7 Steps to Finding Great Tenants

7 Steps to Finding Great Tenants

One of the common questionswe receive from landlords is how to find and qualify the best applicant for aproperty.If you already figured out how tomarket the property you have attractedsome applicants but now you have someonewho wants to rentyour property.How do you decideif they’re going to be a good tenant ornot.That is the key to everything elsewhen it comes to property management, because if you can find a good tenant who’s going to paythe rent on time and who’s going to takecare of your property that’s going tomake almost everything else easy.

At the end of the day, that’s what we, as a property management company,primarily going to get judged upon.If we find a good tenant for a propertythelandlord is going to think we’re thebest property management in Philadelphia.If wecan’t get that right we’re probably not going to get that great impression, so hereare seven criteria areas you want to

make sure you research with an applicantwho is interested in your property.

  • Rental history

It is imperativeto ensure how long have they been intheir prior property and what was their

payment history.As a landlordyou’re not looking for someone to be onyour property for six months or a year, you wantsomeone to be there 3,for 5, or even 10 years.There have been tenants whostayin one propertyfor 30 years and paid off the owner’smortgage over those 30 years. It ispretty rare but that’s whatyou’re looking, for that long-termquality tenant.

Check applicants’ rentalhistory andtalk to their current as well asthe prior landlord.The current landlord maygive them a glowing recommendation justto get rid of them, go back to their prior landlord that’s the one that willgive you the honest assessment.

  • Credit score

We can use the credit score to determinewhat kind of an individual this is asfar as paying their debts.

  • Criminal background

You want to havepretty high standards for what you willconsider when it comes to a criminalbackground check, are you going to allowmisdemeanors?Did you know that mostspeeding tickets show up on a criminalbackground report?

  • Eviction background checks

Youwant somebody with zero evictions, if there have beenfiled evictions against this individual you should keep looking. However, check with your local laws if you can have a blanket ban on evictions.

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