Do you currently own rental property but find it hard to find good tenants? You're not alone. Many investors choose to purchase real estate for investment purposes hoping to find a good occupant for their property. Unfortunately many times you will receive residents who do not keep up with landscaping or deed restrictions, ruin carpet or flooring or other random acts that diminish the value of your home. Everyone hopes to find someone who will appreciate your property and maintain the standard of living that was offered to them when they became your tenant. A good tenant should have a decent credit history as well and be able to pay their rent on time. This is something to consider when interviewing potential candidates. Although everyone deserves a second chance, if your tenant can not hold down a steady job and has collectors breathing down their necks, this may not be the ideal resident for you. Always check credit history and verify employment. To find a good tenant, you should look at how you are advertising. Sometimes word of mouth can be a great place to start. A friend, co-worker or friend of a friend can be a great person to rent your property. Generally they will want to maintain the relationship with you and not destroy your home. Secondly, you can go through a rental agency. These agencies charge a fee, but do background checks, and interview possible renters for you. They can narrow down the choice of occupants for you and you can make a final decision. A good tenant also needs a good landlord. Make sure to keep your reputation clean to potential tenants, by handling complaints properly. If the air conditioning breaks, try to have it fixed promptly. Handling complaints, giving notice or upfront restrictions will help to avoid unwanted confrontations. If your neighborhood has restrictions that must be followed, these items should be discussed before your tenant moves in. If your current occupant leaves, they may know other people who will want to occupy your space. If you are a good landlord, they will want to recommend their friends and family to you. |
