Picture this: a tenant has been in your unit for a year and decides to move out at the end of their lease. Once they move out, you go to check on the unit, and what do you find? The place is completely trashed. The previous tenants haven’t cleaned it the entire time they were in there. A window is busted, the floor is covered in trash, and there isn’t a single wall that doesn’t have a hole in it. This is a landlord's worst nightmare. So the question is: how do you prevent this from happening? It all starts during the application process. Here are a few things you can do to prevent your tenant from turning your home into an unrecognizable trash bin.
Landlord reference
During the application process, be sure to reach out to their previous landlord and get a reference. You can ask them questions like whether they paid rent on time and kept the unit in good condition, or if they violated the lease in any way. If they took care of the last place they lived, they are likely to do the same in yours. You may want to reach out to multiple of their past landlords to ensure they gave you good information. If the previous landlord gives you a negative reference, you may want to deny the applicant and look for somebody else to live in your unit.
Run Credit and Background Check
Poor credit can signify the inability to pay consistently, meaning they may not pay rent. This increases the risk that the potential tenant may have. Credit and background checks can also show you bankruptcies, criminal history, or other factors that may complicate their tenancy. Be sure to seek legal advice to ensure you abide by all fair housing laws.
Verify a Source of Income
It’s hard to pay rent if you don’t have a steady source of income. That’s why it is important to ensure that your prospective tenant has a steady, verifiable income. Reach out to employers and look at pay stubs to make sure they can pay rent. It is recommended that you have a set amount that they need to make to qualify for the property. Be careful not to discriminate against sources of income. Consult a professional on anti-discrimination laws.
Having a good tenant all starts during the application process. You can protect your assets from bad renters by screening applicants before they become your new tenant. Some of the biggest problems that landlords face with tenants are a lack of payment, not taking care of the unit, or violating the lease terms. Screening them before they move in is a great way to prevent these issues from happening. Of course, there is never going to be a guarantee of having perfect tenants, but this will definitely help your chances!
Doing all of this on your own can be overwhelming. It can be hard to get all the information needed to get a good tenant while also making sure you follow discrimination laws. You may want to reach out to professional management services to help you out. Hero Property Management is here to help. Reach out for a free consultation at 801-845-4390.