How to choose the right tenant for your rental property investment? Becoming a successful landlord, the knowledge of how to do tenant screening is important! Else, choosing the wrong and problem tenants will screw up your return of investment eventually.
How to Choose Good Tenant?
Talk to Them. First, I reckon the tenant screening process for choosing the right tenant started from your first conversation with the potential prospect. Pay attention to the way they talk, how they ask question, and how they answer your question. Judge their altitude and manner throughout the conversation.
Meet Them Face to Face. Secondly, ask yourself what is your first impression on the prospect? Is the person come on time to view your property? Are they dressed well? Is their car well maintained? It gives you more idea on what types of tenant they are like to be in future.
How to Avoid Bad Tenant?
Get a Name Card From Them. It provides a lot useful information. Call up the company and verify the information provided and ask more details about them. Example: Are they leaving the company soon? Are they confirmed permanent staff or still under probation period? My main concern is, are they able to pay rental on time without a stable job and income?
What if the prospect does not have a name card? Don’t be shy, ask for their company name. If they refuse to do so and keep their profile mystery, are you comfortable to deal further with them? I won’t.
Visit the potential good tenant prospect’s current staying house if possible. Be honest, I come across few experiences with my ex-tenants who are really surprised me when notice their house is cleaner and much better maintained compare to my own staying house.
After visiting, I believe they are good tenants, it convinces me with lesser worries to rent my apartment to them. Fortunately, they did maintained my property well till the end of tenancy agreement.
This artilce originally appeared on Horlic