It's a hot market for renting right now. There are so many tenants looking for good housing, and you know that filling vacancies doesn't take long.
That said, not all tenants are alike. While most tenants are agreeable and willing to abide by their lease terms and pay rent on time, there are some that aren't so great.
We want to give some expert advice on how to find good tenants that you'll want to keep around forever.
Keep reading to learn all about finding trustworthy tenants!
Run Tenant Background Checks
Background checks are crucial when you're doing your initial tenant screening.
Keep in mind that there are certain laws that you need to abide by as a landlord. Make sure that your screening process doesn't leave anyone out who's otherwise protected by fair housing laws.
Don't take the background check as gospel. You'll still need to make your own judgments, but a background check is a great way to catch any obvious red flags before you commit to a tenant.
Review Your Lease
If you've had problem tenants in the past, consider that your lease might be part of the problem.
It's a good idea to go over your lease with a professional to see if there's anything that you're missing. Remember that your tenants can't abide by your expectations if they're not aware of them.
Offer Good Housing
Make sure that you're being the best landlord that you can be if you're having trouble finding tenants.
If you have bad reviews, your property is in poor condition, or you're charging rent that doesn't match the property or the area's financial condition, you won't have high-quality tenants flocking to your listing.
If you maintain your property and make yourself a tip-top landlord, good tenants will follow.
When you list your unit for rent, make sure that you're upfront about your expectations from the get-go. This will let potential tenants know whether or not you're a good match before they even apply.
Make your pet policies clear, be honest about amenities, and have clear photos to give the best possible view of your property. This benefits both you and your future tenants, even if it seems like a lot of extra work.
Consider Renter's Insurance
Do you require renter's insurance from your tenants?
Not all landlords feel the need to require insurance for tenants. It's a personal choice, but it's one that may attract better tenants. These tenants are willing to pay more and they're likely more reliable.
Talk to your property manager about their experiences with renter's insurance and whether or not they think it's suitable for your situation.
That's How to Find Good Tenants the Right Way
Figuring out how to find tenants isn't as important as figuring out how to find good tenants. Anyone can fill their properties with tenants, but it's harder to find high-quality ones.
Are you struggling to find tenants who meet your expectations? We're here to help you out. At Blue Ribbon Property Management, our experienced professionals can help you with tenant screening and more.
Contact us so we can start working together today.