Tips About Finding Good Tenants To Fill Your Rental Property
Finding good tenants to occupy your rental properties is one of the most crucial things you have to do as a landlord.
After finding the right renter you can make money from your investment, but when you get a tenant that is not right for your property you can have an awful experience.
Finding the right renter means that you first need to establish an application that asks the right questions. If you want to be successful in finding good tenants then the application the applicants fill out for you to look over must contain questions that will help you to determine what type of person the applicant is.
Your application should ask for the applicants name, current address, the length of time they have been at that address, and the reason why they want to move. These are all important questions that let you gain some insight into the type of person that has applied to rent your property.
Finding good tenants is not something that happens just because you are lucky. You find the right people by doing the research necessary. On your application you should ask the person to provide you with at least three character witnesses. Family members can be included in if you like, but it is best if they list people who are of no relation to them. Be sure that you actually call those character witnesses and talk to them about how they know the person, and whether they would recommend that you let the person rent your property.
Finding the right renter can be as easy as asking the applicant where they have lived for the past ten years. This will show you how frequently the tenant moves from place to place. If a person has a habit of moving frequently this can be a red flag that they are hard to get along with, or that they have trouble meeting their financial obligations. If you like an applicant, but see that they have a tendency to move frequently, then at the fact to face interview you can ask them why they move so often.
You want to know about where the person works, and how they intend to pay the rent if they do not work. Ask them how long they have been at their current job, and if they have intentions of staying with that employer.
You are within your legal rights to run a credit check on the prospective tenants. You want to know if the person applying to rent your property is likely to default on your agreement due to the way they have conducted their financial affairs in the past.
The final thing that you need to do is have a face to face interview with the applicant. You want to rent your property to people who are willing to look you in the eye when they are talking to you. If the applicant has trouble making eye contact with you it is a sign that they may have something they are ashamed of, or that they are trying to hide.
Finding the right renter for your property takes some research into the backgrounds of the people that apply to rent from you. Finding good tenants is the goal of every landlord.
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