ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How To Find The Best Tenants For Your Property

Updated on October 22, 2019
Luke Fitzpatrick profile image

In my spare time, I enjoy writing about parenting, productivity, and home improvement.

One of the most important tasks when renting out your property is finding good tenants. Ideally, you want to find a tenant that pays rent on time, keeps the property in good condition, and sticks around.

Unfortunately, there are many bad tenants out there with horror stories to match. There are tenants who stop paying rent, cause extensive damage to the property, or even steal from the homes they're renting. Nightmare tenants can cost homeowners a huge amount in money, legal fees, and peace of mind. So, learn how to find the best tenants for your property to avoid unruly or disrespectful tenants.

1. Make your property presentable

Your main goal is to attract tenants to your property, so keeping your property looking as attractive as possible will help you drum up interest. What’s more, presenting a clean and desirable home should attract tenants who also value cleanliness and presentation, and will treat your home with the same care.

Focus on curb appeal by ensuring all broken fences or tiles are mended, the driveway has been cleaned, and the garden landscaped. Inside, you should focus on the main selling points of a home — the kitchen and bathroom. Invest some time and money into making some upgrades in these areas. The difference between a tired, old bathtub and a modern tub could make a difference in attracting a quality tenant.

2. Create a web listing for your property

If you have a target audience you want to appeal to, it makes sense to advertise your property in a way that targets these specific tenants. If you’re looking for a more mature couple, you can emphasize in your listing the home’s close proximity to public transport and the local shopping center. For property owners seeking young families, you can give details of the local schools or your large backyard and garden area.

You should also create a web listing for your property. Use quality photographs and be descriptive yet realistic when writing about your property’s features. Make sure you choose a reputable website when advertising your property, as this can also make a difference in regard to the type of clientele you attract.

3. Screen prospective tenants

Once prospective tenants have shown interest in your property, it’s time to do some background checks. A tenant application should have three references from an employer, previous property manager, and a personal referee. Make use of these references by giving them a call and asking questions about the tenant. Helpful questions can include:

  • Did the tenant consistently pay rent on time?

  • Did the tenant maintain the property well?

  • How did you enjoy working with the tenant?

  • Can you describe their overall character?

It’s wise to ask the tenants’ former employer about their reliability while at work, financial status, and employment history. With these details, you can gain more of an overall picture of your prospective tenant.

4. Look at the tenant's rental history

You want to choose a tenant that has good credit history and is financially responsible. If they’re timely and responsible when paying their bills, chances are they’ll be reliable when it comes to paying rent on time.

Ideally, you want a tenant whose monthly income is at least three times the monthly rent. Also, run a credit check to factor in their income to debt ratio. Also look out for prior evictions, civil judgments, and bankruptcies. It’s also important to check with the tenant’s previous landlords to see if they ever had trouble with the tenant.

5. Use a property manager for help

If you’ve purchased an investment property, you need to ensure it’s properly managed. Hiring a property manager can help you to navigate the complexities of renting out your property and give you an added sense of security when it comes to picking out quality tenants.

A property manager will help with finding good prospective tenants, and will also market your property; prepare legal and rental bond documents; offer market advice, and handle all screening, inspections and property maintenance to ensure you’ll attract the right tenants for your property.

Choose wisely

If you want the best tenant for your property, then you need to target your property to them. Using advertising and marketing strategies to attract these clients, along with making your home more attractive to buyers, is a great way of doing this.

To avoid a bad tenant horror story, your best bet is to always trust your instincts. Keep communication open and get to know prospective tenants to find out what type of renter they’ll be. Patience is key, and the right tenant may not come straight away. Wait for that perfect tenant and never settle for a less-than-ideal tenant that may cost you time, money and a lot of headaches.

Comments

    0 of 8192 characters used
    Post Comment
    • Eurofile profile image

      Liz Westwood 

      17 months ago from UK

      You give some great tips in this article. Is it generally worth the expense to use an agent to market and manage your property?

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://maven.io/company/pages/privacy

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)