When screening candidates for your Las Vegas rental properties you no doubt check their references and call their employers. You want to have the best experience, with this particular renter, as possible. Why wouldn’t the potential renter do the same thing for you? They most likely are going to talk to previous tenants or neighbors about how the investment property is managed and find out about the landlord. So how do you make sure that the perfect renter isn’t going to pass you up? The answer is two simple character traits, honesty and transparency.
The first and most basic thing that a quality renter looks for is honesty. They want to know that you will honor your contract and follow through on what you say. An honest person is a good person. People can look over flaws in the property or in the location if they know they are dealing with an honest person. Honest landlord don’t nickel and dime their tenants with ridiculous fee systems and especially don’t cheat people out of their deposit over trivial issues, so keep that in mind before you earn yourself a reputation that is hard to get rid of.
The second thing potential tenants look for is transparency. It’s hard for you or the tenants to have a wonderful renting experience if the conditions that make the perfect experience are confusing or nonexistent. To resolve this each contract you should contain, in addition to the necessary legalese to save your bacon if something untoward happens, a bulleted and bolded, or otherwise clear, set of conditions or statements that will make the renting experience smooth and easy for both parties. Some things to keep in mind are the exact conditions upon which a full refund of the deposit will be given, or who is responsible to pay for repairs, or if you the owner would be willing to pay for improvements done by the tenant.
These two simple virtues will help make your investment property a successful venture monetarily and not make you lose unnecessary sleep or hair. So remember, be honest and transparent about what is expected.