Choosing the right tenants can be somewhat tricky unless you follow a few tricks of the trade. Successful landlords have criteria they follow in making the right choices.
Property Management – Saginaw Tx: Renting out your investment houses may be the whole reason you decided to jump into the real estate investment world. You may be simply interested in renting out the houses until the market improves and you can think about selling them for a profit. Either way you will need to know the best ways to improve your potential tenant pool as a good tenant is like gold, while a bad one can make your life absolutely miserable.
When advertising, state your qualifications. Tell them you’ll need job history and income verification, credit history, and a full application. This will scare away those who aren’t in good standing there. This eliminates wasting time on tenants who won’t pass your tests.
When you plan to rent out your house, give a group of applicants the same time to arrive at the house for you to show them around. Make the time frame short and precise. If they don’t make it on time, you can eliminate them as applicants are ordinarily on their very best behavior. Being late for their first meeting with you isn’t impressive.
When advertising, state your qualifications. Tell them you’ll need job history and income verification, credit history, and a full application. This will scare away those who aren’t in good standing there. This eliminates wasting time on tenants who won’t pass your tests. This will also protect you from an accusation of discrimination.
Have all interested fill out the application and submit it with a credit check fee. Look over the applications for questions unanswered, illegible writing, or no fee included and you can eliminate them. Now run your checks on the remaining applicants that qualify. Do an eviction check on them, too, while you are at it. There are landlord specific websites that do checks for a reasonable amount and can answer these questions for you.
- When you plan to rent out your house, give a group of applicants the same time to arrive at the house for you to show them around.
- Look over the applications for questions unanswered, illegible writing, or no fee included and you can eliminate them.
- Don’t miss calling the former landlord because that’s where you’re likely to get the most honest information.
Call the current landlord of each and also call their former landlords. Don’t miss calling the former landlord because that’s where you’re likely to get the most honest information. If the current landlord is anxious to get rid of them because they are a problem, the current landlord might talk them up so you will give them somewhere else to move to. Bad tenants are difficult to get rid of and if you offer a way out, the landlord might just take it.
Finally, it’s a great idea to look for about 10 applicants you can choose from. In a populated area, this isn’t hard to do. You’ll have a good number of renters to choose from and can pick the best of the batch. With a little common sense and some diligent checking you should find renters that will make your life easier.
Real estate Investor, Broker, and private money expert. Adventurer that lives life to the fullest. John is also the author of Attracting Private Money Lenders & 17 Vital Keys To Creating Wealth While Building A Profitable Real Estate Investment Business.
Attracting Private Money Lenders: And 17 Vital Keys To Creating Wealth While Building A Profitable Real Estate Investment