April 13, 2021
A good tenant can make or break your investment property. While you don’t want your property to sit vacant for too long, you also don’t want to allow a person with a poor payment history or risky behavior to live in your home either. While looking for a new tenant, here are some things to look for:
Previous Rental History – There are some red flags you cannot ignore. Eviction? Damage? Their reason for moving? These are all things you should take into consideration when looking for a tenant. Some behaviors do not change, and to avoid unwanted stress and trouble, it is best to steer clear of tenants who have been problem tenants in the past.
Credit Score Matters – A credit history with missed or late payments is hard to ignore. Even if the tenant has sufficient income to make their payments, looking at a tenant’s payment history is a great indicator of whether or not you will receive your rent payment on time.
What Should I Look For? – While there are red flags on a person’s credit and background check, there are also some signs of a good tenant you should look for. A steady job with no large gaps in employment shows that the person is reliable. Strong recommendations from previous landlords are also something that should be considered.
How To Avoid This Completely – If screening potential tenants sounds overwhelming, you are in luck. A property manager can do all of these things for you. Property management companies have the tools and processes to ensure a reliable tenant is placed in your property as quickly as possible. At Real Property Management, our tenants are thoroughly screened. We make every effort to find reliable tenants who will pay on time and treat your property as it was their own. We work quickly because we understand that time is money, and if your property is sitting vacant, it is not bringing in positive cash flow.
We are here to assist you. Give us a call today.
