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When inviting new tenants into your rental property, the last thing you want are surprises. Knowing who you’re renting to, their rental background, and their ability to pay rent on time is essential, which is why requesting a tenant screening report is effort well spent.
Not all tenant screening services are created equal, though. The Fair Credit Reporting Act (FCRA) allows tenants to sue landlords if their applications are rejected due to inaccurate or illegally reported information, so it’s best to invest in a service that you trust to source information appropriately.
These are the best tenant screening services for landlords in 2023 and what each offers so you can make sure you’re getting the accurate information you want.
What Are the Best Tenant Screening Services for Landlords?
While many tenant screening services on this list provide similar basic screening reports, some offer more flexibility in cost, helpful tools, and added security than others. Here’s a breakdown of the 11 best tenant screening services for landlords:
1. Avail
If you want to keep track of all pieces of the property management puzzle, consider starting with Avail. For a one-time fee, you can request individual or bundled tenant screening reports such as a TransUnion credit report, background check, and eviction report.
The TransUnion credit report includes an applicant’s credit score, open tradelines, overdue debts, hard inquiries, and any amounts in collections (if any). The background check includes information from all U.S. territories, the OFAC Terrorist Watch List, the Most Wanted List, Sex Offenders Lists, and criminal history from all 50 states. The eviction report will provide information on any previous eviction, from when it occurred to judgment information. Depending on your preference, you or the applicant can cover the application fee.
Avail can also be used as a turn-key solution for the rental management process — including listing your property, drafting lawyer-reviewed and state-specific leases, collecting rent, tracking rental property accounting, and more.
More than other services on the list, Avail is designed to make finding quality tenants that meet your screening criteria easier. In addition to screening reports, you can request a rental application from a prospective tenant to get their rental history, job history, and income verification for free.
Our system automatically conducts landlord reference checks once an applicant has provided their previous landlord’s contact information, making it easier to see what other landlords have to say about their renting habits. An applicant’s personal information, such as social security numbers, is secured on the platform, so you don’t have to worry about being the keeper of sensitive information.
2. RentPrep
Like many services on this list, RentPrep offers a basic screening report package and a more robust version. Each package also has the option to add extra reports a la carte style, including income verification.
With the basic package, you get a rental background check that includes identity verification, an evictions and bankruptcies report, a credit score range for an applicant, and information on any judgments or liens against the applicant for $21. You can add on a Nationwide Criminal and Sex Offender Search for $6, a credit decision report for $11, and income verification for $10.
For the SmartMove Full Credit Report package, you can request a credit report, a ResidentScore based on their previous renting behavior, and a rental background check for $38. Unlike the basic package, applicants must respond to an email to receive their results. You’ll also need to pay an additional $7 to request a Judgment and Liens report and $10 for income verification — bringing the total cost to $55.
The information is pulled from databases that RentPrep independently verifies. However, you may pay more in add-ons to ensure you get the information you need to screen applicants.
3. National Tenant Network
National Tenant Network could be a good choice if you want to be more hands-on with choosing your own slate of reports. The service is primarily a la carte, with a wide selection of reporting options, including reports not offered by other services, like Business Credit Analysis and Retail Credit Analysis.
Although one-off reports are available, a membership (a one-time payment of $35) gives you access to screening resources, tenant management tools, and a slate of screening reports (individually priced) so you can tailor your screening and management process to your needs.
4. Apartments.com (Previously Cozy)
Apartments.com Rental Manager, previously Cozy, is designed to make the full tenant management process more transparent and efficient. You can request TransUnion credit reports and background checks for $24.99 to get insights on their income-to-rent ratio, employment status, household information, and rental history.
Apartments.com does not perform landlord reference checks, meaning you’ll need to manually reach out to an applicant’s previous landlord to learn more about their experience renting.
5. MyRental
If you’re the kind of landlord who wishes you could poll an audience of your peers, MyRental might be a helpful property management software platform. The site’s screening reports focus on presenting applicant analysis, which can help take the guesswork out of evaluating leads. You can purchase the Basic package for $24.99/per applicant, the Premium package for $34.99/per applicant, or purchase reports individually for a one-time fee.
The Basic package does not include a credit report, but the MyRental premium report takes data from credit checks and background checks for your applicant and assigns them a SafeRent Score between 200 and 800. The site also shows how that applicant’s score compares to other tenants in the area and the percentage of landlords accepting applicants with similar scores.
Note that landlords submit applicant info and pay for the basic package. The premium report asks applicants to submit details themselves, and the landlord can choose who pays.
6. SmartMove (via TransUnion)
SmartMove offers the same level of detailed credit, criminal, and eviction checks as other sites on the list, but it goes a step further on the financial side with an Income Insights Report.
As a service by TransUnion, SmartMove emphasizes getting an accurate understanding of your applicant’s financial picture — including analysis to determine whether their self-reported income is accurate or if you should collect more information. Their packages range from $24.99/per applicant to $41.00/per applicant, depending on the information you request from a prospective tenant.
Like Avail, a tenant initiates SmartMove screening reports themselves, adding an extra level of security by not passing sensitive information (like their social security number) to the landlord.
7. DoorLoop
Doorloop is a property management software platform that makes it easier to manage rentals in the U.S. and globally. For $39.00/per applicant, you can request a TransUnion credit, background check, and eviction check. To fully understand the platform, you’ll most likely need to request a demo to speak with their staff.
You also can charge your tenant screening fee that the applicant covers, but it’s important to refer to local landlord-tenant laws before upcharging.
8. RentRedi
RentRedi allows you to request a TransUnion credit report, criminal report, and eviction report for $35/per applicant. The applicant will need to authorize a credit check to complete the screening process, which is pretty standard for most tenant screening services.
In addition to screening reports, you can request a pre-screening questionnaire before property showings to determine whether they meet your criteria or not.
9. RentSpree
You can request a credit report, criminal background check, and eviction check through RentSpree for $38/per applicant. Either the applicant or you as the landlord can cover the fee, depending on your preference.
Not all the reports are available for all 50 states, so check to see if your state is excluded before purchasing their tenant screening bundle.
10. TurboTenant
The TurboTenant tenant screening package includes a TransUnion credit check, criminal background check, and eviction report. Once you enter an applicant’s email to screen them, TurboTenant will automatically reach out to them to verify their identity. Once they’ve completed the verification process and authorized the requested screening reports, the results will immediately populate to your dashboard to review.
As the landlord, you don’t have to cover the tenant screening fee of $55/per application, but you can if you don’t want the applicants to pay the fee.
11. Zillow Rental Manager
With Zillow Rental Manager, you can manage your rentals and easily screen prospective tenants. You can request an applicant’s renter information, a credit check, background check, eviction history, and income verification for $29/per applicant. The information is available for 30 days to give you sufficient time to review their application.
