As a landlord, you can never have it all, but if you don’t strive for the best, and set high standards for your tenants, you’ll always have substandard renters, with a slew of problems to accompany. There are some basic characteristics that should be the consistent platform for your tenant filter. You’ll need to detect these characteristics before a tenant signs the dotted line. Everyone has their faults, but there are specific faults you should avoid. After all, it’s business, not personal. Consider these characteristics when making a decision about a future tenant.
This is a characteristic that you won’t necessarily know ahead of time, but as you’re interviewing tenants, be aware and observant of small things. Are they respectful of your time? How timely they are on returning a phone call,? Can they keep an appointment? How responsive are they to emails? These are all indicators of future and will translate to dire matters such as paying on time etc.
2. SAVE YOUR DRAMA FOR YOUR LLAMA
There’s nothing worse than a high maintenance tenant. If someone is not independent, cannot solve their own dilemmas, and has a needy tendency, that can make your life complicated as a landlord. Analyze the types of questions they ask you when you’re interviewing them. Do they talk a lot about themselves? Are they self absorbed? Are there other characteristics that are sending out warning signs?
3. NOT THE FIRST TIME AROUND THE BLOCK
History doesn’t mean everything, but it can speak volumes, and if you aren’t desperate for a tenant, which you should never be, pay attention to patterns of movement. For example, why did this interested tenant move 5 times in the past year? What other characteristics sound the alarm bell? Have they had multiple jobs in a short time period? Have they served time in jail? Don’t underestimate the importance of a potential renter’s history. Go to this source and follow the steps to check a potential renter’s history.
4. YOU’RE NOT A CHARITY
To avoid drama, evictions, lawsuits, etc., it’s important that you know your tenant has a steady source of income. It is risky to take on a tenant who doesn’t have a consistent job. Feel good characteristics do not translate into money. There must be a tangible source. No matter how sincere a person is, they can’t create money out of thin air. Protect yourself as a landlord.
5. NUMBERS REVEAL CHARACTER
Credit. Those three numbers can tell a story. Don’t underestimate the importance of including credit status in your consideration. Credit history can serve as a filter that will protect you from a painful future of lawsuits, losing money, and wasted time. It can be part of your character check for interested tenants. Read this article for methods on checking potential tenants credit.
Keep in mind that once you put the hard work into finding an ideal tenant, it is vital for you to put your best foot forward to keep them. The responsibility goes both ways. Show YOUR best characteristics as a landlord to keep these rare tenant finds. This article is a great source for learning how to keep a good find!