Property Management Blog

Maximizing Rental Income with Strategic Tenant Placement Strategies

Maximizing Rental Income with Strategic Tenant Placement Strategies

Every property owner fears rental vacancies.

Although the rental vacancy rate in Utah is a relatively low 4.5%, you never want to be a property owner who can't fill a rental. If you're going to maximize your rental income, you need to make sure you've got quality tenants who remain in your Salt Lake City rentals for a long time.

One way to do this is with tenant placement. Today, we'll help you out by discussing a few strategic tenant placement strategies. Keep reading, and you'll have qualified tenants that ensure you're always receiving rental income.

Tenant Placement Explained

Tenant placement involves proactively seeking out qualified tenants for your rentals. It takes a comprehensive approach to marketing your rental. Following that, it identifies the best candidates and performs background checks to ensure they'll be a good fit for your property.

Many landlords don't have the time or expertise to handle these tasks alone. It's for this reason that tenant placement services and rental property management exist. These services help landlords maximize their rental income.

Marketing Your Rental

Strategic tenant placement always starts with marketing. How you showcase your property to potential renters plays a major role in the applicants you get. Rental property marketing involves taking professional photos of the unit and writing detailed listings.

These listings will then go on the top rental websites and be promoted on social media to attract interested tenants. By posting descriptive listings, you can attract the right tenants and eliminate poor ones from the pool of applicants.

Performing Tenant Screening

If you market your rental well, you'll have a pool of applicants. From there, you must screen them to get the cream of the crop. To do this, you need to perform tenant background checks to look into their financial and criminal history. It's also important to speak to applicants' previous landlords.

Here's where it helps to hire a professional who understands Utah's fair housing laws. These laws ensure that tenants of all backgrounds are treated fairly when renting. Rental property management will have thorough screening practices that don't discriminate against perfectly qualified renters.

Keeping Happy Tenants

Once you've narrowed the applicant pool down to a few of the best options, it's your responsibility to provide a good tenant experience. Retaining tenants you like prevents you from having to find new ones and deal with vacancies.

To provide a good tenant experience, make sure you perform regular maintenance. Respond to tenant requests for repairs and give them the privacy and quiet enjoyment that they're entitled to.

How Rental Property Management Can Help

Not every landlord has the time to deal with strategic tenant placement strategies. Hiring property management to market, screen, and deal with tenants can take a huge responsibility off of your plate.

At Utah Property Solutions, we offer comprehensive property management services for tenants and landlords in Salt Lake City. From tenant placement to rent collection, we can deal with all aspects of running your rental property. Contact us today to learn more about our services and how we can help you maximize your rental.