Start Screening Tenants With Avail
Thorough tenant screening is the first and most important step in finding a tenant who will take good care of your unit. Easily request a rental application and tenant screening reports with Avail to get a comprehensive view of each applicant.
Create an account today to start the free tenant screening process.
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Making monthly rent payments online is an easy way to simplify your life. And if you choose to use a credit card for those payments, you might be able to accrue extra benefits while you’re at it.
From choosing a card with valuable rewards to boosting your credit score as you build a history of on-time payments, being strategic about your biggest monthly bill can have a positive impact on your overall financial health.
How to Pay Rent With Your Credit Card
The first step is asking your landlord if they allow renters to pay rent online. If they do, find out which platform or rent collection app they use and make sure it’s trustworthy and secure. If they don’t accept online payments, you can invite them to use the secure payment system through Avail.
With Avail, you can pay rent with a bank account, credit card, or debit card — whichever method you prefer. You can log in to make individual payments, or set up automatic payments for the same time each month using Autopay. If you and a roommate split the rent, you can each set up your own profile and payment amounts rather than having to coordinate reimbursement every time. You can also choose a day for the funds to be withdrawn, with information on when the payment will deposit in your landlord’s account so you can avoid late fees.
However, there are other options as well like PayPal and Venmo, but they often have less payment protection in place for rent-related payments.
What Are the Benefits of Paying Rent With a Credit Card?
Credit bureaus calculate your credit score using a variety of factors meant to predict the likelihood that you’ll be able to repay your debts on time and in full. The higher your credit score, the better your odds are of being approved for loans, offered lower interest rates, and looking like a prime candidate to future landlords.
To boost your FICO® score (the credit score referenced in 90% of all lending decisions), the single best thing you can do is to never miss a bill payment. When you pay your landlord by check or cash, it’s up to them to report the payment — but it’s not required that they do so. As a result, many tenants don’t get their good behavior reflected in their credit score.
Paying by credit card, however, ensures the payment is automatically reported to the credit bureaus. It also gives you the option to set up recurring payments to ensure you never miss a deadline. Using a credit card also allows you an extra level of flexibility if the rent is due a couple days before your next paycheck arrives.
Be careful here though: The benefits of using a credit card to pay rent only work out if you’re able to pay off your credit card balance promptly each month. If not, you’ll be charged interest and your credit utilization (another factor in determining your credit score) can start to work against you if your balance creeps up.
What Are the Best Credit Cards for Paying Rent?
Generally, you want to choose a card with no annual fee, a low interest rate, and the best perks for your lifestyle. If you know you have the financial stability to immediately and fully pay off your credit card balance every month, the interest rate is less of a factor, but in general it’s best to avoid high interest rate cards.
Cards that offer cash back for monthly purchases over $500, for example, could be a great choice if you know your rent payment is more than that. By making that one payment every month, you’ll earn cash back every time. Making rent payments with a credit card usually includes a small processing fee (3.5% through Avail), and while many renters find paying with a credit card to be worth it despite the fee, be sure to account for it in your budget.
Credit cards that offer travel rewards may also be a good perk. Some cards offer 50,000 airline miles if you spend at least $2,500 within the first three months of opening the card. Since rent payments are a larger, fixed cost, you’ll know before you apply for the card if you can meet the threshold for the perk.
Rewards toward “everyday spending” are another category of credit card perks that could work in your favor. The more you use these cards, the more cash-back rewards you can accumulate toward household expenses like groceries and streaming services, often with no expiration date for use.
Ultimately, the best credit card to use to pay rent is the one that yields the biggest benefits for the way you spend money.
Should I Pay Rent With a Credit Card?
If you can easily pay off the rent amount before the next billing cycle to avoid accruing interest, then paying with a credit card may be a good idea. If that’s not the case and you struggle with credit card debt, then it may make more sense to pay rent with a debit card or checking account to save on fees and avoid having to pay interest.
Most payment platforms also charge higher fees when paying with a credit card versus a debit card or checking account, which is another factor to consider.
Does Paying Rent With a Credit Card Affect Credit Score?
Paying rent with a credit card can affect your credit score if you’re unable to pay off the amount before the next billing cycle. In those instances, your credit score may change if your credit utilization increases or you’re unable to make consistent on-time payments.
If you’re looking to build your credit, you can pay rent with a debit card or checking account and report those on-time payments to TransUnion with CreditBoost.* For $3.95/per reported month, you can build your FICO 9, FICO XD, and VantageScore credit score with each on-time rent payment. You’ll need to invite your landlord to join Avail, but you can easily take advantage of CreditBoost once your landlord has set you up to pay rent online through the platform.
Pay Rent Online With Avail
The process is quick and easy on Avail and comes with the option to turn on CreditBoost to build up your credit score with timely rent payments. Create an account today to invite your landlord to join Avail and get you set up to make online rent payments.
*CreditBoost results may vary by individual.
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Using the best rental listing website can make a big difference in the time you spend showing your rental properties and finding your next tenant. But the number of property management software platforms continues to grow, so it can feel overwhelming to determine which site is best for your rental listings.
To help make things easier, we reviewed 20 of the best rental websites for advertising rental properties. Here are the basics of each offer so you can find the right site for your marketing strategy.
1. Avail
Getting eyes on your listings is where Avail (part of Realtor.com®) stands out. Avail rental listings automatically publish your listing on Zumper, Apartments.com, PadMapper, Apartment List, Doorsteps, Walk Score, Realtor.com®, and more — all with one click. You can also manage tenant leads on the platform, schedule in-person or virtual showings, and request rental applications to keep everything in one place.
Our system auto-generates a listing description for you and an eye-catching title when you answer a few simple questions about your property. Avail also offers online tenant screening, lawyer-reviewed and state-specific lease agreements, free rental property accounting tools, online rent collection, and additional features that can help you manage your rental.
2. PadMapper
Think of PadMapper as the apartment hunting equivalent of one of those super-maps on CSI where investigators can endlessly drill down on a grainy photo of a suspect by hitting “enhance.” It starts with a map dotted with listings, then lets users zoom in to focus on a smaller area, adding filters to weed out any rentals that don’t meet all the search criteria.
It’s free to add listings (through the company’s mobile app for single units or Zumper Pro for bulk uploads), and any listings that appear on PadMapper also get added to its parent site, Zumper.
3. Realtor.com®
In addition to a great market for buying and selling, Realtor.com® offers a great destination for rentals. You can easily reach thousands of tenants fast to reduce the chances of experiencing long vacancy periods.
