If you are a new landlord, you may be wondering how to select the right tenant for your property. It can be tricky to find a tenant who will pay their rent reliably and take good care of your property.
If you have been a landlord for some time and recently had a bad experience with a tenant, you may be wondering what you should do differently to keep from having these problems again.
These are things that you need to know to help you find a good renter.
Know the laws
You can choose a tenant based on their credit rating or criminal history, but you cannot choose a tenant based on race, religion, gender, disability, age, national origin, or family status.
The Fair Housing Act covers criteria for discrimination against tenants. For more information, check out the US Department of Housing and Urban Development website.
Make sure the property is clean and in good repair
A high-quality tenant expects a high-quality rental property. You might get responses to your rental ad very quickly, even within hours of posting it.
This means that it is very important that the property is ready to be shown before you post the ad. Make sure that any necessary repairs have been done and that the property is clean and staged.
Require a rental application
This application gives you the information that you need so that you can run a background check. It should include the following information for each tenant:
Name
Social Security number
Driver’s license number
Previous address
Employer’s name and contact information
Job title
Income
Names and ages of children
Number and type of pets
References
Most states allow you to charge a non-refundable application fee, ranging from $25 to $40. Check the rules in your particular state. This fee offsets the cost of the background check.
Be clear about your policies
When you give a tenant a rental application, you should also give him a rental policy statement.
This statement should very clearly outline your policies, including the terms of the lease, rules about co-signers and pets, and requirements for renter’s insurance.
Require tenants to carry renter’s insurance
Don’t just tell your tenants to get renter’s insurance; make them show proof of renter’s insurance before you let them move in.
This protects their personal property and protects you from damage that could be caused to your property. You should obtain rental property insurance, as well.
Request a cashier’s check or money order deposits
If you do accept a personal check, don’t stop marketing the unit or allow the tenant to move in until you have proof that the check has cleared the bank. A deposit check that bounces is an obvious red flag.
Follow up on the rental application
Use that information to do a thorough background check. You can hire a company to check credit history and criminal records.
You should also contact the applicant’s employer and call the references that they provided.
If you are a landlord, get in touch with McMath Realty. We offer a variety of services to assist you in maintaining your property, including investment consulting,property management,rental management,property inspections, and home maintenance.
We manage rental properties in Chandler, Mesa, Gilbert, Scottsdale, Phoenix, Glendale, and all areas of Maricopa County.
We advertise your property in the MLS listing, on multiple websites, and on our own website. We also use signage to attract potential renters who are out driving around and looking for rental opportunities. We will assess your property, recommend improvements, and help you price your unit appropriately.
Contact McMath Realty at https://mcmathrealty.com//contact.php to learn more about how we can assist you in maintaining your property!