In the current market, there’s a high demand for well-maintained rental homes in desirable locations. When you can provide a great property, you’ll have no trouble attracting qualified tenants quickly.
The amount of time it takes to rent out your Memphis property will depend on a number of factors that are unique to you. Avoiding long vacancy times is critical, so pay attention to the following factors when you want to rent your home quickly.
Prepare Your Property for the Memphis Rental Market
Whether you’re renting your home out for the first time or turning it over between tenants, you cannot effectively find a tenant if the property isn’t ready for the market. Take the necessary steps to make it rent-ready, and you’ll find it doesn’t take too long to rent out the property. Here are some of the important details to take care of:
- Inspect the rental home thoroughly to ensure nothing needs to be repaired or replaced.
- Make sure the home is empty; all personal property should be removed.
- Have the home professionally cleaned.
- Check the landscaping and curb appeal – does it look welcoming and inviting?
If you try to rent out a home that isn’t move-in ready, it will likely take you longer to find a tenant who is willing to fill out an application and sign a lease.
Strategic Marketing and Online Advertising
Memphis rental homes are leased faster when the marketing is strategic and able to attract a large pool of tenants. Online advertising is your best resource. Make sure you’re creating listings that grab the attention of prospective tenants and motivate them to see your home. Start with good pictures because that’s what tenants will look for first; photos of your property. Then, write a compelling description that includes details such as rental amount, whether pets are allowed, and when the home will be available for move-in.
Respond right away to people who call or message for more information. If you are responsive and proactive, you will rent your home a lot faster.
Memphis Tenant Screening Process
Renting your property quickly is important, but even more important is renting it to the right tenant. You’re looking for a well-qualified renter who can be counted on to pay rent on time, take care of the home, and follow the terms of the lease. Don’t skip a rigorous screening process just because you want to get them moved in right away.
With the technology available to Memphis property managers today, you can expect to gather all the necessary information and background checks quickly. At the very minimum, make sure your screening process includes:
- Credit check
- Criminal history check
- Income verification
- Rental history verification
Check to make sure that all addresses, identifying information, social security numbers, and other reported details match up to what’s on the application. Once you’ve found a qualified application, set a move-in date, collect the security deposit, and sign the lease.
This process doesn’t have to take more than a few weeks. When you’re working with a great Memphis property management team, you can move a tenant in days after the property becomes vacant. If you’d like to hear about our vacancy and retention rates, please contact us at RiverTown Realty. We’d love to be your Memphis property management resource.