4. Doorsteps
According to a National Association of Realtors (NAR) study, the No. 1 way home sellers chose to list their properties in 2019 was through city and state multiple listing service, or MLS, sites.
In partnership with Realtor.com®, Doorsteps uses a combination of MLS listings from 25+ markets across the U.S., plus direct listings from landlords and Aparmentlist.com to round out its inventory. The site originated in 2012 as a guide for first-time homebuyers, but has expanded to serve tenants.
5. Zillow Rental Manager
Zillow Rental Manager allows you to publish your first rental listings on Zillow, Trulia, and HotPads for free. However, each additional active listing will cost $9.99/per week it is listed. The site is known to have one of the largest audiences of renters looking to find their next home, so posting your listings here can help you get more views on your property.
Zillow also offers tools for online tenant screening, customizable lease templates for specific states, and online rent payment options.
6. Trulia
Also owned by Zillow Group, Trulia’s expansive reach is its main draw. Listings for a rental unit or home are displayed on Trulia, Zillow and HotPads, but you also have the option to list a single room, which will then appear on Trulia and HotPads only.
Listing fees are the same on Trulia as on Zillow, but the sites offer different user experiences. Where Zillow’s marquee feature is its unique home estimates tool, Trulia touts its in-depth community preview with information on school rankings, crime statistics and public transit.
7. HotPads
Where its partner companies, Zillow and Trulia split their focus between homes and apartments, HotPads is more apartment-focused, emphasizing urban markets.
Prospective tenants like it for its fraud protection (as a landlord, you’ll be prompted to verify your identity) and push notifications when new listings match their search criteria. That tool can benefit landlords too, as it encourages strong leads to get in touch quickly.
8. Apartments.com Rental Manager
According to Apartments.com (previously Cozy), 35 million prospective renters visit annually, making it a great place to post your rental listing. The company advertises more than 1.1 million listings and — like Zillow Group — amplifies every listing by including it in its inventory plus that of partner sites ForRent.com, ApartmentFinder, Apartmenthomeliving, and Apartamentos.com.
The platform allows you to schedule property showings and request applications from tenant leads within the platform. Listing is quick and free at a base level, but landlords can also upgrade to a Premium listing to get their units featured in more prominent ads at the top of the search results for 30 days.
9. Apartment List
Apartment List’s model is unique in that fees only apply if your listing is successful. Prospective renters complete a survey of their rental priorities on the site, which then serves up a shortlist of matching units. Fees start at $359 per signed lease, but are discounted the more units you list.
Apartment List believes the targeted results not only improve the odds of a successful match, but could lead to more satisfied tenants — who would prove more likely to renew.
10. Walk Score
Walk Score makes non-car commuting the primary focus by ranking homes and apartment buildings based on their proximity to attractions and necessities like grocery stores and business districts. A strong walk score can act as shorthand for high desirability when tenants are searching for shorter commutes, dining, and entertainment within reach.
Listings on Walk Score come from listing providers rather than direct landlord submissions, but creating a free rental listing on Avail will automatically add your listing to the platform. The site also offers badges with your unit’s walk score number, which you can attach to your listings elsewhere to tout a great location.
11. Zumper
Zumper caters equally to landlords and tenants. The site uses two-way matching to let prospective renters search by their top criteria and let listing owners stipulate credit score minimums for applicants. It’s free to post on Zumper, and any listings added to their site are also added to PadMapper automatically.
12. Apartment Finder
Apartment Finder is the platform for renters to find the best deals. Listing is free for landlords and the site categorizes units with badges to indicate when prices drop, when a unit is listed for a lower rental rate than others in a highly ranked building, or if it comes with incentives like a free TV or discounted rent.
13. Craigslist
Craigslist is one of the best-known options for finding a rental (or a couch or a gig), but it’s also one of the least regulated. As a landlord, listing is free and easy, but it’s also easy for scammers to take advantage of your hard work through common schemes like cloning a listing — then intercepting interested renters and taking their security deposit.
If you list here, take extra steps to outline in your post the basics of your showing process so prospective renters can tell the difference between dealing with a legitimate landlord or falling for a fake. It’s also important to not rely on Craiglist to generate rental listings, as many users have experienced spammy listings and unfavorable experiences with the site.
14. Facebook Marketplace
Facebook itself is best known for connecting users, but the creation of Facebook Marketplace means users can now advertise available rental properties on the platform.
While Facebook Marketplace isn’t a traditional rental listing website, its biggest strength is increasing the visibility of a rental listing. The site is known for generating quick responses to rental ads, and landlords can take a closer look at applicant profiles through the platform to get a better idea of who has responded to their ad (and to ensure they aren’t a scammer).
15. RentDigs
RentDigs offers many of the other platforms’ perks — free listings for landlords on sites like Oodle.com, Trovit.com, claz.org, Mitula.com, and RentJungle.com. But its unique benefits include reports on the number of users who view your listings and no registration requirements for prospective renters to peruse the site.
The drawback to asking renters to create an account to view and respond to listings is an extra hurdle that can turn some renters off before they make it to your listing. But it can also weed out any prospects who aren’t serious about the search.
16. Rent.com
Rent.com (acquired by Redfin) allows landlords to advertise single-family homes and apartment communities with multiple units to find qualified tenants. With one click, your listing through Rent.com syndicates to their website, ApartmentGuide.com, Rentals.com, and Redfin. You can post your listing to 10 other sites for an additional charge.
Once prospective tenants submit an inquiry on your property, you can screen them and accept online rental applications to save time.
17. Dwellsy
Like Rent.com, Dwellsy is a platform that makes it easier to advertise single-family homes or buildings with multiple units for free. They offer two listing options — Dwellsy Direct for smaller landlords or Dwellsy Feed for professional property managers and investors. The type of rentals you own will influence the kind of options you go with.
18. RentalSource.com
RentalSource.com makes it easy to list your house, apartment, townhouse, or condo on Realtor.com®, Zillow, Housing Watch, Facebook, Trulia, HotPads, Walk Score, and Oodle for free (unless you own more than 50 units). You can manually create your listing or use their listing builder to streamline the process of advertising your rentals.
If you use this site, it’s important to note that you may need to outsource additional tools to screen prospective tenants and schedule property showings.
19. RentRedi
RentRedi is landlord software that allows you to publish your rental listing on Realtor.com® and Doorsteps.com at no additional cost. With more tenants opting for virtual tours, you can easily add virtual tour options when scheduling showings with prospective tenants to simplify the process.
20. DoorLoop
DoorLoop is designed for property managers, investors, and landlords looking to manage properties in the U.S. and abroad. They offer three subscription options: the Starter plan starts at $59/month, the Pro for $99/month, and Premium for $139/month.
