Did you know that as much as 44.7% of landlords surveyed have had to evict a tenant? Getting caught with a less-than-ideal choice for your next tenant can be costly, stressful, and take precious time away from your other duties. Finding reliable tenants can be tricky, but it's not impossible.
Read on to find out how to find good tenants and when you should get a property management company to step in and help.
Tips For Finding Tenants
Finding reliable tenants starts with laying out what you consider to be the best traits. When finding tenants, keep an eye out for these qualities:
- Good credit report
- Healthy track record of regular payments
- Steady income that is three times the rent rate
- Ability to cover an upfront security deposit
- Positive references from former landlords
- No previous history of eviction
There might be many other qualities that are important to you so making a list of the necessities is a good first step.
How to Find Reliable Tenants
Once you've decided what will make a good tenant for you, it's time to put some key steps into action.
1) Create a Listing That Makes Finding Tenants Easy
While it might seem easy to grab your phone, take a few snaps and set up a listing, professional photos are the way to go for the greatest impact. There are many tips and tricks a dedicated real estate photographer knows to help you showcase your property in the best light.
2) Set Clear Expectations
Setting expectations upfront means there are no doubts on behalf of the tenant. You can lay out your ideal terms in your advertisement, and also when meeting the potential renters for the first time. This can include:
- Duration of occupancy
- Smokers or non-smokers allowed
- Small pets or no pets on the property
3) Conduct a Comprehensive Screening
Sure, it can be tempting to do a quick Google search and call it a day, but a full tenant screening will cover essential background information that could make or break your new tenant experience. Besides employment verification and a credit check, a thorough screening goes through eviction history, criminal history, and even debt-to-income ratios. To read about four good reasons to conduct a criminal background check on a prospective tenant, click here.
Check out this link for a landlord-friendly tenant screening checklist. https://carolinaspropertymanagement.com/blog/a-helpful-tenant-screening-checklist-for-landlords
Maintain a Good Relationship With Your Tenants
One of the most beneficial things you can do when finding reliable tenants is to develop and maintain a good relationship for the length of their lease. A happy tenant will make life a lot easier for you and if you continue to fulfill your landlord's obligations, they should have no reason to want to cause trouble or leave.
How to Find Good Tenants? A Property Management Company Can Help
One of the easiest ways to find reliable tenants is to get a professional involved. Carolina Property Management covers property management, tenant screening, rent collection, and many other services to make life easier for you.
Find out more about how to find good tenants with 24/7 support from Carolina Property Management.
