Tips for First Time Landlords

If you have recently purchased a property and have made the decision to rent it out to tenants, there are several things you can do to ensure a seamless rental process.

Being a first-time landlord can come with a lot of stress and may feel overwhelming at times, so it’s important to have a plan in place.

Whether you make improvements to your property to get several quality offers, screen potential tenants to see if they’re the right fit or you make the decision to hire a property manager, you’ll be setting yourself up for a successful and stress-free rental process.

Rental Property

Make improvements to increase interest in your property

When looking to get high interest in your rental property there are several renovations you can make, and amenities you can add, that will be enticing for perspective renters.

Common renovations include a new paint job to rooms and hallways, adding new flooring and windows and more. We also suggest updating bathrooms, kitchens and other spaces to give them a more modern feel.

You can add popular amenities that include outdoor lounging areas, a washer and dryer, convenient parking and more to stand out from other properties.

Screen potential tenants

A great way to make sure you’re getting an ideal tenant is by screening them before making a final decision. Do a thorough review of the application and don’t be afraid to ask difficult questions such as eviction history, proof of rent payment history, proof of current employment and more. You can even call previous landlords to see how the tenant treated their property.

Hire a property manager

If you’re going through the process of looking for a quality tenant and need some assistance, or already have one and need help with day-to-day landlord duties, we suggest hiring a property manager.

A property manager assists with everything from the screening of potential tenants to advertising, maintenance of your property, easy-to-use rent paying platforms, the installation of security systems and more.

If you believe that hiring a property manager is the right move for the success of your rental property in Indianapolis, IN, we ask that you call our experienced team at AMG Property Management.

A family-owned business, we have over 25 years of industry experience and know how to attract and keep responsible tenants. To learn more about all the ways we can assist at your property, give us a call today at (317) 252-5830.

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