With DoorLoop, you can post your listing on six sites: Zillow, Trulia, Hotpads, StreetEasy, RealEstate.com, and Apartments.com. This feature is only available for their Pro and Premium subscriptions, meaning you’ll need to publish your listings with the Starter account manually.
Post Your Rental Listing With Avail
Ultimately, you’ll want to post your listing to a rental website that connects you with strong leads, saves you time on marketing, and gets a good tenant in the door fast. You’ll need to get your listing in front of as many prospective tenants as possible.
Create an account on Avail to syndicate your listings to a dozen of the top rental sites in minutes. Manage tenant leads, screen prospective tenants, request rental applications, and more with landlord software designed with you in mind.
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While needing to rent an apartment sight-unseen isn’t ideal, it also isn’t uncommon. Tenants moving across the country for love, school or work often have limited time to find a new home and their moving budget may not include funds for apartment hunting trips. But for landlords, renting an apartment to a tenant sight-unseen may feel like a risky proposition.
The best way to screen sight-unseen tenants is to be consistent and thorough. Following these six guidelines for screening tenants sight-unseen will help you cover all bases so you can make the best decision about a tenant you haven’t met in person.
1. Know the Risks of Renting to a Tenant Sight-Unseen
While many people have legitimate reasons for wanting to move quickly, urgency, sob stories, and offers to pay above the asking amount are all red flags that need to be investigated.
Sure, a tenant could offer to pay extra to shorten the process and secure the unit, but it may also be a scam that relies on your willingness to pocket the bigger payment to get their foot in the door, after which the rent checks stop coming.
Pump the brakes on anyone who tries to get you to shortcut the review process. For one thing, you need to be able to thoroughly vet their applications materials, but you also need to ensure they know what they’re getting for the rental money. Even if they’re willing to rent without a tour, you’re better off insisting on at least a virtual walkthrough to avoid a situation where your new tenant arrives with inaccurate expectations and accuses you of false advertising.
2. Start With a Pre-Screen
Good tenant screening starts with a pre-screening process. Ideally your tenant requirements should be included on the listing to help people pre-qualify themselves before even reaching out, but it’s a good idea to use the first contact to ask these questions yourself.
Especially if you’re dealing with a tenant who is unable to meet in person prior to the move-in date, it’s wise to have an initial phone conversation to ask them the basics, such as their reason for moving, their timeline, the number of people who will be sharing the unit, and whether they have pets or smoke.
3. Don’t Skip the Showing
If that initial conversation goes well, it’s time to move onto a showing. For remote applicants, share photos of the unit and all shared spaces, including laundry areas, exterior entrances, staircases or elevators, parking, mail rooms and amenities. If the tenant is happy with the photos, set up a time to do a video walkthrough of the space and pay attention to the questions they do — or don’t — ask.
It may seem redundant to share photos and do a video walkthrough, but pictures don’t always accurately represent the current state of a unit. Plus, the video meeting offers another opportunity to feel out an applicant and confirm that they are who they say and have a sincere interest in your unit. If a prospective tenant is earnestly interested in finding a home where they’ll be happy (but can’t visit in person), the offer to do a video walkthrough should be a welcome one.
4. Be Thorough With Background Checks
Prospective tenants may misrepresent their income, their employment, their eviction history or even their identity to get into a unit. It’s your job to cut off potential scams by taking the time to verify all of the information provided to you through your own applicant screening process.
Screenings for every eligible applicant should include criminal background and credit checks, employment and income verification, and calls to their references and past landlords.
Never take a tenant’s word in lieu of paperwork and never accept paperwork without independently verifying it. A market exists for fraudulent pay stubs or employment contacts, but if you do a full credit and background check and call all references, you’ll be better protected against scams.
5. Consider Customizing the Rental Lease
Using a consistent and thorough screening process is a good way to prevent scams, save time, and ensure that you don’t ask any questions that could be construed as discriminatory. But once screening is complete, you can make some customizations with your lease. Your typical renting term might be 12 months, but for someone moving to your area from out of state, you could offer the option to do a 6-month lease instead.
The shorter option gives you both the opportunity to reassess the situation sooner and to ensure it’s working for both parties. Just be aware that if you have multiple units, shifting the rental season for one could have an impact on the time you spend advertising and showing rentals, since it may no longer align across all of your properties.
6. Making the Call
Renting to a tenant sight-unseen is a unique situation, but ultimately it’s best managed by using the same process you use for every other applicant. The main thing to remember is to never skip steps or make exceptions that shortchange your vetting process. Communication is key and you can always reserve the right to deny an application for legally appropriate reasons.
Just remember: Good landlord-tenant relationships start with reliable information, so the first step is to get a strong screening and application process in place.
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An apartment showing is a great chance to ask the landlord questions you may have on the property, see the apartment in person, and view the neighborhood. While there are other parts of the renting process you’ll need to prepare for, the first step is viewing the property in person to decide if you want to submit an application.
In this article, we share everything you need to know on apartment showings to help you feel prepared as a renter.
How to Act During an Apartment Showing
An apartment showing is the first time you’ll be meeting the landlord in person or speaking with them virtually. Below are a suggestions on how to act during an apartment showing to leave a good impression:
- Communicate professionally: When requesting a showing, be respectful of the landlord’s time and be sincere in your interest. Pick a mutually convenient time, share your phone number in case of last-minute issues (or to be notified if the unit is snapped up) and arrive on time. Professional communication is a two-way street: If the property manager is tough to pin down or short on details, keep in mind what that might mean if you have to rely on them for maintenance and repairs as a renter.
- Don’t come in blind: Before scheduling a showing, make sure the rental rate is within your budget. When landlords run credit checks, they’ll look to make sure your monthly earnings are at least 2.5 to 3 times the rental rate. If you know you don’t meet that benchmark but have a co-signer, consider sharing that info upfront so you won’t be disqualified.
- Bring a checklist: Having a list of questions to ask helps you cover your bases and demonstrates you’re organized and conscientious, which will score points with the landlord.
- Say thank you: Many landlords manage properties in addition to holding full-time jobs. Depending on the market, they could have dozens of showings a month. Expressing appreciation for their time is not only kind, it’ll go a long way toward showing the landlord you’re the kind of person they want as a renter.
The apartment showing should include a tour of the open unit and any additional spaces you’ll have access to, such as laundry rooms and amenities spaces. A showing is your opportunity to assess the space, ask questions and confirm the details so you know what your rent will cover.
Remember that you’re allowed to see all spaces and amenities that are included in your rent, and under Fair Housing laws, a landlord isn’t allowed to steer you towards a particular unit based on something like a disability or familial status.
