How to Choose the Right Tenant
Dec 22nd, 2017
You have invested the time and effort to turn your vacation house into a comfortable home. You spent wonderful moments there and dearly love it. Now, that you have decided to rent it out, it is time to soon hand over the keys to a stranger and hope they turn out to be good tenants. As a rental property management services provider, we have learnt that no tenant is equal. While some prove to be good, there are those who can make your life a living nightmare. Hence, taking time to choose the right tenant is of utmost importance. But, how do you identify the right tenant?
We give you these tips to help you choose a tenant that will make your life easy.
Conduct a Credit Check
One of the biggest hassles that come with a bad tenant is their inability to pay on time. Now, no landlord likes the daunting task of following up to get the payment. Hence, running a credit check on the tenant is vital. You want a tenant who is financially responsible. Verify their income, bank statements, credit history, conduct a reference check by calling their employer, and check for any debts. Examining the tenant’s financial history helps you judge their ability to pay and pick the right one.
Run a Rental History Check
Rental history is not only about conducting a reference check with previous landlords about the tenant’s ability to pay. It includes examining every factor related to renting a house. Call up at least two of their previous landlords. Ask questions like did they pay the rent on time? What was the reason for the move? Did they keep the place clean? Did they serve the notice period? How was their behavior to the neighbors? Getting this information will save you from a problematic tenant.
Consider a Face to Face Meet
A face to face meeting reveals a lot about people and helps you make an informed choice. Ask them any doubts you have and check for any concerning issues. It may be possible that the answers you received while reference checking may vary from what the tenant says. This may and may not be a warning sign. Clarify every doubt and then decide upon renting your home to them.
Employee Verification
You can also conduct employee verification or get an agency to do so. Employee verification will help you not only certify his past employment but also check for any criminal records. Ultimately, employee verification checks that this person is telling you the truth.
Utilize Agency Services
There is no doubt that finding a tenant and completing all formalities can get taxing at times. One has to be cautious and think twice before signing the dotted line. Rental management service providers can take away the stress of finding a tenant for you. Since they deal in the business regularly, their knowledge and expertise will help you get the right tenant. Plus, you need not worry about the paperwork, as all of that will be handled by them. Utilizing the services of a reliable rental property management services provider will ensure you are free of the hassles of renting the property.
While all of the above-mentioned points help, your instincts are equally important. Trust it. If something feels fishy, let go and find another tenant. Taking the services of a rental property management services provider will be beneficial in reducing your load of finding a good tenant.