You may think it’s only the tenant who has a hard time paying the mortgage, but as a real estate investor or landlord, there may be times when it’s hard to pay the mortgage on your end as well. Spruce Home Buyers works with tenant-landlord issues and helps solve these frustrating situations.
We are Savannah GA home buyers and we would love to help with your situation. Below are some things that can be done to avoid any difficulty in paying for your mortgage every month.
Keep your properties full
While it may sound overly simplified, this is the most obvious method for ensuring you’ve got rent money coming in each month to cover your property mortgage payments. Don’t allow yourself to get slack on advertising for new tenants. And don’t put off screening applicants or filling your properties because you get busy or overworked. Recognize filling your vacancies as a major aspect of your REI business success and deal with it quickly and efficiently every time.
Do your best to find quality tenants
While you want to keep your properties full, finding good quality tenants is key. By “good” it means they pay their rent on time, keep the property maintained, and don’t abuse the lease. By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due.
Look for long-term tenants
Don’t assume that quality tenants will necessarily be long-term ones. Some good renters may know they can’t stay over a few months at most. They may be students or working a temporary job. They may just be living in an area waiting to move or retire somewhere else. Whatever the situation, opt for long-term renters when the choice is available. Doing so will make filling a vacancy at least a more infrequent possibility.
Keep the property well maintained
If you want good tenants, long-term tenants, and tenants who pay their rent on time, do your part to keep them. Deal with maintenance issues quickly. Make repairs as necessary. Upgrade appliances or at least ensure the ones you provide are in good working order. Respond to your tenants’ calls quickly, or if you can’t be sure they know you’ll be unavailable for a while.
Being a good landlord will go a long way in developing lasting relationships with your tenants, which will, in turn, help you keep them in your property longer. Often a tenant and landlord relationship can turn an average tenant into a great one simply because they want to keep that relationship intact.
Sell My House in Savannah GA
We are local Savannah GA home buyers and would love to help you find answers to any questions about your Savannah real estate, So please contact us antime at (912) 302-9800 and chat with us. We make the home selling process easy so you can sell your house in GA fast.
Often it is difficult to pay the mortgage in a tough economy. This has been seen over the past year with the covid-19 pandemic. That applies just as much to an REI professional as it does to the average renter. Please follow the simple tips because they can help as you work to develop lasting, long-term, rent-paying tenants to keep your properties bringing in the income you need every month.
If you would like to sell your house in Georgia, we can help with that. At Spruce Home Buyers, we pay cash for houses in Savannah GA. To see how much an offer from us would be for your Savannah property, reach out to us now!