How to Land the Best Tenants
Great tenants. You know they are out there, but you just need a little help finding them. Does this sound like your current situation? If you have not had the best luck with your tenant selection, perhaps it is time you switch up your screening process.
Here’s what you should be looking at.
To find your tenant, it starts with a little bit of marketing. After all, if you don’t advertise, then your new tenant doesn’t know you have a place available. So, who are you marketing to? That is where you need to aim your marketing.
- Post ads on rental websites.
- Use an email service to update all the agents in your area about your rental.
- Take to social media sites.
These are all great ways to reach the potential tenant. But, you must dig deeper.
When you have an interested applicant, begin a thorough screening process. Be sure to check these key points:
- Credit check. Rather than just looking at credit scores, take into account the payment histories, late payments, or any major issues with credit, such as a bankruptcy. It is also good to look at the amount of current debt. Too much current may interfere with the ability to pay rent.
- Background check. You will want to look into any evictions that have occurred, any public records you may find, and any criminal records.
- Employment history. Look for steady employment and, if possible, call and speak to the employer to confirm.
- Rental history. Look into the prior rentals. If you are able, contact prior landlords to see if any issues with payment or any damage.
These pieces of information can help you put together a picture of your tenant, allowing you to make a wise decision in hopes of landing the best tenant. Keep in mind, however, that there are Fair Housing laws that you need to abide by when screening and selecting your tenant. Familiarize yourself with these laws so you don’t find yourself in any hot water.
Did you know that once you find the perfect tenant, there are things you can do to ensure that you keep them? Just as you want good tenants, they want a good landlord. If you live up to your end of the deal, you may just find yourself with happy, long-term tenants.
There are many individuals looking for rental property in the Atlanta metro area. Take your time to find the right tenants for your property.
Marina Shlomov, a managing partner atALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube,Bigger Pockets andREI Club andLinkedIn.