Find the Best Tenants for Your Rental Property
Imagine this: you are a property manager who just bought a property that you plan on renting out. You want to find the best tenants for your property, but how do you know who is reliable? It’s not easy! That’s why we created this blog post with all of our tips and tricks to finding the perfect tenant. Learn more from Minnix Property Management in Lubbock.
One of the best ways to find out if a tenant is reliable is to check their references. Ask for landlord and employer references, as well as personal references, and then actually follow through with calling and confirming. This will help you get an idea of how responsible they are.
Run a Credit Check
Another great way to determine if a tenant is reliable is by running a credit check. This will show you their credit score and history, so you can get an idea of how likely they are to pay rent on time. Be careful, as running a credit check through certain companies could actually harm a person’s score, so it’s best to be transparent and upfront by asking the applicant before doing so. If they deny your request, you may choose to move forward with the next applicant.
Inquire About Previous Tenancies
If possible, it’s also helpful to inquire about the previous tenancies of your applicant. This will help you understand why they may not have stayed long in a property and if there were any issues with the property management company, such as late payments or damage to property.
Add Some Flexibility into Your Rental Requirements
If possible, try adding some flexibility to your rental requirements. For example, allow pets as an exception instead of a requirement. This will make it much easier for you to find the best tenants, as well as be more open-minded about who might live in your property!
You may feel overwhelmed when trying to find reliable people because there are so many applicants out there. But don’t let anxiety get the best of you! Make sure to take your time and understand what’s important to you when it comes to property management. For more tips and help with property management, including access to the latest technologies, and more, contact Minnix Property Management in Lubbock today!