Being a landlord in Newport Beach, CA is a prosperous way to earn a living. Not only could you make an average annual salary of $58,546, but you'll also be able to do this passively.
The key is to learn the essential tips and tricks that will attract the best quality renters and keep your property occupied throughout the year. Although this is not always an easy task, there are tried and tested techniques that can help you maximize your profits.
Read on to learn how to prepare homes for rent successfully.
Create Detailed Rental Property Listings
Your rental listing needs to instantly grab potential tenants' attention and encourage them to book a viewing. This means you need to use high-quality images, and it's worth investing in professional photography services to highlight the best aspects of your home.
It's also crucial to tell people what makes your property a great place to live. Consider factors such as the size of the rooms, recent upgrades to your home, and its proximity to local amenities.
Screen Potential Tenants
When screening tenants, it's important not to skip any steps. This could lead to you being stuck in a contract with tenants who treat your property poorly and can't pay their rent.
If you're unsure how to screen tenants or don't have the time, a property manager can handle this on your behalf. You can then have the peace of mind that suitable tenants will be living in your rental home.
Maintain Your Homes for Rent
Having an inspection and maintenance schedule will help you keep your property in excellent condition. By identifying issues early, you can carry out repairs and prevent problems from getting worse and becoming more expensive to fix.
As well as keeping your costs down, your tenants will appreciate this proactive approach. When your tenants are happy and know they are living in a well-kept home, they are also more likely to renew their lease. This means you can keep your home occupied all year round and generate a lucrative income.
Invest in Rental Management Technology
The right technology can help you manage your property efficiently. For example, software can remind you when it's time to carry out an inspection or renew your rental insurance. You can also automate sending out rent collection reminders to prompt tenants to pay on time each month.
This can take away much of the stress that can come with managing a property, allowing you to focus on other tasks.
PMI First Choice Can Help You
PMI First Choice has over 19 years of industry experience, and we set ourselves apart by taking a personal approach and considering each client's individual needs. This allows us to build strong relationships and grow your profits on a solid foundation.
Our team provides full-service property management, allowing you to sit back and leave the heavy lifting to us. Whether it's finding new tenants for your homes for rent, dealing with maintenance issues, or collecting payments, we can help.
To start earning passive income as a Newport Beach, CA landlord, contact our expert team today.
