Tips for First Time Property ManagersJuly 12, 2018
How to Spot a Successful RealtorAugust 4, 2018
Choosing the right tenant for your property can, at times, be stressful. But the task is made so much easier if you’re prepared and know what to look for in each individual. Here are some things you’ll need to know from potential renters.
- When they plan on moving in. This depends on how soon you would like a tenant to move in; if they’re not planning on moving for another three months, you may want to hold out and wait for someone who is ready to move in much sooner.
- If they’re able to pay move-in costs after signing the lease. Let them know you require first month’s rent and a security deposit, followed by what the amount will be. If they’re prepared to pay as soon as the lease is signed, continue with the process. If they’re hesitant and ask about payment plans, consider this to be a red flag. Chances are, you will have difficulties getting the full payment on time. If they say they don’t have the money “right now,” move on to the next candidate.
- If they have pets. This depends on whether you have a no pet policy or if you only allow certain types of pets. You can use this moment to explain your policy and if you have any pet fees.
- If they’re able to pass a background check, as well as a credit check. You can show the place to them, but you’ll need to inform them that an application and a check will be required before they can rent the property. If you’re charging a fee for this, tell them the amount.
- Why they’re leaving their current residence. Some may say, “Well, it’s because I don’t get along with my landlord.” Or, “My lease was terminated.” If this is the case, contact the landlord to determine why this tenant is trying to leave. This will give you an idea of what to expect, should they rent from you.