To find a St. Louis tenant quickly, you’ll need a strategic marketing plan and an automated tenant screening system that will allow you to identify and place a good resident in a matter of weeks. Long vacancy times will drain your ROI and stall your rental income. Acting quickly is important, but you don’t want to take any shortcuts.
A lease agreement is legally binding, requiring both the landlord and the tenant to follow the terms of the contract. Typically, the length of a lease is one year. Tenants promise to live in the property and pay the rent for that full year, and landlords promise to provide a habitable, well-maintained home at a consistent rental rate for that period.
You know there’s a risk involved in owning residential real estate and renting investment properties out to tenants. It’s rare that this happens, but you might end up with thousands of dollars in damage left behind by a tenant who seemed reasonable and responsible.
If you’re wondering whether it’s time to hire a property manager for your St. Louis rental property, consider some of these points.
For some St. Louis rental property owners, the turnover process between tenants can take as little as 24 hours. For others, there are weeks and even months of repairs and renovations necessary in order to return the property to rent-ready condition.