Property owners and managers dream of the perfect tenant, one that respects their property, pays on time, and doesn’t create problems.
Does such a tenant exist?
They absolutely do. And if you want them to live in your space, here are a few tips to help you find the perfect tenants:
Choose Tenants With Good Credit: Finding tenants who are financially responsible isn’t impossible. It just requires a little legwork on your part. Every potential renter should complete an application that offers all of the information you need to run a credit check. That application should include:
- Full Legal Name
- Date of Birth
- Social Security Number
- Addresses For the Last Two Years
- Current Employer
- Current and Previous Landlord
- Permission to Access Credit Report
Per the Fair Credit Reporting Act, you need the tenant’s permission before you can take a look at their credit. I always recommend including that question in the renter’s agreement.
Do a Criminal Background Check: Criminal information is public record. This is good news for landlords and property managers who want to ensure they are bringing in the perfect tenant. To run a check, you will need the tenant’s full, legal name and their date of birth. You can start with a state or county search, and then move on to a federal search if your local searches turn up anything curious. There is a sexual offender database as well.
Learn the Tenant’s Rental History: Knowing the rental patterns of a potential tenant can speak volumes. When you reach out to past landlords, ask questions like:
- Did they pay rent on time?
- Were they respectful of their neighbors?
- Did they give 30 days notice when they decided to move?
- Why did they decide to move?
- Were they clean?
- Did they cause problems or complain often?
This is why getting references is important. Taking the time to call past landlords or property managers is never a waste of time. If you want good people renting from you, learning as much as you can about them is the first step.