For most landlords, finding the best tenants for their property is the hardest part of renting out a home. Not only does the tenant need to be respectful of the property, but they also need to be able to afford rent month after month. If you’ve never had to screen tenants before, it’s easy to get confused or not know where to start. Here are a few qualities to look for when searching for the perfect tenant for your home rental.
3 Qualities to Look for When Searching for Tenants
1. A Steady Income
The last thing any landlord wants to deal with is having to force an eviction because a tenant can’t afford to pay rent. When screening renters, consider their monthly income. If they have roommates, make sure to take their income into consideration as well. Good tenants’ combined incomes should equal about three times the monthly rent amount. Any less, and you’ll want to consider asking for a co-signer.
2. Respectable and Reasonable Roommates
Roommates can make any home rental more affordable, but prospective tenants should be honest about who will be living with them. You’ll want to meet and screen each person that will be living in the house and you can only do that if it’s clear who those people will be. Ask about roommates and potential roommates upfront to get the conversation going.
3. Transparency About Past Evictions
Accidents happen and sometimes, tenants get evicted. Tenants that have been evicted in the past, but are now responsible renters will likely explain what happened to cause the eviction in the first place. You can always verify the information during their reference check, but if they’re honest and open about what happened in the past, you’ll be better prepared to proceed with the lease.
Finding the perfect tenant for your home rental can be tough, but it doesn’t have to be. Contact the team at Twin Cities Home Rental in Minneapolis, MN. As a locally owned rental property management service, they understand the challenges landlords face when finding and keeping quality tenants. They’ll take the hard work out of owning a rental property and handle the screening process for you. Once the tenants move in, they’re on hand to take care of everything from emergency maintenance calls to rent collection. Learn more about their services online and call (612) 822-4663 to schedule a consultation.