How to Find Tenants: What to Look For in an Application
Did you know that there are over 114 million people currently renting in the US?
Having no tenants in your property can be a real issue due to loss of income. But, having bad tenants is far worse so it’s important to find the right people.
When you have great tenants who pay rent on time, keep the place tidy, and generally don’t cause a fuss, it makes life easy. That’s why you need to find tenants who do exactly that.
In this article, we’re going to share some tips on how to find the perfect tenants for your property.
Read on for more information.
Background Checks Are Key
Hopefully, this is something you’re already doing but if not, it’s a tactic you need to adopt.
In this day and age, it’s really easy to perform a background check and there are great tools out there to do it. Not only can you do a credit check on them, but you can also see their rental history. This gives you the chance to contact former landlords and ask about any issues they may have had.
A background check is the first thing you should do and will likely be enough to decide whether they suit your property.
Meet Them In Person
People can come across great over text messages or emails, but, if you really want to gauge who they are, then meet them first. This can be done by giving them a guided tour of the property.
Make sure the tour is in-depth and you take time at the end to have a decent chat. Try and get to know them and let them tell you why they’re a suitable tenant.
Speaking to people face to face makes it easier to find out who they are. You should be able to get a feeling rather quickly whether they’ll be a good fit or not.
You Should Look To Find a Long-Term Tenant
We don’t need to tell you that it’s more beneficial to look for a long-term tenant over short-term. Not only is it better financially, but it saves you starting this process all over again within months.
One way of gauging if they’ll be a long-term tenant is to look at their rental history. If they tend to stay in places a few years, then they’ll likely be ok.
When you meet them, ask about their job and any plans. You should also be honest and hope they’ll return the favor. If you want a tenant to stay at least 18 months, then mention it and analyze their reaction.
How To Find Tenants: Solved
We hope you have enjoyed reading our article and have learned a few new things on how to find tenants.
As you can see, there’s a variety of ways you can improve your tenant search. By adopting these strategies, you’ll hopefully find reliable, responsible tenants.
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