How To Get Good Tenants For Your Apartment
As a landlord you need to protect your investment. You may not need your apartment to remain vacant for a long period of time because this will damage your profit potential. Due to this you can be tempted to rent the property quickly without proper checkup of the quality of the tenants.
Renting your property to the unworthy tenants may cause you a lot.
Learning how to find good tenants can be very difficult and stressful especially for the new landlord with little experience. You need to know that there are good and bad tenants. There are some factors that guide you on choosing worthy tenants for your property or your rentals;
Choose a tenant who is stable
On their application form, look the history of tenant's employment. Do the move or switch job time to time. If they move often, be sure they pattern is likely to continue and you will soon have a vacancy on your hands again. Also, if he or she is not stable be sure the will problems in paying rent on time.
Trust your instincts
Your instincts are the best judge of character. You may feel that there is wrong with your tenant who otherwise look good on paper, later to find that the tenant has been using someone else's identity to apply for the apartment. It's good to trust your screening but never ignore your instincts.
Look at the tenant's rental history
Here you need to find the history of the tenant. Did the tenant pay their rent on time? What was the reason for move from previous apartment he or she was living? Or he or she failed to pay rent or Break the landlord rules. Did the tenant give 30-day notice prior to moving? Those are some the question you need to find their answers before letting someone to your apartment.
Choose a tenant with good credit
Look a tenant who is financially responsible. If they are responsible with paying their bills, there is a strong chance they will pay their rent on time and take care your apartment. You can do this by calling their employer directly to confirm their employment, length of employment, attendance records and monthly earnings.
Follow the law
Landlords must treat all their tenant equally and with equal respect. The prevent discrimination, states that as landlord you are not supposed to discriminate your tenants in terms of class, race, color, national origin, religion disabilities or sex.
Use a lease agreement
Lease set the terms and conditions that the tenants living in your house should adhere to. Include facts like who live there, when rent is due, penalties for late rent and so on. A good lease spells out the policies and basis for eviction.
Require renter’s insurance
During the application process, before your potential tenants sign the lease agreement let them know you will require that they show proof of renter’s insurance on the move in date. Renters insurance will cover the cost of the tenant’s belongings as well as damage they could cause to your house.