What qualities shall you look for in a renter?

Property Management Blog
Finding an ideal renter is property manager’s biggest concern and challenge. Finding someone who pays rent in time and plans to have a long-term stay is not a piece of cake. Let’s have a look at some pro-tips to make this hunt easy!

What qualities shall you look for in a renter?

Before making any advertisement, it is better that you realize what qualities are you looking for in a renter. Some of the characteristics a renter must have include:

  • Sufficient and stable income
  • Good credit rating
  • No history of expulsions
  • On-time rent payment
  • Keeps proper maintenance
  • Ides by the rules and regulations
  • Maintains good relations with tenants and neighbors

Make creative advertisements!

Use your above-mentioned qualities to make advertisements and reach the right audience.  You can start your advertisement with local papers and online sites, but for a true effort, you should add creativity in your ads.

The basic and must-to-mention aspects in your advertisement include that the property is

  • Far from the street noise
  • within walking distance of great schools
  • near the neighborhood park
  • public transportation is easy to access
  • commuter routes are easily accessible

Do proper screening!

Every tenant is concerned about his investment. Therefore, in order to make sure that the investment is in safe hands, it is necessary to do proper screening. You should ask questions in your conversations regarding all the qualities you look for in a renter as are mentioned in the list above. If the tenant is transparent and has nothing to hide, he’ll answer you smoothly and will not hesitate at all.

It is preferred that you make every potential renter to fill out an application form. Along with the form, you should also run a credit check and demand a proof of employment from them. Look out for certain red flags such as:

  • poor credit history
  • lots of job switches
  • multiple migrations in a short time

This might appear a lot of work, but once you realize its significance, you’ll definitely consider it as a part of your investment. You can also take help of certain property management software to aid you in the screening process. AppFolio Property Manages is one of these softwares!

Thus, making use of such technology and trusting your experience and instincts, your hunt for an ideal renter will be a lot easier and productive.

If you’d like to talk more about the value of inspections, or you need help with Everest Property Management, please contact us at Everest Realty.

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