Finding top-notch tenants is not easy, especially when people can have better first impressions than what is below the surface. The quality of your return as a landlord, however, depends very heavily on the quality of your tenants, so you do not want to take the search lightly.
Here are a few of the top characteristics to look out for.
- A tenant who is not litigious. Obviously, landlords are less likely to get sued if they are good landlords who abide by the law. But there are also tenants out there with a history of suing landlords for any and all reasons, which means they have a mindset you might want to avoid.
- A tenant who is low maintenance. Contact their current and former landlords to discover how often they were contacted by the tenant. Were they unnecessarily needy and demanding?
- A tenant who is conscientious. Look for things like whether the potential tenant has consistently paid their bills on time. Run a credit report, if possible, too. If they do not yet have their own credit history, require a co-signer before agreeing to rent to them.
- A tenant who is clean. Tenants who do not live a clean and tidy lifestyle often cause more wear and tear to your property, which we are sure you would like to avoid. Consider walking them back to their car after a viewing to see how they take care of its interior; this can be a good indication of how they treat their homes.
- A tenant who is not a big partier. Parties cause wear and tear, so it is best to avoid a tenant who is likely to have one every weekend. Do not discriminate based on age, but pay extra attention to those in the University age range; contact their current and former landlords to see if they are aware of this type of behaviour or not.