You may find yourself as a landlord to out-of-town renters – those who only inhabit their vacation rental for a few months. A large part of your job is keeping these rentals in the same condition – or in even better condition – while they are away.
What do out-of-town renters need the most? Peace of mind. They can’t be there to make sure their rental isn’t going to get damaged. As the housing market grows, if these homes are well kept, the more these homes will increase in value. The best ways to take care of out-of-town renters in this retrospect is through the following:
– Rent-ready inspection and preparation. Do this early and efficiently.
–Comprehensive tenant screening. This can dispel any potential problems.
–Move-in, periodic, and move-out inspections published to owner portal. This creates a better relationship between you and your tenant.
–Follow tenant policies and procedures for lease compliance. Do not let anything slide.
–Access to the accounting and maintenance portal. Again, this strengthens your relationship.
–Quarterly updates on how the property is doing in the housing market. This is critical to your business.
–Establish an easy way to accept rent payments from your tenant. Practice this payment method from the get-go and address any payment problems as soon as they appear.
–Create an open communication policy with your tenant. Time differences can make things problematic so work this out with your tenant very early on the in your relationship.
Another big step you can take as a landlord to out-of-town tenants is trust. Your job is to make absolutely certain that the rental owner trusts you. A way you can maintain this trust is through surveys. A small survey with questions surrounding your performance can benefit the relationship. You can easily find out if you’re on target with your clients or completely missing the mark.