What’s the secret to finding great tenants?
It all starts with the checks.
Good tenant checks ensure you don’t end up with tenants who fail to pay rent on time or cause damage to your property.
But you can’t always rely on your property manager to conduct them.
A bad property manager may be so concerned with getting someone in that they fail to conduct the proper checks.
With these tips, you’ll know what to look out for.
Tip #1 – Get As Much Info As Possible
You want to know as much as you can about your tenant before letting them into your property. That means you need to gather information.
Create a standard form that covers the basics. However, it’s also crucial that you carry out credit and background checks.
A credit check shows you if the tenant’s able to cover the costs of renting the property. The background check shows if they have a criminal past that you need to worry about.
Tip #2 – Get References
You can learn a lot about a tenant from the way they’ve treated previous rented properties.
Ask for references if you know the tenant has rented from someone before. Call these references to discuss how the tenant treated the property.
Steer away from any who caused issues. Plus, it’s best to avoid tenants who refuse to provide references.
Tip #3 – Instruct Your Property Manager
If you do decide to use a property manager, make sure they know what you’re looking for in a tenant. Provide clear instructions and check in to ensure they’re followed.
Often, you’ll end up with bad tenants because your manager hasn’t conducted the right checks.
Of course, tenant checks don’t end once you have a tenant in place. You still need to conduct property inspections and create condition reports.
That’s where a platform like Yabonza can prove useful. Yabonza allows you to keep track of how a tenant treats your property. Plus, you only have to pay a 3.9% management fee for the service.