Bad tenants are definitely a liability for property owners considering the property damage they cause and late payments they make. Well, this isn’t the end. Bad tenants can also cause expensive problems that may require significant money and time to fix. A bad tenant can be worse than empty property.
Ward off your worries as there are several ways to determine if a prospective tenant is good for your property. Here are 5 screening tools that will help you choose the best prospective tenant for your property:
- Run background check: Responsibility of minimizing the possible risks while renting out the properties lies in your hands. Therefore, you must conduct background checks of your prospective tenants to know if they have had any criminal records in the past. This crucial information will certainly guide you to make an informed and educated decision while helping you select the most reliable candidates.
- Ask questions: While interviewing your prospective tenants, there are few questions that you must ask. These qualifying questions can also be asked over phone. This can save your time from physically showing the property if the prospective tenant does not meet your requirements over phone. Some questions include: Why are you moving? When do you plan to move in? How many people will be living in the apartment? Can you provide reference from your current employer? Do you have pets?
Pay close attention to the answers provided by the applicant because they tell a lot about the tenant. Good tenants have nothing to hide.
- Contact previous landlords: Many a times, current landlords call up former landlords just to interrogate if tenant pays the rent on time. In an ideal scenario, the questions shouldn’t end there. To know what your prospective tenant is, you have to dig a little deeper. Ask some basic questions about tenant’s lifestyle such as: Has the tenant cause any damage – minor or major in the rental property? Did the tenant cause any major issue to his/her neighbors? Would you rent your property to your prospective tenant again in the future? These questions will provide you with a fair idea about your prospective tenant and help you make an informed decision. However, ensure that your questions do not invade anyone’s privacy.
- Stick to your standards: In some instances, if a prospective tenant is incredibly likeable, you may let yourself cut corners on the screening processes. It is important for you to make sure that every applicant goes through the entire screening process irrespective of how nice and responsible a person he/she is. Remember! You cannot just go by your instincts when it comes to renting out your property.
- Look out for good qualities in tenants: You can reduce the possible risks that you might face by future tenants just by understanding qualities of good tenants. Know if your prospective client is responsible, respectful, clean, honest and drama-free. These qualities make up a good tenant and the right one for your property.
Screening your prospective tenants is much easier with PORTIQO (link to PORTIQO’ services page). We pay attention to details and help you rent your property to quality tenants and enjoy long-term rental without any hassle. Contact us today for more details about our services. We would be happy to help you.