What to Ask During an Apartment Showing
Before filling out a rental application, you should be well-informed on the apartment to avoid dealing with non-stop maintenance requests or issues. Here are three questions you can ask your landlord during an apartment showing:
- How are utilities handled? Will you need to set up any services under your own name? Are utilities included in the rental rate? If not, what’s the average utilities cost per month?
- How are requests for maintenance and repairs addressed? Some units have an on-site manager, others ask that you call or email with non-emergency requests. A good landlord should have a clear process for addressing issues and will appreciate you asking about the proper protocol.
- Can I take photos? If a unit is occupied during your showing, you may not be allowed to take pictures, but you should request an opportunity to do a walkthrough prior to move-in to take photos documenting the condition of the unit. This protects you from being charged for issues on move-out that predate your tenancy.
Finally, be on guard for scams. If a landlord shows you a model unit instead of the specific apartment open for rent, proceed with caution and definitely don’t sign an agreement without doing a walkthrough of the actual unit. Once you’ve filed an application and been approved to rent the unit, it’s time to ensure the terms of the rental lease align with your needs and expectations.
The two biggest rules of thumb for rental leases are: If you don’t understand something, ask, and always get changes in writing.
What If the Apartment Showing Goes Well?
If you’ve decided the apartment is for you, then the next step is signing a rental lease with your landlord. Every lease agreement includes different clauses based on where it’s located, but here are the main sections to look for:
- The lease length — and your options for terminating it early: Don’t assume you can find a subletter or leave the contract early without penalty. Make sure you understand and agree to the policy, and make sure the lease is detailed enough to outline all important rental clauses, rules and responsibilities.
- The roommate and pet policy: Landlords may allow roommates, but might have specific requirements for candidates or mandate that all occupants have to be on the lease. Likewise with pets: Leases may stipulate that only certain types of pets are approved, include a size restriction, or consider a portion of the security deposit a payment toward cleaning or refinishing floors when a pet moves out.
- Costs and payment options: Can you pay rent online, or are you expected to drop off a paper check at the end of every month? When is rent due and how much is the late fee? Landlords often require an application fee, move-in fee and/or security deposit prior to move-in, but you should not be asked to pay multiple months’ of rent upfront.
- Emergency procedures and maintenance: The lease should detail how emergency needs or maintenance requests should be communicated and how quickly you can expect them to be addressed. It should also include the lockout policy so you know who to contact if you lose your key and what it will cost.
- Which modifications are allowed: Even something as simple as painting or hanging pictures with nails may be a no-go in the lease. That said, there’s often room for negotiation. Just be sure to get any verbal agreements added to the lease before you sign.
Will I Need to Pay a Security Deposit Fee?
Landlords typically require renters to pay the first and last month’s rent and a security deposit before you can get the keys. Some states limit how much landlords can request for a security deposit, but some leave it up to the landlord’s discretion. Security deposits are often equivalent to one month’s rent, but check your state laws to make sure you aren’t overpaying.
You will only be required to pay a security deposit fee if your rental application has been approved by the landlord and you’re planning on moving in.
Find Your Next Apartment With Avail
An apartment showing doesn’t have to be stressful. They’re a great way to view the property, get to know the landlord, and see if it’s a right fit for you. If you’re still on the search for a new apartment, you can easily find nearby rental properties near you with Realtor.com®.
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It’s a good idea to have a thorough screening process for prospective renters, but if you don’t know the Fair Housing laws, you might not realize there are certain questions that are illegal for landlords to ask tenants.
To avoid violating renter protections — and protect yourself from a bad tenant — the best offense is a clear and consistent screening and application process. And that starts with knowing what information is in-bounds for assessing applicants and what isn’t.
Questions Landlords Can (and Should) Ask When Screening a Tenant
At a basic level, you need to know four things about any prospective tenant:
- Can they afford the rental rate and pay on time, every time?
- Are they amenable to a move-in/move-out timeline that aligns with the unit’s availability?
- Will they be a safe and respectful neighbor and tenant?
- Will they agree to allow you to verify their information with reference, background, and credit checks?
The first two questions can — and should — be part of your first conversation with a prospect. You are legally allowed to ask about their monthly income and should do the math on your own to ensure it’s at least 2.5 to 3 times the asking rent amount.
But it’s not enough to stop here; you’ll want to verify that income amount during later phases of the screening process. The area to avoid regarding income, however, is asking where it comes from. Asking a tenant if they receive welfare or another public assistance is considered discriminatory.
You’re also allowed to ask when they’re planning to move. If the tenant wants to move in immediately or is looking more than two months in advance, that can be a warning sign. Immediate occupancy needs suggest they might be bad at planning while searching too early could mean they’re not yet serious.
True, those assumptions are speculative, but because they’re speculations based on logistical information that has nothing to do with any of the applicant’s protected categories under the Fair Housing Act (race, nationality, religion, sexual orientation, gender (in some, but not all states), relationship status, children, age or disability), they’re legally fine.
Assessing whether someone will be a safe and respectful tenant walks a finer line. Landlords are entitled to know about any criminal convictions (note that this is changing in some cities), though you cannot discriminate against someone for having a criminal record when deciding whether or not to rent to an applicant. You also can’t ask about any arrest records as innocent people can be arrested.
Confirming simply that applicants are on board with a background check is a good way to ensure you’ll have access to criminal information without personally having to risk asking anything that might be illegal. Likewise, credit checks and employer or former landlord references provide excellent insight into a tenant’s past behavior.
One pro tip: If possible, ask the tenant to share information for a former, rather than current, landlord. A current landlord will be highly motivated to get a bad tenant out, so they may not be the best source of information.
Questions Landlords Cannot Ask When Screening Tenants
Laws governing tenant screening exist at both the state and federal levels. State laws align with the state where the rental property is located, so even if you’re in California but your unit is in Illinois, Illinois laws apply.
The goal of landlord-tenant laws is to protect both parties. As such, Fair Housing Act rules particularly focus on removing opportunities for conscious or unconscious bias. Questions that might feel like — and even be intended as — polite small-talk, such as asking where a person’s accent is from or if they have any children, should be avoided since they relate to protected facets of personal identity that can be the basis for discrimination.
Here are some examples of questions that may seem benign, but are actually illegal to base any rental decisions on under the Fair Housing Act:
1. How old are you? Age is a protected category. With the exception of senior living communities, choosing whether to rent to a person based on their age is illegal.
2. Do you plan to have kids? Asking about children is off-limits, including inquiries into the possibility of having kids in the future. You can, however, ask how many people will be living in the unit.
3. Do you have any disabilities? If a unit is available to rent to the public, it must be made equally available to able-bodied renters and those with disabilities. Even directing a prospective tenant to a specific unit because you feel it’s better suited to their needs can be a violation of the Fair Housing Act.
