{"id":18530,"date":"2018-10-29T20:46:04","date_gmt":"2018-10-29T20:46:04","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=18530"},"modified":"2018-11-01T21:25:06","modified_gmt":"2018-11-01T21:25:06","slug":"bad-tenants-can-cost-thousands-how-to-choose-great-tenants-for-your-rental-property","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/bad-tenants-can-cost-thousands-how-to-choose-great-tenants-for-your-rental-property\/","title":{"rendered":"Bad Tenants Can Cost Thousands: How To Choose Great Tenants For Your Rental Property"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span style=\"font-weight: 400;\">Let\u2019s face it. Not so many things matter to you as a landlord like finding that right match for your property. And what does an ideal tenant look like?<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Well, they pay rent on time, hardly damage the property, are easy to work with, never bother their neighbours, and so on.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There\u2019s also the tenant from hell. They are the exact opposite of an ideal tenant, exposing you to unfortunate experiences fueled by things like maintenance costs, property depreciation, tenant complaints, and damage done to property and\/or neighbours, just to name but a few.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And as much as you may be tempted to toss them out of your property right away, the terms of your arrangement probably won\u2019t allow it. Instead, you\u2019ll have to handle whatever arises between both of you in the most professional manner possible in order to avoid complicating things further.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Is there a way to avoid all that? Absolutely yes. Invest in finding the right tenant for your property. Allow me to show you how to do so.<\/span><\/p>\n<h2><b>Set Expectations In Your Rental Listing<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">While setting up your online listing, set aside a paragraph where you inform prospective tenants of what to expect if they are interested in the advertised property. Be explicit about what they have to comply with or do.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can mention that they have to submit a rental application complete with all the required documents, be ready to authorize credit checks, background checks, and other related procedures, pay a certain fee, and so on.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This way, you\u2019ll be able to weed out potentially bad prospective tenants. \u00a0<\/span><\/p>\n<h2><b>Look Out For Red Flags<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">One ideal circumstance to determine if a tenant is fit to occupy your property is during the rental property showing. Pay attention to things like time-management \u2013 did they arrive on time? Did they show up? Are they friendly? How about their behaviour? Are they ready to consent to required procedures?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the event the tenant doesn\u2019t show up or shows up late without a valid apology, looks unprepared, appears to be rude, is unwilling to consent to the screening process, and so on, consider such findings red flags.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, after running background checks, ask yourself the following questions. Do they have a higher credit score? Is their criminal or civil lawsuits history good enough? If the answers are not sufficiently good, move on to the next tenant.<\/span><\/p>\n<h2><b>Screening And References<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Screening has to be one of the most critical parts in the process of identifying an ideal client. Normally, you have to base it on what the prospective tenant submitted in their application and then go beyond what\u2019s written on the papers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Seek satisfactory answers to the following:<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Can the tenant really <a href=\"https:\/\/www.thehouseshop.com\/rent-on-time\" title=\"pay the rent\">pay the rent<\/a>?<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Do they have the capacity to properly maintain the property?<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Can previous landlords vouch for them?<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Go ahead and get permission to get in touch with current and previous employers and landlords.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Generally, there\u2019s a lot more than you as a landlord should adhere to when screening tenants and deciding who to select and drop. You can make this process more effective by enlisting the help of a commercial <a href=\"https:\/\/www.thehouseshop.com\/property-management\" title=\"Property Management\">property management<\/a> company specialized in <a href=\"https:\/\/www.thehouseshop.com\/tenant-referencing  \" title=\"tenant screening services\">tenant screening services<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you\u2019ve done all of the above, consider yourself ready to make a decision. In general, a great tenant would be the one that ticks the following points:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Is friendly and shows interest in your property<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Consents to a background check and tenant screening process<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Submits the rental application on time and complete with all the required documents<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Has sufficient income and is a responsible employee<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Has a history of meeting their rental obligation<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Has a great credit score, solid financial history, and clean criminal record<\/span><\/li>\n<\/ul>\n<h2><b>Final Thoughts<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As you focus on finding the ideal tenant for your property, also learn about the relevant act(s) that govern the relationship between tenants and landlords. Make sure you abide by the regulations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In most countries and states, part of the act will include a section on what you as a landlord can and cannot use to deny a prospective tenant space in your property. That includes discrimination based on things like race, ethnicity, personal reasons, and so on.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That aside, don\u2019t forget that if you do your job correctly and learn from your mistakes, you stand a greater chance of evading tenant-generated liabilities and achieving the peace of mind every landlord dreams of.<\/span><\/p>\n<p>Author Bio:<\/p>\n<p><span style=\"font-weight: 400;\">Eric Worral has owned and managed rentals for over 9 years. Currently, he works in marketing at <\/span><a href=\"https:\/\/www.rentprep.com\/tenant-screening\/credit-check\/\"><span style=\"font-weight: 400;\">RentPrep.com<\/span><\/a><span style=\"font-weight: 400;\">, a t<\/span><span style=\"font-weight: 400;\">enant screening service for landlords and property managers. He\u2019s also the co-host of the \u201cRentPrep for Landlords\u201d podcast where he shares tips and insights on managing your <a href=\"https:\/\/www.thehouseshop.com\/property-to-rent\" title=\"rental properties\">rental properties<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let\u2019s face it. Not so many things matter to you as a landlord like finding that right match for your property. And what does an ideal tenant look like? &nbsp; Well, they pay rent on time, hardly damage the property,<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/bad-tenants-can-cost-thousands-how-to-choose-great-tenants-for-your-rental-property\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/bad_tenants_can_cost_thousands__how_to_choose_great_tenants_for_your_rental_property","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/18530"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=18530"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/18530\/revisions"}],"predecessor-version":[{"id":18552,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/18530\/revisions\/18552"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=18530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=18530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=18530"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=18530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}