Your investment property is an important part of your income and long-term financial success. When it comes to leasing it out, the last thing you need is a tenant that causes you any sort of stress. Unfortunately, there are plenty of renters out there that can make things very difficult for landlords.
To avoid problem tenants, it’s crucial that you, as a landlord, follow a thorough and complete screening process each time you look for potential tenants. If you are a new landlord, you can expect that this can be a learning process that takes time to master. Once you get a screening system that works well for you, you’ll want to be sure to stick to it each time you are looking for new renters.
Here are a few important things to look for as you begin screening tenants for your rental property:
Why Are They Moving?
There’s quite a bit that can be learned about a potential tenant by asking about their current living situation and why they are making a change. Relocating for a new job, moving into a bigger home because of an expanding family or retirement – these are just a few examples of the types of tenants you want. Be careful if a potential tenant divulges that they are moving because things didn’t work out with a previous landlord or because they couldn’t afford the rent. If this is the case, you may want to consider a different tenant.
Are They Willing to Give Permission for a Background Check?
Background and credit checks are very common these days when it comes to screening a potential renter. By performing a background check, you can find and avoid tenants with criminal backgrounds or a history of evictions. If the potential tenant hesitates or avoids questions about a background check, this should send up a red flag for you, the landlord.
Can You Contact a Previous Landlord?
Here’s another question that is sure to tell you much about a potential renter just by the way it is answered. You want to find a tenant that has no problem at all with you contacting a previous landlord. Often times tenants with nothing to hide and no unresolved conflicts will have no reservations in you contacting their landlord. On the other hand, if a potential tenant seems reluctant to provide information that would allow you contact a previous landlord, it may be a sign that there is an issue that might impact your decision on whether you allow this person to rent from you or not.
These are just a few of the things to look for as you consider tenants for your rental property. The more screenings you do, the more comfortable you feel asking these types of questions and the better you will become at picking up on possible issues.
This is one reason why so many people choose to work with RPM East Valley when it’s time to find a new renter. Using a property management company such as RPM also helps to remove any personal or emotional influence that may impact your decision as we have the experience and knowledge to help spot a good tenant.
To find out more about our services, give us a call today at (480) 981-7000.