In the real estate industry, there are three main types of tenants: those that will be a great tenant, those that will be a mediocre tenant and those who won't make it past the first month. The difference between these groups can be found in their characteristics, which we’ve outlined for you below.
A great tenant is someone who never complains, gladly pays the rent on time, leaves the home clean whenever they move out, and upholds their side of the lease agreement.
It may sound easy to find contenders for this sort of tenant, but there are three important things you should look for in a new renter before you offer them a place to live. These traits will help you make sure that they are reliable and trustworthy. They will also make it easier for you to decide if and when to go ahead and rent your property to them.
First, your potential tenant should be able to pay the rent on time every month. This one is pretty straightforward. If they can’t do that, then you may want to find them another property before offering them the opportunity to rent yours.
However, this also means that they must have enough income to be able to afford the required payments. It’s important that you don’t allow someone who is living hand-to-mouth into your home, as this might cause problems down the line if they are unable to pay their rent on time. It’s also in your best interests to avoid tenants who won’t be able to afford the required monthly payments. They will create too much of a financial strain on you, which might lead to poor service or late rents.
The second thing you should be looking for is someone who maintains the home fairly well when they are not living in it. You are not renting out your house to have it look like an abandoned building, so you want people who understand this important point.
Remember that it takes a lot of time and effort for houses to look nice, so being lazy about keeping the home clean isn’t something that can be accepted by potential renters. You want renters that are willing to treat the home with respect, otherwise, you are going to have a lot of problems with them down the line.
The third thing you should be looking for in potential tenants is someone who has good credit. If they do not have a lot of debt or bad credit, chances are they will stick around for longer than others, which means less time and energy wasted on finding new people to take over your property.
A great tenant is always hard to find. However, if you can find someone who pays their rent on time each month, maintains the home well when not living there and has good credit, then you have found someone who will hopefully be renting your property for quite some time.
