As a landlord, it’s your job to screen potential tenants carefully. After all, you want to make sure you’re renting to someone who will take good care of your property and pay rent on time. Not sure where to start? Here are five tips to help you choose the right tenants for your rental property.
- Know the law. Landlords must know local laws when screening tenants. This includes but is not limited to laws relating to discrimination, credit checks, and criminal background checks. Familiarize yourself with the relevant regulations before you start screening tenants.
- Set clear criteria. Before you start screening tenants, decide what criteria are most important to you. For example, do you prefer long-term renters or are you willing to consider short-term leases? What about pets? Once you’ve decided on your criteria, stick to it.
- Conduct a thorough background check. A background check will help you learn more about a potential tenant’s rental history, employment situation, and criminal record (if any). Be sure to run a credit check as well; this will give you an idea of how likely the tenant is to pay rent on time.
- Ask for references. In addition to running a background check, be sure to ask each potential tenant for references from previous landlords or employers. These references can give you valuable insights into a person’s character and habits.
- Trust your gut. In the end, it’s important to go with your gut when choosing tenants. If something doesn’t feel right about a potential tenant, it’s probably best to move on to someone else.
Choosing the right tenants is essential if you want your rental property business to be successful. By following these tips, you can help ensure that you’re renting to someone who will take good care of your property and pay rent on time.