Five ways landlords can find (and keep) good tenants

Five ways landlords can find (and keep) good tenants

You may find it frustrating to have to constantly manage an occupied property. You’ll know how easy it is to find and keep long-term, reliable tenants if you’ve been in this situation. Finding good tenants is not as difficult as it may seem.

Let’s start by asking the obvious question.

What is a good tenant?

It is important to find the right tenant the first time. TransUnion estimates that the process costs an average of $3500. Here are some factors to take into consideration when finding new tenants and screening the applications of prospective tenants.

In the end, choosing a tenant comes down to a business decision. It can be tempting for you to choose tenants with whom you “click”, but you should make your decision based on facts and not subjective feelings.

What are the qualities you should look for when searching for renters?

Let’s get specific. Let’s get specific.

  • No relevant criminal convictions
  • Clean eviction history
  • Have a good credit and financial history
  • Have a stable job and income
  • Is honest
  • Respectful behavior
  • Does he have good communication skills?

Finding good tenants is easy with these 5 tips

You’ll also need to spend some time maintaining your property, advertising it in the best places, and reading through all applications and interviewing potential candidates.

These five basic principles will help you and your property succeed.

Preparation #1

What happened to your tenants? Why did they leave? What went well? What frustrated you? If you are looking for tenants to rent your new property, think about what it can offer.

Consider local amenities like rec centers, schools, parks, restaurants, shopping and dining. Not only will you attract the right tenant, but also make sure that your property is a place people want to call home.

Repair What’s Broken

Don’t showcase a sub-par property. Be sure to check your landscaping and update the paint before taking any photos. Use our maintenance checklist to ensure you are covering all the bases.

Advertisement #3

Advertising is the best way to find the right tenants. After you have prepared your space, and thought about the type of tenant that you are looking for it is time to show off your space. Take quality photos of the property, and write a detailed listing. then advertise the property in multiple places such as Zillow. Craigslist. Facebook Marketplace, etc.

#4: Set Clear Expectations

In the listing, you should state that you are looking for long-term tenants. Let tenants know that if your property is located in a quiet area, they are expected to be quiet. Do you accept pets as tenants? Be upfront when you place an ad for your rental or interview potential tenants.

#5: Comprehensive Screening

You’ll then move on to the interview process. While most tenant interviews last no more than 30 mins, you can make the most of that time to learn about your potential tenants. You should run a background check on all candidates you are considering after the interview. You should check the background of anyone older than 18 years old who will be living in the apartment, not just the main applicant.

Three Keys for Keeping Good Renters

You have some great tenants. Excellent. How do you keep everyone after they’ve signed the dotted lines?

Communication is key

Communicate clearly and promptly with tenants. You should respond to their needs and requests as soon as possible. Let them know if you plan to inspect the property. Set the tone of communication for the duration of the lease. What is the best way and time to contact you? What are the tools they can use to ask you questions or make requests about your property?

Second Warm Welcome

You only get one chance to make an impression. Inviting your tenants to their new home is the best way to welcome them. You can make your tenants’ move-in day special by giving them a small gift, a guide to the neighborhood and instructions on how to pay rent and utilities.

Third: Respect their privacy

No one enjoys a surprise visit. Schedule a visit at a time convenient for your tenants. Although it may be your home, the tenants are entitled to live there. Also, check your local laws and state laws for the legal boundaries. You can respect the rights of everyone.

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