Finding the ideal rental property can be quite an ordeal for tenants and landlords alike. There are many different factors to consider and potential problems to look out for during your search. In terms of location, look for up and coming neighborhoods with low crime rates. Safety is an especially important factor for families. Nearby schools, shopping malls, public transit, and other convenient amenities also increase the appeal of an area. Investors should check out an area’s average default, vacancy, and rental rates. The best areas are those where housing prices are low, but are projected to increase in the near future. Once you get to the rental property itself, take some time to determine the property’s condition. Water damage, mold, and pests are a turnoff to potential tenants and costly to repair. Also consider the property’s available parking and handicap accessibility. If not enough parking spaces are available or are too narrow, this can be a major point of frustration for tenants. Handicap accessibility is also important to note as disabled tenants will require accommodations.
Brian Davis is the Vice President of EZLandlordForms, a site that provides landlords and tenants with important documents like
residential leases.
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