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Before you look for renters for your Richmond Hill investment property, you need to choose an accurate rent price. If you set a rental price that’s too high, prospective applicants will be discouraged from renting your home. If the rental price is too low, you might lose income. To optimize your rental income, there are certain factors to take note of. Compare Your Rental Price to Similar Units One of the best ways to set the right rent for your property is to do a comparison based on the competition in your area, the number of rooms, property …

If your goal is to earn a consistent rental income, you need to focus on attracting long-term renters. With long-term tenants, you’ll reduce your maintenance and repair costs and rest assured your rental space is being treated with care. Our experienced property managers at Drew Doheny Property Management Team will share tips to encourage your tenants to renew their leases. Welcome Your Renters Warmly To start on the right foot with your tenants, practice courtesy when they move in. Greet them during the first day of move-in and give them a hel…

To ensure your success as a Richmond Hill landlord, it’s important to have a comprehensive screening process. An effective screening process will help ensure that you find reliable and trustworthy tenants for your rental property. Advertising your property and looking for new tenants can be stressful, especially in Richmond Hill’s competitive rental market. However, this guide to effective tenant screening will help alleviate your stress and land the right tenants for your property! Keep reading to learn how to make a great tenant screening pro…

Vacancies are every landlord’s worst nightmare. With a vacant unit, you won’t be able to maximize your rental income. For one, you won’t have any income to expect at the end of the month. Second, you’ll also have to dig deeper into your pockets to pay for other expenses such as property taxes and mortgage payments. To maximize your rental income, you’ll need to possess great marketing skills. Great marketing skills will help you expose your property to a wider pool of prospective tenants. In turn, you’ll maximize your chances of landing a high-…

Extended vacancies are bad for your rental and your ROI. That’s why keeping your investment property in great shape is important! If you’re having trouble finding renters, it may be wise to make strategic upgrades to your property! There are many ways to make a property more attractive to tenants, from little adjustments like upgrading appliances to more substantial actions like replacing the floors. However, before you make any changes to your property, be sure to consider which upgrades will boost your property’s value the most while still at…