Do you know the type of person you’d like to live in your rental property?
Every landlord wants good tenants. You want someone who’s going to pay their rent on time, is looking for a long-term place to stay, and who is going to treat your house as if it were their own.
But, how do you find people who tick all of these boxes? It’s definitely not easy, but with the right knowledge, it can be done!
Take a look at this guide to finding tenants to make sure you choose the right people to live in your property.
1. Advertise Your Property
When locating tenants, you’ll want a good-sized pool to pick from. The bigger range of potential new tenants, the pickier you can be! To do this, you first need to have a lovely, clean property set at the right price to attract as many applicants as possible. You then need to advertize it, making sure word gets out about your listing.
There are a number of places you can advertize your home, including property listing sites like Zillow. You can also advertize on Facebook Marketplace, local Facebook pages, and on apps like Nextdoor. These are free to use and should help get the word out to people in your area.
2. One-to-One Viewings
It’s always good to meet interested renters yourself if you can or send someone to do it on your behalf if you’re not in the area. Conduct one-on-one viewings of the property rather than group viewings so that you can get a better feel of who your applicants are, learn more about their lifestyle, and answer any questions they may have. Remember, it’s just as important to identify the great tenants as it is to win them over, so make sure your viewings are informative and friendly!
3. Always Do a Credit Check
Once you have a tenant that you think would be a good fit, be sure to conduct a credit check on them. This looks at factors like their debt, how well they pay it off, and if they pay bills on time every month. A bad credit score could indicate unreliable tenants, whereas a good one will give you the peace of mind that they should pay on time every month.
If they don’t have a good credit score or have a low income, don’t immediately write them off. If they have a guarantor in place then they’re still a good choice if you like them!
4. Reference Checks
Reference checks are a great way to learn more about your new tenant and make sure they’re right for you. You should get references from landlords, their employer, and do a bank validation check to ensure their finances are in order. Of course, that’s tough and time-consuming on your own, which is why a lot of landlords use the help of tenant screening services to do a professional reference check on your behalf.
Make Finding Tenants Easy
Finding tenants may seem like a huge task, but with these tips, it should become a lot easier! Remember to bring in help if you need it, and chose the people you get the best impression from, not the people who look best on paper. Getting on with your tenants is important!
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