Landlord’s guide to identify a good tenant
FINDING A GOOD TENANT IS KEY TO RENTAL INVESTMENT
Hanging Keys" alt="Landlord’s guide to identify a good tenant - Hanging Keys" />
Being a landlord, one would definitely want to keep a reliable and honest tenant who can provide steady flow of income in the form of rents on time with no unwanted troubles and hassles.
“It’s not the load that breaks you down, it’s the way you carry it.” – C.S. Lewis
Though it’s a tough and challenging job to spot good tenants who will take care of your place like their own but adopting this smart approach in selecting renters can really help you –
There are various sites loaded with scammers who fool the potential tenants and mint money from them by displaying luxurious apartments that actually don’t exist so you must know where to advertise your property with a strategic marketing policy for the same. Include some good pictures of your house with basic details like location, number of rooms, special features if any and approx. rent amount. Make sure your place looks clean with no mess around as Ill-maintained house with broken windows and chipped walls gives a bad impression.
It’s advisable to collect all the personal information about the potential tenant beforehand so that you can smoothly perform background checks. Personal information must include applicant’s name, previous addresses, family details, number of pets and their breeds and at least 2-3 references. A small talk with given references will help you develop a better picture of what your tenant is like and will reduce the risk of fraud applicants. If the applicant hesitates in giving you the references then you should look for other tenants.
You must surely have a face-to-face conversation with the tenant to discuss all the terms and conditions of the lease before sealing the deal to avoid any sort of confusion and inconvenience. Seeing your prospective renter in person can surely give you some important indicators on whether they will be decent tenants or fuss-creators. A respectful and honest tenant is one who listens to your instructions properly and talks in a courteous manner.
Once they are settled in your property, landlord surely expects timely rent deposits and quick replies over any issue so pay attention on how an applicant communicates and responds throughout the application process to know whether they are active communicators or nonresponsive ones.
Make you job, as landlord much easier by spotting a good and trouble-free tenant that will keep your property in good condition.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.