How to Choose the Perfect Tenant for Your Rental Property

the perfect tenant

Are you looking for ways to ensure you find the right tenant for your new building?

Renting is a great way to earn extra cash. However, you want to make sure your renter is trustworthy and dependable.

This article will give you 5 tips on choosing the perfect tenant.

1. Post Your Property Online

The first step in finding a good tenant is creating an online listing for your property.

You need to make your listing as forthcoming as possible. Be sure to clearly state how much rent and utilities will be.

Tell people what the laundry and parking situations are. The more honest you are about your property the more time you will end up saving.

You won’t get dozens of emails from people who need more information. You’ll only get emails from people who are serious about what you have to offer.

2. Set Standards

If you want a good tenant, you need to set standards.

You should have an income requirement for your tenants. For instance, you can make it a requirement that your tenant must earn three times what the pay in rent.

This will ensure you aren’t renting to someone who can’t afford the place.

3. Hold Showings

Showing your home or apartment before renting it is a way to ensure your tenant knows what to expect.

Be wary of anyone who wants to rent your property without seeing it.

At the showing, you can get a sense for what kind of person your prospective tenant is. You can tell if they’re friendly and trustworthy by how they act during the showing and what questions they ask.

4. Conduct a Background Check

If someone is going to be living in your home for a long time, it’s important you know things about them.

You don’t want to rent to just anyone. Conduct a background check to find out if they have any past felonies or misdemeanors that might make you not want to rent to them.

It’s also a good idea to ask for a reference letter from their previous landlord. The previous landlord can tell you if they paid rent on time and how they behaved as a tenant.

5. Don’t Take Down the Listing Right Away

Even if you think you’ve found the perfect tenant, don’t take down the listing right away.

It’s common for tenants to get cold feet before signing a lease. Leave the listing up until after a week after the lease is signed to make sure the tenant you found is sticking.

Thank everyone else for their interest, you never know who might be looking when your space is available again.

Follow These Steps to Find the Perfect Tenant

These steps will lead you to the perfect tenant for your home or apartment.

The right tenant is one who cares for your property and pays rent on time, every time.

Remember to be straightforward with your property listing and to spell out everything clearly in your lease.

Have questions for us? Want to tell us about your experience leasing your home or apartment? Please contact us here.

Unlocking the Mysterious Lease: Your Guide to Apartment Utilities

apartment utilities

Given that more people rent their dwelling now than any other time in the last 50 years, landlords hold an immense power in the current economy.

From added fees, taxes, to apartment utilities, landlords often attempt to pass their costs to their tenants to save money and increase profits. However, this isn’t always legal and often is unethical, especially if it deceives their tenants from paying what they assumed they would be paying.

Here are three questions to ask yourself if your bill seems higher than it should be.

1. Did You Agree to a Fixed Rate?

Your lease should have laid out exactly how much you’ll be paying every single month. Even the most stripped down lease will tell you what you’ve agreed to pay and under what circumstances.

If you got your rent bill and see all kinds of charges and fees, you might have to check whether or not this is legal in your region. Anyone who signs a lease agreeing to pay a fixed rate is only required to pay that rate. Landlords who ask for more are in violation of the law.

Pay the fixed rate that you agreed to. If you have time, seek out a lawyer who can help you. Ask around and look on message boards to see if this is standard or not.

2. What’s the Breakdown?

Check out the actual breakdown of your fees. In some cities and regions, tenants pay water bills on top of cable fees, gas bills, and electricity. In other regions, it’s standards to roll them all into the cost of rent.

New York City rents are often called some of the most expensive in the U.S. However, in most NYC apartments, heat and hot water are required to be provided by landlords no matter what. There are standard temperature requirements and calendar dates that they have to have heat running during.

Depending on where you live, those utilities should be rolled into your rent, not added on top of.

3. What’s Legally Required for Owners to Pay?

See what is legally required for your landlord to pay. If you’re being charged for trash fees, your landlord may be violating the law. Charging their carefully chosen tenants for something that they should deal with is unethical and should be reported.

Call 311 or your local tenant protection services if your landlord violates the law. They must be held accountable. You could be a hero to many of your neighbors for blowing the whistle on your landlord.

Never assume that you’re the only one being hit by a certain fee or an added cost. It’s likely that other people are dealing with it too.

Apartment Utilities Might Not Be Your Problem

In some areas of the country, apartment utilities are the domain of the owner of the dwelling. Rather than having tenants pay, cities and townships hold owners responsible for the costs incurred. If your rent bill seems higher than it should be, ask questions.

If you’re considering turning your home into an Airbnb, check out this guide to ensure you don’t become a bad landlord yourself.