Finding a tenant is basically a challenging task. Although there are no hard and fast rules here are some tips that help to find the best tenants for your rental property:
Follow the Rules and Regulations
First, try to follow all the rules regarding rental property and tenants and make a fair deal. There are different laws according to different states so try to follow these rules. One more thing, don’t discriminate your future tenant based on race, religion, sex, or any disability because it is against the law.
Choose the one having Financial Stability
Try to choose the financially stable tenants because if the tenant is financially stable then will pay your bills and rent on time. You can check the finances with two different ways:
- Verify the income of the tenants by their employer. The income of the tenant should be three times the required rent.
- Check the income to debt ratio.
- Check the history of paying the bills on time.
Check Criminal Background
Complete a criminal background check for the safety measures. Doing a criminal check, yourself can be a very long process. It may be best to hire a reputable tenant screening company to make this patterned for you.
Check Rental history of Applicant
Try to investigate tenant’s rental history by talking to the applicant’s previous landlord like:
- History of paying the rent on time
- Reason for moving to another place
- How did they keep their apartment?
- Did they cause any damage?
- What was their behaviour with the neighbour?
- Did they complain often?
If the applicant is first time renter or a student, then there will be no rental history.
Choose a Small Family
Choose a small family for your rental property because more the number of people in an apartment then greater will be the noise and repair tensions. Although there are different guidelines while choosing but sometimes judging by your own is the best tactic to find the tenant.
Professional Advice is always helpful
There is also another good option. You can hire the services of a professional property sourcing company for finding best tenant for your rental property because they have a wide knowledge of an area and do their research about your property and similar properties in the area. All this process is very time consuming and stressful so be relaxed and take professional advice for best output. This will help you a lot for finding best tenants. They also handle all your financial and legal matters very efficiently.