than you can handle. Adkin Management Group can help you find the right property in Indiana.
Establish a Reasonable Rent Price
When establishing a rent price, you need to consider the rent of other homes in the area, as well as the condition of your property. Investing in new appliances and amenities, for example, may allow you to charge more for rent without discouraging prospective tenants.
Find the Right Tenant
You’ve got the perfect property and are all set to go. Now you just need a tenant! When searching for the right tenant, it’s important to perform a proper screening to be sure you can trust them. By doing a background check and checking their credit and employment history, you can establish the responsibility of your tenant.
Check Your Property Often
By inspecting your property regularly, you will be able to stay on top of any issues that may arise along the way. Your tenant will appreciate you for maintaining the upkeep on their rental.
Being a property owner can be challenging, but if you are consistent and patient it can become a very rewarding source of income. If you think you have what it takes to become a landlord, now is a great time to break into this lucrative market. Contact AMG Property Management for professional property management assistance today!
More than a quarter off all Indiana residents rent their homes, according to Democratic State Senator Eddie Melton. Last month, Melton filed a new piece of proposed legislation that’s designed to protect Indiana’s renters by giving them more legal leverage in disputes with landlords.
If approved, Senate Bill 524 would make a few notable changes to Indiana’s landlord-tenant law.
Under the terms of the proposed legislation, tenants would have 14 days—up from the current limit of 10 days—to pay past-due rent before a landlord could terminate their lease. Furthermore, landlords would be required to give renters at least 14 days’ notice in writing and an opportunity to correct lease violations before initiating eviction proceedings.
Landlords would also be required to give renters 48 hours’ notice before entering their rental units, and at least 60 days’ written notice before raising rent or making other changes to a rental agreement. Currently, landlords must only give 30 days’ notice before modifying a rental agreement.
If Senate Bill 524 is approved, tenants would also be legally allowed to withhold rent in the event that landlords fail to repair and maintain “essential services” that are required to keep the property safe and habitable. Finally, the bill would establish an Indiana Eviction and Prevention program designed to reduce the number of evictions statewide.
It’s currently unclear how much support the bill among other state lawmakers, and it’s still in the early stages of review by the Senate Committee on Commerce and Technology. You can view the complete list of proposed changes in Senate Bill 524 here.
Thanks to the city’s relatively modest rental rates and plentiful housing inventory, Forbes named Indianapolis the best city in the nation for renters in 2017. Now, as we near the end of 2018, a recent report from Indianapolis-based brokerage firm Tikijian Associates is shedding new light on the ways in which our city’s rental market has changed over the course of the past year.
While renters still have plenty of attractive options to choose from, a surge in multifamily development has set rental rates on an upward trajectory in many neighborhoods across Indianapolis.
Although the average monthly rental rate in Indianapolis sits at around $850, one-bedroom apartments downtown often cost upwards of $1,000 a month, according to the Indianapolis Business Journal. The market analysis from Tikijian Associates attributes this trend both to the recent increase in multifamily housing developments, as well as a tendency for property owners in desirable neighborhoods to make “high end” upgrades to existing properties.
“Between the rental market and sales and investment market, things are going very well,” said Senior Managing Director George Tikijian in a statement. “We’re pretty long into an economic recovery and have a low-interest-rate environment. Couple that with the tremendous demands across the board and what we’re seeing from rent growth … The market is strong.”
At AMG Property Management, we strive to help the property owners in our area make the most of their investments by filling vacancies, conducting maintenance tasks, offering advertising services and more. To speak with a representative about all the property management services we offer, feel free to give us a call or contact us online today!
Looking for ways to attract new tenants to your investment property? The home’s exterior is the first thing prospective tenants will notice, so this is typically a good place to start. Although some renovations like roof replacements and house painting can be quite expensive, there are other more affordable changes you can make that will significantly improve your property’s curb appeal. Check out a few of our favorite ideas below!
Pressure Wash the Exterior
Using a pressure washer to clean your property’s siding, shutters and walkways offers an easy to brighten it’s exterior and remove stuck-on grit and grime. If you don’t own your own pressure washer, you can typically rent one from your local hardware store. Just be sure to carefully regulate the PSI so that you don’t inadvertently remove paint or damage sensitive surfaces.
Paint the Front Door
As the main entrance to a home, the front door should serve as an attractive focal point that feels warm and inviting. If you can’t afford to repaint the entire property, you can start by updating the front door with a fresh coat of paint. Consider using a bold accent color that complements the color of the home’s siding.
Replace the Mailbox
An old, dented mailbox can distract from what might otherwise by an attractive property. New mailboxes start at around $20, so there’s simply no reason to let that old mailbox keep dragging down your home’s curb appeal anymore.
Update the Landscaping
There’s no better way to breathe new life into a home than by adding some new planters and flowerbeds. Try to select low-maintenance species that won’t require a great deal of work to keep up with after you put them in the ground.
At AMG Property Management, we can work with you to maintain your property so that it’s always looking its very best. To learn more, give us a call or contact us online today!
The U.S. housing market has largely favored sellers for the past several years, but that trend could be about to shift according to a recent report from online real estate marketplace Zillow. Home value growth is finally beginning to slow in some of the nation’s hottest housing markets, and the share of home listings that have taken a price cut has increased significantly over the course of the past year.
Nationwide, Zillow found that about 14 percent of all listings had a price cut in June of this year, up about three percent from a low of 11.7 percent at the end of 2016. In some markets such as San Diego, however, the share of listings with price cuts rose by as much as eight percent in a single year. These price cuts have primarily affected listings in higher-priced markets thus far, while listings in some more affordable markets such as San Antonio have actually experienced a reduction in price cuts. Meanwhile, close to half of the nation’s 35 largest metro areas—including Indianapolis—have experienced a slowdown in home value growth since the beginning of the year.
“The housing market has tilted sharply in favor of sellers over the past two years, but there are very early preliminary signs that the winds may be starting to shift ever-so-slightly,” said Zillow senior economist Aaron Terrazas in the report. “It’s far too soon to call this a buyer’s market, home values are still expected to appreciate at double their historic rate over the next 12 months, but the frenetic pace of the housing market over the past few years is starting to return toward a more normal trend.”
For property investors in Indianapolis, this shift in the housing market could offer exciting opportunities to expand their portfolios with new rental properties. It might not be time to buy just yet, but it’s certainly a great time to keep a close eye on our region’s housing market. To learn more about how our property management services can help you make the most of your investments, feel free to give us a call or contact us online today!