If you want to make sure that your rental property is bringing you the stable income that you expect is to make sure that your tenants are reliable, they will stay in the rented space for a long time and they will pay the rent in time for as long as they stay. One way to ensure that is by vetting the potential tenants before you hand them over the keys – here are some things to know about the process:
- Use legally acceptable criteria – single family home rental companies with integrity assert that it is illegal to discriminate potential tenants based on their race, skin color, religion, ethnicity and nationality, sex, family status and disabilities;
- Ask for a rental history – ask the potential applicants to provide a list of their previous rentals, complete with contact details so that you can verify their rental history. Make sure to check for any previous evictions – they are red flags;
- Check credit status – if the potential renter consents, you can check their credit report to see whether the applicant will be able to pay the rent in time;
- Do not disregard your personal impressions – look for tenants who inspire you trust and are good communicators – it is easier to manage the relationship with your tenants of they are nice people.