Introductions
Finding the best tenant for your rental is Landladies LOVE Their Tenants like anything else that involves humans, part science and part art.
The scientific part is easy. Have tenants fill out a simple application and attach a copy of a driver’s license or state ID and proof of income (pay stubs, etc.). Using this data, you can confirm a few important details:
- The tenant is who he or she reports to be. You don’t want to unwittingly rent to someone posing as a law-abiding citizen BUT is, in fact, a hardened criminal.
- Utilizing free websites in your state/county/city, you can confirm that she or he is not a criminal or sex offender. You can also confirm whether or not the tenant has been evicted in the past through public court records. My small town has a municipal court website that provides public access. My county sheriff’s office provides sex offender information. I bookmark the websites, and application confirmation is a simple process. I also ask questions on my application where the tenant is asked point-blank about sex offender, criminal, and eviction status. If the boxes are marked yes, you might even be able to save yourself the web search time! Also, if the tenant lies on the form and you have to evict him/her later, the documentation is helpful for your case.
- If desired, you can do a credit check. I do not do this. In my opinion, tenants often have poor credit (this is often why they aren’t buying a home themselves but, in fact, renting from you). And I see no correlation between poor credit and tenant success. My best tenants often have deplorable credit. As long as tenants know that rent must be paid on time every month, things work well.
- By confirming income, you ensure that tenants have at least a 3:1 ratio—three times the rent as full income. For example, if your rent is $500 per month, tenant income should be at least $1500.
Now the tricky part from Landlady
Now, the tricky part is the art of reading a person. Sometimes, a tenant looks awesome on paper. I once had a pharmacist rent a duplex who appeared to be the dream tenant—gainfully employed, with no evictions and no criminal. However, that tenant trashed the duplex, painted all the hardwood floors, and was mentally unstable. If I had read the warning signs upfront, I would have saved myself from the aftermath. So, the main thing is to look for red flags.
Here some points:
- Look for personality quirks. If a tenant calls over and over and proves to be annoying upfront, be assure that the same person will call you over and over once you move in. In fact, the tenant will expect even more response from you because he/she is paying monthly rent. Listen to the voice inside of you that says, “This person is crazy.” If you deal well with crazies, by all means, take him/her on. But in my experience, crazy people utilize 90% of your time/energy/resources.
- Look for cleanliness. You have the tenant’s current address on your application, so drive by. I have saved myself several times with this tip. If their current location is trash, that’s a serious red flag. Also, check out their vehicles and the clothing worn at the apartment showing. If the prospective tenant doesn’t bathe and his/her truck is trash, just imagine how he/she will treat your property.
- Look tenants up on social media. You can learn a lot from a simple Google search. You might find newspaper articles from other towns that show a pattern of bad behavior. You might see pictures that show drug use or a tenant with 8 dogs that were not listing on the application. Conversely, you might see tenants who appear to be happy, well-adjusted, and living in lovely interiors.
Best tenant for your rental
Selecting the right tenant for your rental property is key to a successful and hassle-free leasing operation. You want a tenant that can be relied upon to pay rent on time and treat your property as if it were their own. Speak to former landlords and perform background checks on credit history and employment to ensure you get a good enough renter. Proper tenant screening is less costly than repairs and evictions. In addition, communication will help you stay on the same page with your tenants and develop solid lease agreements at intake so that landlord-tenant relations are manage beforehand. Not only does having a great tenant mean that the property is being looks after, but it also means following community guidelines, which can speed up and make property management more efficient.
Can a tenant run a business from a rental property
It is essential that you choose your tenant wisely because a wrong choice can contribute to the headache of being on edge and put extra financial pressure. A good tenant pays the rent on time, takes care of the property as if it were their own, and abides by all terms in the lease. A significant factor to consider is if the tenant will use the leasehold property for business operations. As a landlord, that is something you should reflect on if home-based businesses are accepted; however, ensure it in your lease and confirm the zoning laws. Work must not breach property regulations or create heavy use in the building. How do I choose the right tenant for my rental? I need background checks and effective communication.
Conclusion from landlady LOVE Their Tenants
Your properties are only as good as the tenants living there. By utilizing an application and listening to yourself, you can find the best tenant for your property. In my business, we love our tenants because they pay our bills and take care of our properties. Choosing wisely will help you have the same mutual relationship.
Reference :
Wendy Myers, AsktheLandlady (2014, July 24). Choosy Landladies LOVE Their Tenants. https://askthelandlady.blogspot.com/2014/07/