San Francisco Bay Residential Property Management: How to Find Tenants

San Francisco Bay Residential Property Management: How to Find Tenants

If you're a landlord in the San Francisco Bay Area seeking reliable, long-term tenants, you might be struggling right now. After all, Bay Area rents have seen dramatic declines across the board this year, with all areas and property types experiencing a crash in demand.

While this problem is not unique to the Bay Area, the region is certainly one of the worst affected in the US. Here are some tips from a leading San Francisco Bay residential property management company on finding tenants in the Bay Area during this historic downturn.

Be Flexible

When it comes to drawing up your lease agreement, a little bit of flexibility can go a long way toward decreasing tenant churn and upping your occupancy rate.

Instead of offering rigid lease terms, tell them you're willing to negotiate. Tenants don't want to sign the dotted line for a three-year lease if they don't know if they will even like the place.

Consider offering a "trial period" with a break clause within the first few months. This will help to build trust with your tenants and show them you are willing to put their needs first.

Sweeten the Deal

If your rental property is struggling to attract the right tenants, it's time to consider throwing in a few sweeteners. Especially in a market like San Francisco, where demand is lower than it has been at any point in the past decade, you'll need to go the extra mile to stand out.

You could offer low-effort sweeteners such as free parking or the first month free. You could throw in kitchen appliances or even go all-out with

sweeteners, such as vacation vouchers and access to neighborhood amenities. The upfront cost of these sweeteners can easily pale in comparison to the long-term rental yields you stand to gain.

Invest in Your Listing

In a crowded market, those blurry photos of messy living rooms just won't cut it anymore.

You'll need to invest in high-quality photos, stellar marketing, and beautiful staging to unlock the potential of your property and help your prospective tenants truly see themselves living there.

Consider hiring a professional real estate photographer, or contact a San Francisco Bay Property Management Company to hook you up with an expert who will make your property look like a truly gorgeous show home.

Target Strategically

Tenant screening remains a crucial step in the process, no matter how desperate you are.

It's all about quality over quantity. You want to attract tenants who will stick to their lease agreement, respect the property, and pay the rent on time and in full.

If you don't know how to draw up a screening process that complies with California law, remember that local property management companies in San Franciso Bay can do this on your behalf.

Speak with San Francisco Bay Residential Property Management Experts Today

Finding the right tenants in a tough market is stressful, not least because failure to do so can turn your investment property into a costly burden.

With the right combination of flexibility, proactive targeting, and screening, you can find the tenants you deserve.

For all of this and more, Kenny Realty San Francisco Bay residential property management is here to help. Call us to find out exactly what we can do for you.

Blog Home