“Either there are lots of really bad tenants, or the landlord is really aggressive and wants to get people out.” –Jose Lamport
Today, with the housing market prices on a steady incline, more and more individuals are looking to rent houses as an alternative to the long-term commitment of owning property. While this means great news for landlords as this would mean an increased demand for their rental properties, they should be extra meticulous and discerning in the prospective tenants they accept. As a landlord, it is your responsibility to ensure that the tenant you choose would take care of your property as much as they would if it was their own. In this way, you would not only be protecting your property but your investments as well. The difference between choosing a good tenant and a bad one means all the difference between a profitable venture and one with large losses or even worse. So, regardless of whether you have a long string of potential clients queuing to see your new property in Avida Towers Centera or wherever, being picky would definitely reward you in the long run.
So, how do you ensure that the tenants you choose are reliable and trustworthy ones? Well, here are a few tips you can follow to make the screening process a breeze.
1.) Take your time
Do not immediately select the first prospective tenant that shows interest in your property. In ensuring that you choose only the best candidates, it is best to avoid rushing yourself as this will lead to incredibly hasty decisions. More often than not, you would even have to compromise before even beginning the process. Plan well in advance and advertise the property or room early. If you have existing tenants, ask them to cooperate by allowing them to give their feedback as well as show the property to prospective new tenants. Give your existing tenants a little nudge of encouragement in helping you with small incentives such as dinner at a local restaurant or some bottles of wine. As a result, they would be more receptive to helping you fill the vacant spaces in no time.
2.) Broaden your search
If you want to broaden your scope of prospective tenants, then you should at least try ever advertising avenue at your disposal. Considering that most people are spending their most of time online, social media platforms would be a premier spot for advertising your rental property. If you have an agent, know what methods they are using and take a gander at the photos and descriptions they are showing. In this regard, it is best to depict your property in the best possible light to entice prospective tenants to come and see it for themselves. Lastly, try writing ads yourself, highlight your property’s best features and consider what a tenant would be looking for.
3.) Be proactive
Do not merely advertise a room or property and wait for the offers to come rolling. Successful landlords become so by working proactively. Look for adverts either online and offline stating that they are looking for rental properties or rooms. Scour your neighborhood or the internet for potential tenants and see if your property meets their criteria.
4.) Trust your gut
While you should not discriminate against someone’s race, gender, religion and sexual orientation, this does not mean you can no longer trust your instinct. Indeed, it might be illegal to discriminate prospective clients on the above-stated grounds; this in no way would mean that you simply have to accept everyone who comes along. If something is off and something just does not feel right, trust your gut.