Finding a good tenant is not easy. All the tenants are not the same, some are good, or some are bad. Always choose someone with compatible qualities that you can trust. As a landlord or real estate agent, you will always want to protect your investment and will never bear any damage to your rental property. It can lead to huge expenses.
Moreover, many tenants don’t pay the monthly rent, and you may end up having to evict them. They are often involved in criminal behavior that can threaten the safety of you and your neighbors. Renting your property to unqualified and untrusted tenants may cause costly and time-consuming problems. So it is best to avoid renting to them.
Here are some factors you must consider while finding a great tenant for your rental property. Follow the given tips that will help you to make the best choice.
Check Criminal Background
As a property owner, it is your responsibility to keep yourself safe, your family, and neighbors. Many landlords believe that they may rely on their guts when choosing the good tenants for the rental property. But before selecting tenants, check their previous records through criminal information.
If they have any criminal record, even minor offenses, you will get to know them. You just need to know the tenant’s name and date of birth to check the criminal records. Also, make sure that you check their valid ID card to verify them and gather some basic information about them:
- Names of all the rentals
- Rentals contact information
- Moving-out reason
- Smoker or criminal status
If you want to make the right leasing decision for your rental property, then consider the following questions while selecting tenants based on their criminal records:
- Was the individual convicted, and what was the offense?
- When did the crime occur?
- Does the nature of the crime put other tenants or neighbors at risk?
- Can the applicant be able to pay rent?
- How serious was the crime?
Choose the Tenants with Good Credit
Are you looking for tenants who are financially responsible? Those who pay their bills on time have a greater chance that they will pay their rent on time. These tenants even care about your rental property. Sometimes property owners ask the tenants to pay the credit check fee.
You can check the tenant’s finances by verifying their income. You can also ask them for copies of their pay stub. Ask them to provide a history of paying their bills on time. Those tenants who can’t pay the whole rent at a time can biweekly pay you.
Check the Tenant’s Rental History
To check the tenant’s rental history, you should talk to at least two to three tenants’ previous landlords. If the applicant were a problem tenant, the current landlord would get to know about all the applicants, whether they were good tenants or not. You can ask the following questions from the previous landlords about the applicants:
- Did the tenant pay the rent on time?
- What were the reasons for the tenants moving out of the house?
- How much do they keep the property in good condition?
- Were they cleaning the rental property or not?
- Did they cause any wear and tear to the apartment?
- Was their behavior good to the neighbors?
Choose a tenant who has a Stable Income.
Property owners need proof of stable income of tenants to feel confident that their tenants can pay rent on time every month. You can check the applicant’s employment history. Do they switch jobs often or not? If they change their jobs often, then there is a greater chance that you will soon have a vacancy on your hands again.
If they do not even have a consistent job, then how can you expect that they can afford your apartment for more than three to four months. As a result, you will search for new tenants for the rental property from scratch.
Respectful Behavior of Tenants
Finding tenants who act respectfully to the property owner and the neighbors will help to ensure the longest possible stay. A good tenant will fulfill all their responsibilities while living in your rental house. They even pay rent on time, follow all the lease terms, refrain from causing problems with neighbors, and always communicate gently.
Here are a few tips or tricks that will help you determine whether you will have a polite or smooth landlord-tenant relationship with your application or not:
- Are they respectful in their interactions?
- Do they arrive on time for property tours?
- Do they provide authentic or appropriate documentation or not?
- Were they respectful to the previous landlord or tenants?
Good communication is the key to effective and good landlord-tenant relationships. You can check their communication style by asking yourself these questions:
- Do they listen to everything attentively?
- Quickly respond to the questions or not?
- Do they pay attention to each detail?
- Do they answer your every question or behave like a rude person?
As a landlord, you also communicate with your tenants respectfully and openly so your tenants can’t hesitate to talk with you.
By following the above tricks, you can find a good tenant for your rental property. But keep one thing in your mind whether you are renting out your house or any investment property. Insurance of a rental property is an essential safeguard against the financial risk of the tenants living in your home.