4. Are you married? Since familial status is a protected class under the Fair Housing laws, you should never ask a potential tenant about their marital status.
5. What church do you attend? Even if you’re just trying to make conversation, steer clear of anything that touches on religion or religious affiliation, which is its own protected class.
6. Where were you born? Even if seemingly innocent, questions regarding nationality or ethnic background are off-limits, since assessing a tenant based on this information is discriminatory.
Remember: Aspects of an individual’s identity that could be used to discriminate against them (even if it’s not at all your intention) are illegal. Even language that would seem innocuous, such as advertising a unit as “Great for young couples!” shows a preference for one group over another and can be held against you.
As a guideline, focus on the questions that will get you the necessary, need-to-know information from a tenant. Review the Fair Housing rules, and if a question seems like it might be out of bounds, don’t ask.
To cut out the guesswork and simplify the tenant screening process for yourself, consider using a standardized rental application to ensure everyone is treated fairly and you get the best information to make good decisions for your rental unit.
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Most landlords recognize the property management advantages of installing smart devices in their units, but the question over financial advantages of such upgrades is less clear-cut. Luckily, more data around the bottom-line benefits of smart home amenities is starting to emerge.
More than 75% of surveyed renters said they would pay more in rent for a package of their top three smart home amenities, and more than half said they’d be willing to pay rent increases of at least $20 a month.
A similar study conducted by smart locks and security systems company Schlage found that 55% of millennial renters said they would be willing to pay more for a rental unit with high-tech door locks. On average, the study found millennials were willing to pay about 20% more for units with smart home features.
But different smart home devices may have different ROI potential, and automation and surveillance features that might appeal to homeowners could feel like a breach of privacy to renters.
Given the data available, these are the smart home upgrades that look to have the greatest value for landlords and their rental properties:
Smart Safety Features
Because renters report improved safety as one of the most appealing factors of a rental property, smart safety features are a promising area to invest in when upgrading your property.
Smart locks are one of the more popular smart home devices for landlords and tenants, since a physical key isn’t required. Most smart locks are opened via pin code, bluetooth connectivity or by scanning a smartphone, and landlords don’t have to replace the locks and keys when a tenant moves out or deal with tenants locking themselves out of the unit.
Keep in mind that lower-end smart locks provide less security (pin codes can be shared and buttons get worn out), and stories of smart door locks being susceptible to hackers have made some renters nervous about seeing such systems installed in their own units.
If you decide smart locks aren’t a good option for your property, consider investing in smart outdoor lighting that’s motion-activated. Smart lighting helps tenants get safely up the walkway in the dark and can scare off would-be intruders.
Another safety option is installing smart cameras at building entrances. Cameras give tenants additional peace of mind that the comings and goings around the building are being monitored. They can also deter thieves from snagging packages — a nice feature if you don’t have a doorman to receive deliveries. Smart video monitoring for your building is inexpensive and easy to install, but keep in mind that cameras will need to be maintained or replaced if necessary.
Utility Savers
Tenants recognize the value of lower utility bills, so devices like smart thermostats or smart plugs (which allow you to turn off electricity to specific outlets remotely) help renters save money and help prevent accidents if something gets left on.
While there can be an upfront cost to installing smart thermostats or smart plugs, both are relatively easy to install and typically sought after by tenants. These utility savers help tenants manage the property — even when they aren’t at home — and more importantly, can prevent accidents, which will save a landlord time and money.
Moisture Sensors
Pooling water can become a big issue, fast. Unfortunately, if an issue originates in the building’s basement, a washing machine, or under a tenant’s sink where it’s hard to spot, it can often go unnoticed long enough to do real damage.
Installing smart moisture sensors in such areas is a relatively inexpensive insurance policy you can set and forget. The system will trigger as soon as an issue is detected and could save you thousands of dollars in repairs. If you own a property with a basement or another at-risk area that’s not regularly monitored or used daily, installing moisture sensors could save you a major headache.
Determining ROI From Smart Home Devices in Your Rental Property
Calculating the return on investment you’ll get from any smart home device that you add to your rental property is essential. A rental with the right smart home devices should ideally help you find quality tenants, raise the rent on your property, and save you time and money in the long run.
Some smart home devices — like a high-end smart lock for the front door — might cost you more upfront, but will also help attract tenants who are ready to spend more on rent to live in a tech-savvy property. As a guideline, you wouldn’t want to spend significant money on a smart home feature if you don’t think you’ll be able to make that money back in rent (or in savings on other maintenance or operating costs).
Check out other listings in your area to see if properties are offering smart home devices, and if they are, see what they are charging in rent. Make sure that your rental is located in an area where smart home devices would be desirable for tenants, and choose the smart home devices that suit best your property needs.
Once you upgrade your property, make sure you highlight your new smart home devices in your rental listing.
Smart Home Device “Don’ts” to Keep in Mind
Just as important as smart tech “do’s” however, are the “don’ts” — or at least the “don’t just yets”. In an article by CNET, some tenants expressed dissatisfaction with their landlords’ decision to add smart technology to their units without the option to opt out.
In one instance, the article quotes a tenant who got locked out of his unit when a new smart lock was involved. To resolve the issue, maintenance personnel connected the smart lock to the tenant’s personal home network without permission. The breach of privacy was nearly enough for the tenant to move out.
Some smart home devices collect data on users to sell to advertisers. Tech-savvy tenants know this, and expect landlords who choose to invest in smart home features to do their research to protect their residents’ information.
Still, smart home features that enhance safety, lower utility costs or add to convenience for tenants without sacrificing their privacy can be a real draw to renters. Just be sure you know how data is stored, how to manage the system, and how to talk with tenants about the value before you go all-in.
Once you’ve updated your smart home devices, it’s time to assess your landscaping and outdoor areas. Our next chapter will walk you through some low-maintenance landscaping tips to get the most out of your rental property.
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As you’re budgeting for renovations on your rental property, there are two essential things to keep in mind: Don’t renovate your rental property the way you’d renovate your own home, and don’t forget about return on investment.
Remember that your rental property is just that — a rental. It’s possible that you’ll wind up with tenants who don’t appreciate the details or quality you’ve invested in, so don’t overdo it. Quality and durability matter, but keep it simple and practical.
You’ll also need to determine the projected return on investment from renovating. You should be able to estimate the increase in rent that will come out of the renovation or be able to calculate the return on the property’s renovated value if you were to sell. If you aren’t able to come up with numbers that make the renovation worthwhile, you might want to reevaluate your plans.
