What steps should you take to make sure you rent to the right person? For most landlords, these tasks fall into the category of due diligence and only take an hour or two of your time. However, there are additional steps you can take that can save you from months of headache and thousands of dollars down the road. It all starts with pre-screening your prospective tenant. Here are some tips on what to do during your pre-screening process in order to find the right tenant for your property.
Set the Requirements to Your Standards
Simply establishing a rent price will exclude candidates who are aware of their inability to pay your rent. If you disclose your additional conditions, such as a rental application, credit report, and criminal background check, you'll put off applicants who know they won't pass your exams.
Ask About The Number of People That Will be Living in The Unit
You may also ask about who will be living in the property, how long they plan to rent, and so on while on the phone.
If the prospects are four individuals seeking to rent your one-bedroom (most states have a legislation that stipulates no more than two people per bedroom) or if they're only looking for a short-term rental and you don't provide that, there's no need to show the home.
Pay Close Attention to Their Questions
During the phone interview, let your prospects ask questions. First, you'll learn what's vital to them, and you'll be able to highlight the aspects of your rental that meet their needs.
Second, you can determine whether or not their priorities align with yours. This might not be a good fit if they're inquiring about the nearby bars and you're worried about noise violations.
Create a Rental Application
Even if you know a prospective renter won't work out, you should always allow them to submit a rental application if you've gotten this far with them. You don't want it to look like you're discriminating, so let everyone you've previously shown the home to go through your standard screening procedure at this point.
Being a landlord can be daunting, so it’s important to protect yourself by pre-screening your prospective tenant. While pre-screening is just one part of being a landlord, it could make all of the difference in helping you avoid trouble down the road. It’s best to stay on top of things early—with these tips, you should have no problem making smart decisions about your next prospective tenant. Good luck!
Source: Laurence Jankelow (Avail.co)
Read the next part here: The Rental Application (Part 2)
Comments