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How to Find Good Tenants for Your Property

by Business Highers
how to find good tenants

Do you want to rent a spare room in your space, or maybe you’re about to put up a property for rent? Whichever it is, you want to be sure you land good renters.

No matter how much you maintain the property, a careless tenant can make all that effort go to waste. Moreover, you want to be sure they’re responsible and won’t make it hard for you as the landlord. But how do you secure them?

Screening your tenants is vital before allowing them to rent your property. So, here’s a quick guide on how to find good tenants!

Know Where to Put Up Ads

To get responsible renters, carefully choose where to advertise your property. The property marketing method you use determines what kind of audience you reach. And so, it reflects who ends up becoming your tenant.

You can market your space using the following methods:

  • Online rental sites with high authority
  • Digital and print ads in newspapers
  • Fliers around the neighborhood
  • Social media platforms
  • Third-party agency or rental manager

If a separate company promotes your space for you, consider choosing the best property management company in your area. This way, you can confirm their credibility and feel assured you will get genuine tenants.

Use an Application Process

One way to streamline the screening process for interested renters is by using applications. These are documents that prospects must fill up to make it easier for landlords to check tenants.

Rental applications collect necessary personal information about the prospect. It includes names, addresses, IDs, employment, and more.

Some states might require you to charge an application fee of a few dollars. It covers the expenses necessary for in-depth background checks.

Do Quick Background Checks

Experts say a good way to know how an individual is as a tenant is by checking their records. This way, you can see if they have unresolved issues with payments, evictions, and the like.

Note that running a report on your tenants costs money, depending on how much data you want to gather. If you do so, remember to give your tenants a heads-up before having them apply.

Have a Lease Agreement

No matter how long the renter stays in your property, it’s crucial to have a written lease agreement. It should include all sides and points of the transaction, from rules to payments.

You can also add lease violations and specific terms to protect yourself when anything goes wrong. This way, you can use the contract to support your claim.

Get Referrals

Besides tenant marketing, you can consider asking people you know for referrals. Finding tenants from people you trust can make you feel better about who they recommend.

Nonetheless, they should go through the process to help you ensure you’re comfortable having them as your renter.

Learn How to Find Good Tenants With These Tips

It takes a while to secure responsible renters when your property is new. Learning the ropes around how to find good tenants helps you be sure you can trust and rely on your prospect. At the same time, it allows you to protect your property!

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