Well, last night I signed 5 students up to live in my first rental property! Now with it fully rented, I can focus in on the second home (also with 5-bedrooms). Unlike years past, this lease signing means I will not have to scramble to find renters for the summer. Previously we’ve only been able to secure 8-month leases, but this is a 12-monther (with a slight discount over the summer months), so I’m free and clear!
The nice thing is that two of the tenants in the 1st property might be interested in switching over to the other one, so then I would only be looking to fill up 3 bedrooms! Sweet!
I think the main benefit to tenants is that were are quite flexible. We offer a summer discount, we include all utilities, and our rent is actually fairly low or near average. Plus, these two houses have free laundry, which is a big plus.
In my next post, I’ll show you my plan for using word of mouth to attract tenants faster, and how I hope to encourage present tenants to stick around another year.