A Guide on How To Find Good Tenants for Your Rental Home

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A Guide on How To Find Good Tenants for Your Rental Home

Whether the money you receive from your tenants is or isn’t your primary source of income, it’s still money you need in your pocket. Unfortunately, dealing with tenants who don’t pay rent on time or are just plain disruptive can mess with your cash flow. Here’s a guide on how to find good tenants for your rental home so that you can secure the safety of your property and your money.

Advertise to the Right People

While it is useful to know tips on how to market your rental property, your first priority is to make sure you direct that marketing to the right people. Instead of just sticking to flyers and signs, conduct some of your marketing online. There are many websites where you can post your listings and chat directly with potential homeowners. This way, you can get to know them from the beginning.

In addition, you can view prospective buyers’ profiles. This will show you who they are and what they want. While a name and a face may not be much to go off of initially, it can give you a good general idea of who they are.  

Communicate Your Expectations

The best way to ensure your expectations are understood and followed is to have your tenants sign a rental agreement. A rental agreement will go over who is responsible for repairs, whether pets are allowed, a noise curfew, and other various details of what you should expect. This contract is legally binding. If it is not followed, you have the grounds to remove the tenant quickly.

Conduct a Background Check

Suppose you don’t have a property management company to do background checks for you. In that case, there are websites where you can conduct criminal background, income insight, and eviction history checks.

Also, if you feel it necessary, you can ask the tenant for references from past landlords or HAOs. That way, you can better understand who the tenant is and if they’re responsible enough to pay their rent consistently.

Ultimately, it is up to you to decide what makes a good tenant. You’re allowed to give leeway and negotiate. But hopefully, this guide on how to find good tenants for your rental home gives you a better idea of how to get what you’re looking for. Your money is your livelihood, so start ensuring the safety of your income stream today.