If you own rental properties, you want to place the best tenants into your property. A great tenant will consider your property like their own, taking care of it and dealing with minor maintenance issues on their own. To find these quality tenants, you must have an effective screening process. As tenant screening is usually easier said than done, it is often best to leave this task to an expert in Thousand Oaks, CA property management. When you trying to find the right tenant for your property, here are tips you can consider:
Learn as Much as Possible About Every Possible Tenant
Before you accept a tenant, try to learn more about their lifestyle. For instance, ensure they are employed and if they can afford to pay rent. Consider getting proof of employment by asking for a W-2 or previous income statement. You will need this information to make the best rental decision.
By asking relevant questions during the interview, you will also get a feel for an applicant’s personality. Sometimes, you might decide that something is off about a person that the paper does not say anything about or find that they are the perfect fit for your rental property.
Check their Credit History
The credit score of a possible tenant will tell you how good they are at paying their bills on time. You don’t want to rent out your property to an individual with a very low credit score, although some exceptions apply to this. Apart from credit scores, there are factors that will help you know if a person is a good tenant or not.
Ask the Applicant to Provide a List of References
Such references must be people like previous landlords, co-workers, and employers. Dependable references will tell you about their experiences with the applicant and help you narrow your decision down. For instance, an applicant may have a high credit score because of consistent payments but if a previous landlord you talked to said that tenant did significant damage to their property, this should tell that person is not the right tenant for you.
Work with a Property Manager
Screening tenants is usually quite tedious, so working with a professional property manager can be quite beneficial because they save you money, stress, and time. The best property manager has a tried-and-tested method of tenant screening and they will help you find the best tenant for your investment property.