That said, making renovation decisions and pinning down exact numbers can be challenging, and there are a few important factors to consider before you begin. Here are three key considerations to help you get started:
Consideration 1: What to Repair vs. What to Replace in Your Rental Property
If you’re deciding whether to repair or replace, note that there’s a tax incentive for landlords to conduct repairs in their rental properties rather than replacements or renovations. This is because repairs are immediately deductible as an expense, whereas renovations must be amortized over a handful of years.
Here are some tips on common replace-versus-repair decisions that landlords often need to make for their rental properties:
- Hardwood floors: Real hardwood should last a lifetime if it’s well cared for. Even when it’s not, it’s often possible (and cheaper) to refinish rough surfaces or replace specific boards rather than ripping up the whole floor.
- Appliances: Before shelling out for a replacement appliance, search RepairClinic.com for resources to help you diagnose — and fix — the issue yourself.
- Cabinets: The National Kitchen and Bath Association lists cabinets as one of the top costs during renovations. If your cabinets are structurally sound, DIY cosmetic fixes are probably all you need. But, if you do decide to replace rather than repair, keep in mind that stock cabinets range from $80-400 apiece as compared to custom cabinetry, that runs from $500-1500 a cabinet.
- Furnace: The maximum usable life of a furnace is 15-20 years. If yours is on the young side, go the repair route. But if it’s getting close to its end date, go ahead with the upgrade. Make sure you get the right size furnace for the space, though. If it’s too small, it’ll work overtime, costing you more money and possibly shortening its lifespan.
- Energy drains: Older-model air conditioners and toilets could be costing you money simply because they aren’t as efficient as newer models. An energy-efficient A/C can net up to 20% savings in cooling costs over an older model and a low-flow, high-efficiency toilet can result in $2,000 of savings over its lifespan.
- Windows: If your windows have rot or structural damage around their frames, it’s time to replace them. Vinyl windows are known to have better seals than older wooden windows, preventing cold drafts in the winter and saving you money on your heating bill. New windows — or adding insulation to existing windows — can also provide savings over time through increased energy efficiency.
Minor fixture replacements can also make your rental look better for prospective tenants and help eliminate some maintenance issues. Upgrading door handles, faucet handles, outdated light fixtures, or old blinds are inexpensive ways to add some appeal to your property.
Consideration 2: Choosing Rental Property Renovations With the Greatest ROI
There are a handful of reasons you’d want to renovate your rental, but getting some return on your investment is usually one of them. That’s why it’s essential to determine which parts of your rental property will bring in the most return on investment from a renovation.
Prospective homebuyers often cite the kitchen as the most important room in the home, followed by the master bedroom and living room. Among renovation projects, the following were the most affordable AND had the best ROI, according to Remodeling data:
- Midrange bathroom remodel: Cost $20,420 with a ROI of 67%. Note that bigger doesn’t always mean better ROI. An “upscale” bathroom remodel cost more than 3 times the midrange upgrade, but only recouped 60% of its costs.
- Minor kitchen remodel: Cost $11,507 with a ROI of 81%.
- Bathroom accessibility updates: Such renovations are particularly good for markets with older renters interested in aging in place. The average cost of this work in 2019 was $33,374, but owners recouped 63% of the cost on resale.
Consideration 3: Keep Rental Property Renovations Simple
Even modest bathroom and kitchen renovations can have a big impact on your rental prospects and returns. Here are some basic kitchen and bathroom renovation strategies to try according to the needs of your space and your available budget:
- Focus on issues: Not enough counter space? A lack of light over the kitchen stove? Is the bathroom vanity too large for the space? Try using the kitchen and bathroom the way your tenants will to diagnose any issues that affect how they function.
- Stick to surface-level changes: If a space functions well, but is lacking in looks, a few DIY cosmetic changes can work wonders. A fresh coat of paint on the cabinets, trim and walls is an inexpensive way to make a big difference in the feel of a room. BobVila.com recommends sticking to neutrals and using the 60-30-10 ratio for color schemes: 60% of your main color, 30% a complementary color and 10% for an accent color.
- Add storage: Kitchens and bathrooms both come with a lot of stuff you need — just not every day. Adding a kitchen island with storage space beneath, or fitting a slim shelving unit against the wall around the toilet or vanity can add helpful storage that will appeal to renters and encourage tidy living.
- Pick no-fuss finishes: With so many people (with different cleaning habits) moving in and out of your unit, it’s less about choosing the fanciest finishes and more about choosing the low-maintenance materials that will look great longest.
Consider using resin-based or laminate countertops over natural stone for a lower price point and easier care. For flooring, consider porcelain or glazed tiles in smaller sizes. The extra grout surrounding the smaller tiles helps keep floors slip-resistant when wet.
Finally, it’s important to avoid over-renovating your rental. Keep in mind the size and style of the rental property, the neighborhood your property is located in, and what your rental competition is in the area. You don’t want to go overboard on renovations only to find out that factors like these will limit the actual return on your investment.
Renovations can feel like a big undertaking, but even on a budget, you can do a lot to raise the appeal for future tenants and add value to your property. At the end of the day, well-planned renovations can help you increase your rent, reduce maintenance costs, and better position you to compete with other rentals in the area so you can secure quality tenants.
Once you’ve budgeted for renovation costs, we’ll walk you through the next important steps — like choosing the right appliances or picking the appropriate flooring for your rental.
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Whether you’re about to become a renter for the first time or you’ve been around the block, it’s always a good idea to prepare a few questions to ask before signing a new lease.
These questions never replace the need to read your lease (always read your lease!), but getting them answered before it’s time to sign can improve your odds of choosing an apartment with rules you can live with.
Questions to Ask When Renting an Apartment
Here are the 12 essential questions to ask a landlord or property manager around apartment costs, apartment policies, and moving:
1. Which utilities are included in the rent and which am I responsible for?
A $1,000 a month one bedroom with all utilities included could be a much better deal than an $890 a month unit where you have to pay everything separately. Landlords have complete discretion over how they handle utility payments with their tenants, so it’s important to make sure you understand how it’s divvied up.
If you’re going to be paying utilities separately, ask the landlord how much these cost the current tenants each month so you can take that into account when comparing rental rates.
2. What costs are required to move in?
Most landlords require at least the first month’s rent upfront, but it’s not uncommon for leases to require the first and last month’s rent along with a security deposit in the range of a couple hundred dollars.
If you can’t afford that payment at signing, you may need to look elsewhere or delay your move-in date until you have enough saved.
3. What are my options for paying rent?
Most rental companies and private landlords offer an online payment option, but not all do. If your lease requires you to hand deliver a check to the rental office each month, consider how feasible that is for your lifestyle. If you can’t consistently make that errand on time, the penalties for a late payment could be added fees and possibly a hit to your credit score if your landlord chooses to report the late payments.
