The wrong tenants can make your life a living hell and they are the ones that you want to avoid. One crucial word of advice is not to rush when it comes to finding tenants, some landlords can get impatient especially if their property has been vacant for a while. They then put the first person who has a deposit into the property and that’s when all hell breaks loose. Here are some tips on how to find the right tenants for your rental properties.

Where Do You Find Good Tenants?
If you need some help in finding good tenants, enlist the help of a good property manager. However, if you are planning to look for tenants on your own, you'll need to:

  • Create a digital listing for your property. Be realistic and objective when describing the features of your property.

  • Use high quality photos to capture the features of your property.

  • Advertise your property on a reliable website.

How to Select Good Tenants?

  • Good Credit: If a tenant isn’t responsible enough to pay their own bills, why do you think they are going to be any more responsible when it comes to paying your rent? A credit check is going to cost you a few dollars but you will end up paying more in the long run if you house someone who is financially irresponsible. A credit check involves the following:

  • Employment Verification: Your ideal tenant should have a monthly income that is at least three times the amount of rent they are required to pay. You will need to do the following: 1.Ask for a copy of three months pay slips 2.Ask for their employment contact details 3.Make direct contact with their place of employment and find out how long they have been employed, confirm their monthly earnings, and their attendance record.

  • Check Their Credit History: Do they have a history of paying their bills on time or paying them late.

Previous Rental History

Depending on the tenant, you should ask for references from previous landlords. This may not be possible with all tenants because some may never have rented before. However, for the ones who have you should ask for the last two references. When you contact the landlords you will need to ask the following questions:

  • Did they make rent payments on time?

  • Why did the tenant move?

  • Did they leave after giving a 30 day moving notice?

  • Did they keep the apartment clean?

  • Was there any damage caused to the apartment?