Getting a new tenant to sign a lease as a remote landowner can be a daunting task. Today we’ll break down everything you need to do to ensure that signing the lease for a remote investment is as smooth as possible. The key here is to use your property manager to their full potential – and make them do all the heavy lifting for you while you’re not around.
Rely on Your Property Manager
Your property managers are there for a reason – to make the renting and leasing process easier. Therefore, you should always use your on-site property managerproductively. Time is money after all, and efficiency is key here.And so, the key responsibilities of a property manager include:
- Taking pictures of the interior and exterior of the property.
- Properly marketing the property to the locals.
- Start accepting applications for the lease once they roll in.
- Screen potential tenants and renters.
- Help you lease the property out to the right tenant.
- Determine the best rental rates for the neighborhood market.
- Stick around to observe and help the tenant throughout their move-in.
A property manager has to ensure that the goals of the property owner are fulfilled when leasing out a property. Therefore, you need to have a good relationshipand build trust with your property manager,and hit the right goals when auditing and leasing your property.Additionally, treat your property manager as the source of truth when it comes to a remote investment, as they’ll know everything you need to do make better deals, and make more money from your leases and rentals within that neighborhood.
Try Pre-Leasing Your Rental
Before the current tenant leaves, it might be worth getting an interested tenant to sign a pre-lease – that is, as soon as the property becomes vacant, they can move in. Pre-leasing is fine if you don’t intend to take up some major renovation or remodeling and drastically reduces vacancy time. Therefore, plan when you put a rental on the market, having a pre-lease will help you reduce downtime between tenants.
Managing Real Estate Remotely to Quickly Sign New Leases
To make managing remote real estate easier; you can use technology to provide potential tenants with the following services:
- Self-Bookings: Renters can view your property online and book an appointment with your property manager before visiting the property. This allows the tenant to choose his or her own time and plan accordingly.
- Self-Showings: Here, a tenant pays a visit to the property of interest on their own without having your property manager hover over them. There are several security protocols here so you will always be aware of whatever is happening on your property.
These techniques will help prevent you from losing tenants to long waiting times. Moreover, it will help cut down on downtimes between tenant turnovers.
Conclusion
If you follow these simple tips, you can ensure that your next property lease will be quick and easy and you’ll find the right tenant. Remember to use your property managers to their full potential to market your rental property, find the right tenants, and close deals quickly.
