When processing applications, consider if the potential tenant meets some of these qualities. It can save both you and the applicant time and stress when you’re able to determine the traits of a high quality tenant.
A good tenant should be responsible enough to abide by the lease terms and pay rent on time, among other things. You can measure their responsibility through interviews with previous landlords, observing if they have timely communication skills and checking if they commit to doing what they say they’ll do.
Does your applying tenant have the ability to pay rent on time? Reviewing their credit report can give you a hint. You may also want to note if 30 per cent of their monthly income can cover rent. If you’re leasing to students or others who can’t afford property on their own, you might consider a co-signer and that they apply as well. If a potential tenant is self-employed, request for bank statements and tax returns.
A thorough background check is needed to verify all information supplied by an applying tenant.
It’s ideal to have a tenant that’s around to pay rent regularly and for as long as possible. Do they have family in the area or a full time job nearby? These are some factors that could decide the longevity of their stay on your property.
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