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contact us today ! ~ 212. 721. 2222 | 203. 254. 6554 info@inordertosucceed.com
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by: Guest Blogger Hillary Hansen
Have you ever rented out your home, only to find when the tenants left, they had left a mess and the last month’s rent due? While renting out a home is a great source of additional income, you want to make sure it isn’t also a great source of additional headaches. Here are some tips to follow when looking for good tenants to rent your property:
Try to Rent to a Referral First—Between yourself and your family, you certainly know a lot of people, who know a lot of people, and so on. This is definitely the most difficult of your options when looking for a tenant, but usually the trustworthiest. Getting a renter this way is ideal. Usually when the person you are renting to knows a friend or family member of yours they feel obligated to be clean, be on time, etc. as they may have to see the person that referred them in the future.
Run Credit & Background Checks—If you aren’t so lucky to rent to someone you know, then you’ll want to make sure you do some research about the person that is interested in staying in your space. Many landlords will chalk this option up if they’ve met the person and they “seem nice.” In addition, both of these queries cost money—which no one likes spending. However, to ignore the possibility that a person could have skipped out on all their bills—or in the worst-case scenario—jail time—is setting yourself up for trouble. In addition, if you’re really concerned about spending the money to have these checks run, charge interested applicants an application fee to defer some of the cost of the process.
Call Their Previous Landlord—This is a big one. It seems like it should be obvious. However, some landlords think that simply asking for a previous landlord’s number will deter the person applying if they aren’t rental-worthy. Don’t let this be you! Call the previous landlord—they have the best information on if you should rent to this person or not—they’ve already dealt with them!
Call Their References—I can’t tell you how many places I’ve rented over the course of my life and NOT A ONE has called my references. Really? Isn’t that the purpose of putting references on an application? You ARE allowed to call these people too and ask them questions in regards to the tenant. Keep in mind—it is illegal to discriminate against a prospective tenant due to age, race, color, gender, religion, nationality, or marital status. So questions regarding any of these items should not be asked. You CAN ask questions regarding how long they’ve known the person and where they know him/her from. Often times, you’ll find references offer up a lot more information about a person than you even ask for.
Overall, when you’re interviewing prospective tenants, do your homework. A little bit of effort can protect your investment and provide good, solid, additional income for years to come!
Hillary Hansen is a featured writer for the site UniqueMirrorsOnline.com, where you can find an assortment of decorative, floor, wall, and vanity mirrors for every style and budget!
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