4. How do you handle maintenance requests or emergency repairs?
A good landlord will have a good answer for this, ideally one that includes specifics around who to call and how quickly to expect maintenance personnel at your door. You might also ask the landlord’s policy for granting repair professionals access to your unit. Check to see if your landlord uses an online maintenance portal where you can quickly document and request any necessary repairs.
5. What are my options for parking?
It’s not uncommon for buildings to offer the option to rent an on-site parking space for an additional fee. If you go that route, be sure to find out what information is necessary to get your vehicle approved for the lot so it won’t mistakenly get towed.
Some units offer guest passes for visitors with vehicles. Make sure you know the policy before your friends arrive.
6. What are the rules around painting and decorating?
Don’t assume that you can paint your space, or even hang pictures on nails. Your lease may prohibit it outright or allow it with the caveat that you repaint and spackle any holes before moving out. Glossing over this requirement could be the difference between getting your security deposit back or not.
7. What are the rules for common spaces?
Amenity rooms, pool decks and lounges can be a great perk of newer apartment buildings, so long as you know how they’re used. How is the space maintained? Are there quiet hours? If the unit you’re looking at is next to a common space, ask a few questions to get a sense of how much noise and activity will be going on outside your door.
8. How are deliveries handled?
This seems like a small thing, but losing a package that got lifted off the stoop or delivered to the wrong door is a major bummer. If you’re not someone who gets many deliveries, you can skip this question or save it for after move-in. But if you mostly shop online or get frequent deliveries for work, it’s worth finding out about your options for keeping packages safe when you can’t be there to receive them.
9. Are pets allowed?
If you have any pets or are planning to bring one to your new apartment, this one could seem like a no-brainer. But some landlords don’t allow pets and don’t mention it up front, and some prospective tenants forget to check.
Ask questions and make sure you know the ins and outs of having a pet in your new apartment. Will there be a pet deposit? Extra fees? Any pet-related building rules you should know about? Get all the information upfront so there are no surprises later.
10. What’s the policy on subletting?
When an unexpected need to move arises, you don’t want to discover that your lease prohibits you from leaving early. Subletting policy is up to your landlord, so make sure you know what’s allowed — and what’s expected of you — if you need to leave before your lease is up.
11. How can I get my security deposit back?
The best defense against losing your security deposit is an informed offense. Will you be expected to repaint? Patch holes? Will the landlord provide a move-out checklist noting items you could be charged for if they’re not maintained appropriately? Make sure you know what’s expected and file those expectations away for easy reference when it’s time to move out.
12. Do your properties have automatic lease renewal?
Automatic lease renewal clauses can be tricky. On one hand, if you’re happy where you’re at, you don’t need to take any action to stay there from one lease term to the next. But on the other hand, if you decide you’d like to move, the burden is on you to communicate that to the landlord by the date stipulated in the lease or risk being charged an extra month’s rent for the late notification.
Find Your Next Apartment and Save Money on Application Fees
With these questions on hand, you’re ready to find a great new place! Use Realtor.com’s apartment hunting tool to find apartments in the price range and location you want.
Once you’ve found the right place, create a free renter profile to share with any landlord to avoid filling out duplicate application forms and paying multiple application fees.
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Just getting started in real estate? Maybe you’ve bought your first rental property or maybe it’s your first foray into life as a landlord — either way, there’s a lot to consider. If you’re not afraid of tackling a new challenge (or 20), owning a rental property can yield personal rewards as well as financial gains.
Here are seven tips to help ease the learning curve as you get started in real estate.
1. Know the Tax Implications Before Making Renovations or Repairs
A repair is anything you do to the property to restore it to working order. A renovation, however, adds value or increases the lifespan or usefulness of the property.
In terms of tax implications, repair costs are fully deductible in the year the expense occurs. Renovation costs, however, are not tax-deductible. According to the IRS, the cost of improvement projects on residential real estate is recouped through depreciation, which is spread over a period of 27.5 years.
Before you go all-in on upgrades to your first property, make sure you understand what it will mean for your bank account.
2. Find Good Rental Property Help
Even if you’re managing your property yourself, you’re going to need reliable contractors and handymen from time to time. A handyman is a jack-of-all-trades and typically best for small jobs that don’t require extra specialization. Handymen are often certified for some specialized tasks like plumbing or electrical (always ask), but they’ll be less experienced than specialists.
Sites like Angie’s list, with reviews from customers, are a good place to start the search, or you can contact the Association of Certified Handyman Professionals to find accredited help in your area.
3. Learn the Ropes to Market Your Rental Units
A rental property is only as good as its rental income, so finding trustworthy tenants who will pay on time and treat the place like their own is essential.
Craft a clear ad accompanied by high-quality photos of the unit to post on popular apartment listing sites (or one site that aggregates them for you). A good headline, professional tone of voice and well-lit photos that show the full space are the key ingredients to getting good leads.
4. Screen Your Tenants Before Handing Over the Keys
It may surprise you, but a study by TransUnion found that less than half of landlords complete credit checks on their tenants before approving them to move in.
Don’t skip this step. A credit report allows you to confirm that an applicant can afford the rent. It also provides a look into their history with bills. Do they pay on time? Are they maxing out their available credit? If you don’t review this upfront, you’re likely to regret it later.
5. Don’t Wing It on Legal Documents
You don’t have to have a law degree to be a law-abiding landlord. There are online lease templates that can provide the framework for legal agreements with your tenants, but you may want to customize those documents — and you’ll need to know what it all means.
You should also review landlord-tenant laws in your state. Doing so will ensure you know the specifics around issues like how much required notice landlords must give tenants before entering their unit, or whether refundable security deposits must pay out yearly interest to tenants.
Note that your lease should align with the laws of the state where the property is located, even if you live elsewhere.
6. Automate Your Rental Processes
As a new landlord, you’re going to have a lot of information and to-dos competing for your time. Set yourself up for success by automating your rental property systems and doing things online.
Just like you automate bill payments and reminders with your bank, use your calendar to set up reminders for when it’s time to check on rent payments, change the air filters, service the HVAC, or check in with tenants on their plans for renewal. You can also take advantage of things like digital rental applications and online rent collection that make the entire rental process easier and faster.
7. Use Landlord Software to Manage Your Properties
When you’re getting started in real estate, this can all feel overwhelming. Luckily, there are property management tools like Avail to help you expand the reach of your listings, screen tenants, send applications, collect rent payments, and much more. Plus, Avail is free for unlimited rental units.
Manage Your Rental Properties With Avail
Getting started in real estate can be easily done with the right tools and resources. Once you’ve purchased your first investment property, Avail can help you streamline the rental process in minutes.
Create an account today to advertise your rental property, access lawyer-reviewed lease agreements, collect rent payments online, and much more.
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