Do you have rental properties? Are all units fully occupied? How are the tenants so far? Can they be considered good tenants? Or are they giving you severe headaches with their failure to pay rental on time, the damage done to your property, and their questionable lifestyles?
Finding good tenants nowadays is one of the problems many landlords are facing. Alright, many people are willing to occupy your property, but the question is, are they qualified to be your tenants given the standards you set? Actually, the real problem is not just to have tenants but it’s more of having good tenants for that matter. And it takes time and effort for you to have these kinds of tenants. Nonetheless, it’s worth the time and effort and it’s fulfilling to have good tenants for it will also reflect how good a landlord you are. Consider some factors below that will certainly make or break your career as a realtor.
Foremost, you need to take some photos of your property. It’s not really necessary to hire the services of a professional photographer but just make sure that you will be able to capture every aspect of your property that will certainly spark some interest. Don’t forget to do it during the day because natural light enhances the visual content of the pictures. Don’t just use a mobile phone camera but a decent-quality digital camera, to ensure the quality. Also, just take more pictures so you’ll have choices on which to present.
After you have taken some photos, advertise your property on newspapers and websites. With the revolutionary social media today that’s really a perfect platform for advertising, there’s no way that your property will be left unnoticed by potential tenants. But to entice more viewers of your ad, write a clear and descriptive copy to complement with your nice shots. It pays to have an excellent description of your property as it adds more appeal. Take full advantage of the free social media sites but, if you have the budget, you may also consider paying for ads. After all, you’re advertising a real property and you’re looking for qualified tenants so might as well do everything for this purpose even if it will cost you a few dollars more.
Once you received inquiries, take time to interview the prospective tenants. You need to be up front with them, ask about their means of living and their lifestyle. See to it if they can afford to pay rental not just for the first month but for the rest of the contract. Also, ask them if they smoke, drink liquor, have some pets, or anything you ought to know relevant to the use of your unit. A very important reminder, this may sound a little discriminating but you have to consider their personal appearance too, as this will also reflect how they’ll take care of your property. However, this should only raise suspicion about the person and should not really be just the sole basis of your decision to whether accept or reject him/her.
Then with all the information you gathered from the potential tenants, make a background check. A credit investigation is necessary to determine if that person has too much debt. Because if he does, he probably can’t afford to pay the rental. Contact his employer and current or previous landlord. Doing this will help you determine if he has really told you the truth about his employment, income, rental preferences, and past problems. A thorough analysis of all the information you verified will bring great results. And if it’s affirmative, require a security deposit aside from the advance payments in post dated checks.
Finding good tenants really takes some work, but when you think about your property and the possible damage that a bad tenant could do, you’ll be relieved that you’ve done the right thing from the start and it’s definitely worth the investment.