Across the US, about 36% of homes are occupied by renters.
Owning a rental property can allow you to generate recurring income, but it's not as simple as many people think. A lot of work goes into managing a rental property, and one task that can be quite challenging is finding suitable tenants. To make things much easier, you can hire tenant placement services in Greenville, SC.
So what is tenant placement, and how can professional services help? Keep reading to find out.
What Are Tenant Placement Services?
Tenant placement services are typically offered by property management companies. They help landlords find suitable tenants for their rental properties, and it involves several stages. This includes marketing the property, screening tenants, and moving the selected tenants in.
Reasons to Hire Tenant Placement Services
You may be thinking that you can do this yourself, but if you do, the chances of ending up with undesirable tenants significantly increase. There are several things that a tenant placement service will do which can benefit you as a rental property owner.
1. Effective Marketing
Most people search online when looking for a place to live. When listing your property, you want it to appeal to potential tenants. A property management company can do this very well.
From taking quality pictures to writing detailed descriptions of the property, they can market your home well so that more people want to consider living there. The better your marketing is, the more potential tenants you'll have showing interest. This will give you more candidates to choose from, so you'll be able to select someone you're happy with.
2. Tenant Background Checks
This is perhaps the most important reason to hire tenant placement services, as it's something you likely wouldn't be able to do on your own. They'll perform comprehensive background checks on potential candidates such as:
- Criminal background checks
- Credit checks
- Employment verification
By doing these, they can assess how likely someone is to be a good tenant. They'll be able to flag if anyone has a history of not paying rent or causing property damage, which are two things you certainly don't want from someone living on your property. The employment verification will also confirm that they have a steady income and therefore should have no trouble paying rent on time.
Once you've found a suitable tenant using tenant screening services, they'll be able to negotiate the final lease with them. The experience that a property management company has means they know their way around leases and can manage move-in and move-out expectations properly. This will ensure both you and your new tenants are happy with the situation.
Are Tenant Placement Services Right for You?
You might want to try to save some money by finding tenants yourself, but hiring a professional tenant placement service will yield much better results. It's the best way to ensure you have reliable tenants and will benefit you more in the long run.
PMI Upstate SC is a professional property management company based in Greenville, SC. We offer tenant screening services, as well as several other services that you might find useful as a landlord. Take a look at our Tenant Screening Services page to find out more.