Property owners and managers dream of the perfect tenant, one that respects their property, pays on time, and doesn’t create problems.
Does such a tenant exist?
They absolutely do. And if you want them to live in your space, here are a few tips to help you find the perfect tenants:
1) Choose Tenants With Good Credit
Finding tenants who are financially responsible isn’t impossible. It just requires a little legwork on your part.
Every potential renter should complete an application that offers all of the information you need to run a credit check. That application should include:
Full Legal Name
Date of Birth
Social Security Number
Addresses For the Last Two Years
Current and Previous Landlord
Permission to Access Credit Report
Per the Fair Credit Reporting Act, you need the tenant’s permission before you can take a look at their credit. I always recommend including that question in the renter’s agreement.
2) Do a Criminal Background Check
Criminal information is public record. This is good news for landlords and property managers who want to ensure they are bringing in the perfect tenant.
To run a check, you will need the tenant’s full, legal name and their date of birth. You can start with a state or county search, and then move on to a federal search if your local searches turn up anything curious.
There is a sexual offender database as well.
3) Learn the Tenant’s Rental History
Knowing the rental patterns of a potential tenant can speak volumes. When you reach out to past landlords, ask questions like:
Did they pay rent on time?
Were they respectful of their neighbors?
Did they give 30 days notice when they decided to move?
Why did they decide to move?
Were they clean?
Did they cause problems or complain often?
This is why getting references is important. Taking the time to call past landlords or property managers is never a waste of time. If you want good people renting from you, learning as much as you can about them is the first step.
- Renttropolis Team