As a landlord, it is important to know how to pick the best quality tenant for your rental property. This can be tricky, as you want to make sure that you find someone who will take care of your property and pay rent on time, but you also don’t want to rule out potentially great tenants because of one bad habit or a credit issue. In this blog post, we will discuss what landlords look for in a tenant and how to go about finding the perfect one for your property!
Here are 5 easy tips to pick the best tenant:
1. Do a background check
The most important thing to look at when screening tenants is how they have treated previous properties, as we know history is the biggest indicator of the future. You can ask for references and check their credit score, but those might not always tell the whole story. If someone has a poor history of paying rent on time or treating past properties badly, then it may be wise to pass them up for your rental. On the other hand, if someone has a good history of paying rent on time and taking care of their property, then they are more likely to be a good tenant for you. It is always best to do your research and make sure that you know as much as possible about potential tenants before making a decision.
2. Do a credit check
One of the most important things that landlords look at when screening tenants is their credit score. This will give you a good idea of how responsible they are with money and how likely they are to pay rent on time. If someone has a low credit score, it doesn’t necessarily mean that they won’t be a good tenant, but it is something to consider. If you are uncomfortable renting to someone with a low credit score, there are other ways to check their financial history. You can ask for proof of income, which will give you an idea of how much money they make each month and whether or not they will be able to afford rent. You can also ask for references from past landlords or employers, who can tell how well they have treated previous properties and how reliable they are with their work.
3. Be flexible and understanding
You should be understanding when it comes to things like credit scores and background checks. There may be extenuating circumstances that led to someone having a low credit score or a bad history with a past landlord. Perhaps they had an unexpected medical bill or their car broke down and they were unable to pay rent on time. If these things are able to be explained and there isn’t a pattern of “things happening” you may have a great potential tenant on your hands.
4. Ask questions and get to know them
One of the best ways to pick the best tenant is by getting to know them as a person. This can be done in a variety of ways, such as through an interview or by having them fill out a rental application. During this time, you can ask questions about their job, how long they have been living in their current place and how long they have been with their current employer and many other things. The more you know about someone, the better chance there is that they will be a good tenant for your rental property. Through asking questions and getting to know them as a person, you can learn how responsible they are with money or how well they take care of their living space. These things are all important when it comes to how well someone will treat your property, so make sure that you ask these questions before making a decision about who gets the lease!
5. Trust your gut
When it comes down to the final decision, you should always trust your gut. If something doesn’t feel right about a potential tenant, then there is probably a good reason for it. At the end of the day, the tenant you choose is responsible for how well your property is taken care of. If you feel like a potential tenant isn’t right for your rental, then don’t be afraid to say no. There will be other people out there who are looking for a place to live and would make great tenants, so try not to get too hung up on one person.