Being a landlord requires a lot of responsibility, and a significant aspect of this involves finding qualified tenants through comprehensive background checks to occupy your property. Finding the right tenant can save you a lot of time and money in the long run because proper tenant screening helps you ascertain that the person who occupies your property can pay rent on time and keep your property in the same condition they found it in. In addition, investing the time up-front in thorough rental history verification can save you hours of your time later on trying to mitigate the damages and headaches caused by an unqualified tenant.
Here are some top tips on how to find the perfect tenant for your property:
Before you look for a tenant to occupy your property, you need to understand the type of tenant that is suited for your property through proper income verification and credit score requirements. For example, if you're renting out a studio apartment, you most likely wouldn't look for a family to take residence in your property. The same applies if you're renting out a huge home — you likely won't want a single person occupying your property.
It's also crucial to consider whether you're willing to rent to pet owners with rental insurance, and if so, you'll have to be okay with taking the risk of your home potentially being damaged by pets. Another key factor to consider is whether you're looking for a long-term tenant or a month-to-month lease agreement. Although securing a long-term tenant guarantees a rental income for months to come, a short-term lease gives you the flexibility of ending a relationship with a tenant should you ever need to.
To attract the best tenant possible, you need to take great pictures of your property and conduct thorough move-in inspections. The property should be clean and well-decorated to be as appealing to potential tenants as possible. It's recommended that you invest in a professional property photographer as professional photographers know how to make properties look attractive on camera. If you're taking the pictures yourself, make sure you take wide-angle photos because wide-angle photographs make spaces look more prominent and will allow you to capture a space fully.
A 3D virtual tour with property inspection checklists is also a great alternative as virtual tours allow prospective tenants to "walk" the property virtually and ensure it's a good fit, prior to booking an in-person viewing. Ask your property photographer in advance if they offer packages that include photos and the virtual tour.
To attract the right tenant through proper tenant screening services, you have to make your rental ad appealing to them. This means putting in the effort to write a creative and persuasive ad that would make someone want to live in your property.
List basic details such as the rental price, security deposit requirements, the duration of the lease agreement, whether the property is pet-friendly or not, when the property is available, as well as your contact information. Also, highlighting local amenities, landmarks, public transportation, and other attractive things about living in the area. The more descriptive your rental listing is, the more likely you are to generate interest.
Providing outstanding service to people who inquire about your property through your tenant communication platform will leave a good impression and likely help you attract quality tenants. If you happen to get into contact with someone who seems like a great potential tenant based on reference checks, make sure you secure a viewing with them as soon as possible to avoid them signing another lease. Remember - time is money when it comes to a vacant property!
Conducting thorough background checks and asking potential tenants important screening questions about who will be living in the property, what they do for a living, whether they have any pets, and whether they smoke or not is essential before setting a date for the viewing. Consider this a part of your due diligence process as a landlord and request supporting evidence where applicable (e.g. employment verification, pet pictures, credit reports, etc.).
The decision of who you choose to occupy your property lies with you, and using the top tips above, you can make sure that you find the most suitable tenant for your property through proper tenant screening.
