How To Find The Best Tenant For Your Rental Property

best tenant for rental property

Before going further into the details, let us first discuss what makes a good tenant. If you are new and just started in the business of property management Atlanta, an important thing to consider is that selecting a tenant is a business decision. Like every business decision, you should evaluate a tenant based on objective facts versus opinions. It would help if you looked for a few things while finding a good tenant.

Top 8 Qualities To Look For In A Good Tenant

Healthy track record of on-time payment

This is very important as a survey conducted about top landlord concerns revealed that timely payment is a considerable problem with tenants. Most of the tenants will try to delay or skip the payment. To avoid these headaches, you should check their track record in paying the rent on time.

Steady Income

Look for tenants who have a steady income. This will ensure they will pay the rent on time.

Positive credit report

A favorable credit report is also a criterion for on-time payment.

Security deposits

The tenants should be able to cover potential property damage with security deposits.

Good references from past landlords

The past landlords can provide you with a transparent take on the tenants. You can find out about that while cross-checking the references provided by the potential tenant. 

Polite and respectful to neighbors

The tenant should maintain the basic decency of a rental property.

Eviction history

The tenants should have no eviction history.

No criminal record

The tenants should have no criminal record. You do not want any trouble with a tenant for their behavior.

All of these can be cross-checked and verified individually; however, a better way to handle the rental is by hiring a property management Atlanta team. A Property management Atlanta team can help you with all the aspects of rental service. You are starting with management and renovation of your property, finding tenants that are good for you, the residents of the property, and the property itself. We were discussing the criminal history and eviction history. One question appears, well, from where can we access it. This is where the expertise of a property management Atlanta team comes in. You can also do it by yourself. 

5 Things To Consider While Hiring The Best Tenant For Your Rental Property

Invest in the infrastructural improvement

An excellent rental property will always attract suitable and qualified tenants. One thing you can do is renovate or improve the property without breaking the bank. You can do a complete interior repaint or as little as plant a few flowering plants in the yard. While doing this, make sure you do not overdo your renovation. If you overdo the renovation, you have to increase the rent fee. You will have difficulty finding tenants if you have a higher rental price than rental properties near you. Your repair and renovation budget also depends on the number of rental properties available.

Do thorough research

Before fixing a rental fee for your rental homes, do thorough research on the average rate at the locality. The standard market price should be considered before fixing the rental fee.

Advertise

You can advertise physically. The new normal is advertising inline. It attracts a lot of traffic, and you are most likely to get tenants within days with proper advertising and, most importantly, on appropriate platforms. Do some research about platforms that attract more traffic.

Set your expectations upfront

While looking for tenants, the more straightforward you are, the more suitable tenants you will attract. You can make it clear whether you want the tenants to smoke on your property, whether you allow pets or not, and all other things that you are expecting from a tenant.

Tenant screening

While tenant screening is the most challenging task, you must be patient and check their credentials and their proof of identity and documents. Check if they have any criminal history or eviction history. Ask the tenants about their smoking habits if you are uncomfortable with smoking. Be as transparent and straightforward as you can. You can also hire a property management service to make it easy. They will handle the tenants screening as they have years of work experience in managing properties and tenant screening.

Comments

Post a Comment

Popular posts from this blog

What Are The Responsibilities Of A Property Management Company?

Image
Suppose you are managing your rental property, which is in Atlanta. You don't have any idea regarding the job of the property management company. But you are in desperate need of a property manager of management of property in Atlanta. So, before hiring a  property management Atlanta  company, you should know about the task they perform and how they handle things like rent collection and tenants. Some points have been highlighted Below, which will help you decide how to find a property manager and its primary responsibilities. 4 Key Responsibilities Of A Property Management Company Marketing & Leasing:  When you first hire any management company, there should be an initial walk- through video of the home. The walkthrough video should include repairs and updates. These recommendations help improve homes to attract better tenants and decrease the dry spell of extended, odd vacancies. It also includes needed repairs to bring the house to move-in ready status and comply w...
Read more

What Are The Best Practices In Property Management?

Image
Through property management, you may build a lasting professional network of investors, tenants, and other service providers and a steady income stream. Establishing solid relationships with property owners and renters requires competent management services. If you want to manage your rental properties in Fayetteville then you can hire 3 Options Realty for effective property management in Fayetteville . 8 Best Practices In Property Management Effective Communication Like every other aspect of life, effective communication is fundamental in property management. One of the most prevalent sources of tension between renters and landlords is misunderstandings. If you don't keep in touch with your tenants, they may feel dissatisfied and powerless in their living conditions. Landowners will be dissatisfied if they are hit with an unexpected cost. Maintain harmony by keeping everyone informed. Take the initiative and keep in touch consistently. Be asked for help before taking action. Regul...
Read more

What Should You Look For In A Good Property Management Company?

Image
Property dealings have become the most popular topic worldwide because of the increasing property rates. This industry is getting a lot of importance with each passing day, which is why you should also consider investing in it to get incredible returns in the future. However, to invest in the right property, you should know all about good property management Fayetteville methods and also hire trustworthy and authentic property dealers for yourself. The best thing about hiring authentic property dealers is the benefit of getting accurate and worthwhile property choices for yourself. 3 Options Realty is the certified property management company offering professional residential and commercial property management in Fayetteville . If you are aware of the worthiness of what property dealers bring to the table, then you will not ignore its existence and will instead get as much help as possible. These dealers will ensure that you don’t get trapped in any fraudulent activities that may occur...
Read more