Just 30% of Coeur d'Alene residents are renters, but there are still fantastic opportunities to invest in rental property here.
The key to finding great renters for your Coeur d'Alene property is all in the listing. When you put effort into marketing and screening, you'll find a great tenant who will keep stress levels down and your rental property profitable.
In today's post, we'll give you some home rental tips regarding listing your home for rent in Coeur d'Alene. Keep reading, and you'll be able to rent a home in Coeur d'Alene with ease.
Prepare Your Rental Property
Before you try to find tenants in Coeur d'Alene, the first thing to do is prepare your home to become a rental property. There's a small chance your property will be move-in ready right after you sign on the dotted line.
Determine whether the property has any maintenance issues that need to be dealt with. Consider the possibility of renovations, as they can do a lot to help your bottom line. At the very least, make sure the property has a fresh coat of paint, is clean, and is as presentable as possible before listing.
Perform a Rental Valuation
Another thing you can do before listing the property is a rental valuation. This is a common tactic used by Coeur d'Alene property management services to help you charge the most sensible rental price. When you nail your rental valuation, you'll have a much easier time finding tenants.
A lot goes into valuations, which is why so many investors hire experienced property managers to help them. They'll look at the rental market, the location of the property, and the size of the property - among other things - to set a rental price that is in line with your needs, as well as the market.
Create Your Listing
Creating an attractive rental listing is essential to be able to rent a home in Coeur d'Alene. Start by writing a thorough property description that highlights all of the positive aspects of your property. If you've got new appliances, windows, or fresh landscaping, make a note of it in the listing.
You'll also need to fill the listing with plenty of professional-quality real estate photos. Your photos are what will initially attract potential renters, so spare no expense in showing your rental in the best light.
Do these two things and your listing will attract a huge number of applicants. From there, you'll need to screen them to find your perfect tenant.
Screening Tenants
Tenant screening is the most effective method for finding great tenants who keep money flowing into your rental. It involves looking into applicants' financial and personal backgrounds to determine whether they can afford rent and how they'll treat your property while they live in it.
Listing Your Home for Rent Can Be Simple
These are just a few tips for listing your home for rent in Coeur d'Alene. If you're daunted by the prospect of listing a property and screening tenants, a great property manager can help.
PMI Coeur d'Alene is the area's top property management service. We can help you find the perfect tenant for your rental home, so contact us today to find out more.
