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Keep your properties full. While it may sound overly simplified, this is the most obvious method for ensuring you’ve got rent money coming in each month to cover your property mortgage payments. Don’t allow yourself to get slack on advertising for new tenants. And don’t put off screening applicants or filling your properties because you get busy or overworked. Recognize filling your vacancies as a major aspect of your REI business success and deal with it quickly and efficiently every time.
Do your best to find quality tenants. While you want to keep your properties full, finding good quality tenants is key. By “good” it means they pay their rent on time, keep the property maintained and don’t abuse the lease. By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due.
Look for longterm tenants. Don’t assume that quality tenants will necessarily be longterm ones. Some good renters may know they can’t stay over a few months at most. They may be students or working a temporary job. They may just be living in an area waiting to move or retire somewhere else. Whatever the situation, opt for longterm renters when the choice is available. Doing so will make filling a vacancy at least a more infrequent possibility.
Keep the property well maintained. If you want good tenants, longterm tenants and tenants who pay their rent on time, do your part to keep them. Deal with maintenance issues quickly. Make repairs as necessary. Upgrade appliances or at least ensure the ones you provide are in good working order. Respond to your tenants’ calls quickly, or if you can’t be sure they know you’ll be unavailable for awhile.
Being a good landlord will go a long in way in developing lasting relationships with your tenants, which will in turn, help you keep them in your property longer. Often a tenant and landlord relationship can turn an average tenant into a great one simply because they want to keep that relationship intact.
In a tough economy, it’s important to do all you can to avoid facing the difficulty of paying the mortgage. That applies just as much to an REI professional as it does to the average renter. These simple tips can help as you work to develop lasting, longterm, rent paying tenants to keep your properties bringing in the income you need every month.
What Sellers in Roanoke, Virginia, Are Saying
We've worked with homeowners across Roanoke to sell their houses quickly and easily. Here's what some of them had to say:
Gregory Maxey is Trustworthy!
"Gregory Maxey was really kind and empathetic! Even though we were unable to come to a sale, i don't regret reaching out. Gregory Maxey is trustworthy and will work with you the best he can. If you are looking to get rid of a property I highly recommend Gregory Maxey!"
Lyndi J
Surpassed Expectations!
"Gregory Maxey and his team surpassed expectations. Just like the majority of reviews here the things that stick out to me are his professionalism, expertise and concern for what we needed. Thank you always Gregory Maxey!"
Jerome A.
Quick and Fair Deal!
"It was an absolute pleasure working with Gregory Maxey. He offered sound advice, did not rush the decision process, answered every question and offered excellent solutions. We would not hesitate to recommend his services."
Tenja Y.
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Get More Info On Options To Sell Your Home
Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.
Get Your Free Cash Offer Now!
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Facing Foreclosure? You Have Options
If you’re struggling with an inherited home, foreclosure threats, or a difficult-to-sell property, know this: you are not out of options. At Blue Ridge Property Buyers, we specialize in finding solutions where others see dead ends. Whether it’s negotiating liens, navigating complex title issues, or simply providing a fair cash offer, we’re here to help.
Don’t let foreclosure dictate your future. Reach out to us today, and let’s find the right solution for you.