Finding good tenants for your residential rental property starts with a quality home. There are several things you can do to make sure you’re getting a good tenant who will pay rent on time, take care of your property, and fulfill the terms of your lease.
Keep the Property Clean
You need to make sure your home is clean, tidy, and well-maintained. We recommend that you hire a professional house cleaner so that the entire home is in tip top shape before a new tenant moves in. Not only does this help you attract good tenants, it also sets the expectation that it’s how you need to get the house back at the time of move out.
Hire a Good Property Manager
We recommend you hire a professional property manager to help you find good tenants. Look for a property manager who has access to quality referrals. Work with a local company that has a lot of connections in the real estate community. This will plug you into a network of Realtors who can send you referrals for good tenants.
Screening Tenants Thoroughly
We do extensive background checks on all prospective tenants. It’s important to go beyond the basic criminal and credit checks. You should also check eviction records and do a complete background check. We call all past landlords for references to be sure they would be willing to rent to the tenants again. Verify the tenant’s current employment and conduct an income analysis to be sure the tenants will be able to make rent payments on time every month.
Take Your Time
When you have your property listed for rent, you want to be sure that you can select from a large pool of tenants. This helps you pick the best possible tenant for your property. Choosing the first tenant to show interest is not always the best policy. Wait and get a good fit.
Market the Property Strategically
You’ll need the right marketing exposure to find high quality tenants. Place an appealing sign in the yard, and concentrate on your online advertising presence. Do a video for people who are browsing the web late at night, so they can feel like they’re seeing the property.
If you have any questions about these tips for finding a good tenant, please contact us at Midwest Property Resources.