How to Find Good Tenants: 5 Tips for Finding Renters That Pay (on Time)
Trusting your rental property to someone else is taxing. Finding good tenants can feel impossible. How do you know who you should be letting live inside of the home you’ve purchased.
You want to know that they’re going to pay their rent on time. They need to be respectable individuals who aren’t going to cause trouble. After all, you’re entrusting your home to them.
There are several ways you can go about this. If you’ve been trying to figure out how to find good tenants, we have a list for you! Here are 5 tips for finding those great renters.
Income Should Be Sufficient
Your tenants should not be spending more than 30% of their income on rent. It should be a rule of thumb that you do not accept those who do not make enough. This is a way to safe gate your own income.
Find renters who have held a steady job. Be sure that they can prove their income. This will help both your renters as well as your own investment.
Speak With Prior Landlords
Your potential tenants should be used to providing references. One of those references should be their prior landlord. By speaking with the landlord you will have a good inclination on your potential tenant.
Find out from their previous landlord what they were like to rent to. Be sure that they are people who will respect your property. It will set your mind at ease to understand their history.
A Proper Background Check
Often times when it comes to renting, a background check is required. Be sure you have a prior history on your potential renters. This will provide you with the information you most need.
Making sure that your renters don’t have any priors is important. You want someone you can trust living in your rental home. Doing a background check gives you that option.
Background checks also let you know how their payments are. You will be able to make an educated opinion on these individuals.
Interview Them in Person
If you’ve been trying to figure out how to find good renters, it isn’t easy. Having an interview and meeting them in person can help you. This allows you to see them face to face.
Use your best intuition when it comes to an interview. You’ll be able to decipher their reactions to important questions this way.
Don’t Back Down on Quality
If the renters don’t check off all of your boxes don’t settle. Rent safe! Settling for tenants that are less than what you want will only cause you problems.
When it comes to considering how to find a good tenant, you need to weigh all of your options. Don’t settle because they seem “nice”.
Knowing How to Find Good Tenants Isn’t Always Easy
Sometimes you think. you find the right renters and turn out to be wrong. By following these 5 steps on how to find good tenants you give yourself the chance to find the right renters. Be sure of your decision before they sign the lease.
After all, they’re going to be living in your rental property.
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