12 Steps to Successfully Manage Your Rental Home

Who Am I?

My name is Tanya Jensen, I am a Property Manager and owner of Envy Property Management in South Ogden, Utah. At EPM we manage single-family homes, commercial, and multi-family up to small apartments in Davis and Weber Counties. I am a fellow DIY Landlord and I grew up in a small town in southeast Idaho, helping my grandparents and parents manage their duplexes since I was very young. I’ve been managing my own investment properties for over 15 years and I’m currently invested in over 130 doors in several states. I am obsessed with processes, procedures, and checklists.

Who Are You?

• You are 1 of thousands of Landlords who own a rental home(s). 
• You are an investor. 
• You likely have another job or interests you need to budget time for. 
• You might be overwhelmed with all the tasks involved with proper rental management, or even unaware of all the tasks that need to be done. 
• You most likely have received little if any training on how to efficiently manage a rental property.

Step 1 - PRESENTATION

Presentation of your rental home begins with rehab, tenants want a clean presentable home to live in!

Present a Property That is at Least Slightly Above Average, consider rehabbing the following:

• Paint
• Flooring
• Lights
• Countertops
• Appliances
• Fixtures
• Bathroom vanity
• Shower/Tub
• Yards/Landscaping

3 Reasons Why Rehab Matters:

1. For every $1 invested in rehab, you’ll get back $1.50-$2.00 in increased rents
2. You will add value back into your property
3. You will attract a higher quality tenant

*A Great Home Attracts a Great Tenant*

Adding Value Back With Rehab:

We recently remodeled a 2 bed, 1 bath duplex built in 1963:

• Condition: Original cabinets, tile flooring
• Project: Kitchen Remodel, Bathroom Remodel, New Flooring, New Paint, New Plumbing Fixtures, New Exterior Doors, New Light Fixtures, Added a Dishwasher
• Rent Before Remodel: $650 per unit
• Rent After Remodel: $1,060 per unit (63% increase)
• Additional $9,840 in rent per year 

Presentation of Your Property During Tenant Move-in:

• Use a Tenant Move-in Checklist
  • We use a checklist with over 25 Items Including items such as:
    • Rekeying of Locks
    • Checking all appliances
    • Replacing burned out lightbulbs
    • If you are interested in ours, email tanya@envypm.com and we will email you a free copy. 
    • Include a Welcome Bag!

Step 2 - PROMOTE IT WELL

• Use professional photographs
• Write detailed descriptions
• Put a sign in the yard (if possible)
• Put an ad on Zillow
• Put it on Facebook Marketplace
• Put it on Craigslist
• Put it on Instagram
• Ask current tenants for referrals

Step 3 - PERSEVERANCE

It typically takes 7-14 showings to rent a home. If you have had over 20 showings and no applications, you likely have a marketing problem, a pricing problem, or a presentation problem.

*These three areas are the foundation of your rental business.*