Finding tenants who will take care of your property is very important to all landlords. The most important thing you can do to find the best tenants is to qualify them. You cannot do that enough. It’s essential that you do your homework if you want to ensure that you get the best possible outcome for your tenancy.
At Select 1 Realty, we start by checking an applicant’s rental history. Call and talk to the previous landlords. Find out how the tenant has behaved during the tenancy. Always check the rent rules and ask if the tenant paid rent on time and left the property in good condition. If there was a pet, find out how the pet behaved and whether there was any pet damage left behind.
Check every applicant’s credit. We believe that a good credit score shows responsibility with borrowed money. While your rent isn’t borrowed money, a credit history will tell you how people handle their money.
Remember that it’s important not to rent based on emotions. Most property owners are guilty of doing this. They will show a property to nice people and if the owner doesn’t have the means to run a credit check, they’ll make a decision based on their personal opinion of the applicant. When rent doesn’t get paid later on, those owners will typically come to us for help and they won’t understand why their tenants aren’t paying when they seemed like such nice people. Forget the emotions and rely on facts and figures instead.
Always conduct scheduled inspections at your property. If your tenants are on alert that there will be scheduled inspections throughout the year, they will know you want the property to be taken care of. As property managers, we also drive past our properties randomly to make sure everything is in good shape. We’ve found that the condition of a property on the outside is usually a reflection of how things look inside.
Move Out Guidelines
When a tenant vacates, you want to have clear instructions and move out guidelines. We like to go through them with the tenant to ensure that everyone is on the same page and understands what is expected. Communication is essential. While you can’t guarantee a positive outcome, you can try to get the best possible outcome.
Do your homework. Qualify your tenants, visit the property and communicate well, especially at move out time. These tips will encourage a positive experience for the owner and the tenant. If you have any questions or you need any help, please contact us at Select 1 Realty, and we’d be happy to tell you more.