There are more than 43 million rental properties housing individuals and families across the country, which means there is an incredible number of landlords managing those homes as well. It's a popular job because there are so many perks and benefits.
Like any job, being a landlord has its difficulties as well. One of the main things is finding the right tenants. The people who live in your properties can make all of the difference in whether you are successful or continually have problems you have to solve. It's best to take a little extra time to find the right fit.
We're sharing our best tenant screening tips to help you develop a fool-proof system to fill your rentals.
Have Clear Expectations
Every rental property is different and every landlord has different expectations for their tenants. It's important to very clearly define what those are to add to your tenant screening report.
This will not only help you narrow down your search, but it will also make sure potential tenants understand and agree to your expectations as well. Clear communication from the very beginning helps you to retain tenants and have less turnover. Make sure all of your questions are geared towards finding those who can meet your standards!
Tenant screening shouldn't be a one-time thing before signing leases and agreements. Instead, we recommend going with a tiered approach that moves potential renters through a process to filter your search to the best choice.
The first could be the basic questions to see if the property fits their needs and so on. Next would come a tenant screening background check to make sure there are no hidden problems and the potential renter meets your requirements. If everything checks out for both those levels you can move on to financial information.
This process helps you to keep the system organized and prevents wasted time for everyone.
Market the Right Way
Before you even begin the tenant screening process, you have to attract the right applicants. This is why rental property marketing is so important, it helps you narrow down the field before you technically even begin.
Think outside the box for where you advertise, work to match the type of renter you want to the place they may visit online and see your ads. The extra effort will bring in the exact people you want!
Tenant Screening Skills to Find the Best Fit
When you're a property owner, tenant screening is one of your most important tools. The best tenants are the ones you can trust to respect your policies, pay you one time, and take care of the property. They're courteous and don't cause problems with anyone else involved in the area.
Finding these kinds of renters can feel like finding a unicorn sometimes. But using tenant screening services is a great way to make the whole process much easier on you. Not to mention the confidence that the choice will be the right one!
If you're interested in learning more about property management services and how they can help you, contact us today!