Are They ‘The One’? – Finding the Right Tenant
You know the feeling. Your knees get weak, your palms sweat, and your heart starts to race when you think of them. No, not the love of your life, we’re talking about the perfect tenant! The tenant that pays rent on time, maintains your property well, and stays for years without giving you the headache of dealing with frequent turnover. The ‘unicorn’ of property management. Rocklin CA owners can get this tenant out of their dreams and into their house with some simple tips from Real Property Management Select.
Step 1 – Credit Check
No matter how perfect a tenant might think they are for your home, the bottom line is they have to be able to pay the rent. Make sure that applicants have a combined income of at least 3x the monthly rent price. This way they’ll be able to pay rent as well as other bills and costs of living. Rocklin property management Real Property Management Select also suggests you have a credit check done to see if they’ve had evictions or judgements against them in the past, as well as request explanations for anything you find concerning. You should also verify employment as well as income.
Step 2 – Rental History Check
While digging up the past may be generally bad for most relationships, it’s essential in property management. Rocklin CA owners should verify applicant’s past 2 years of rental history to make sure there are no evictions, late rent, or damage done to propertied they’ve rented before. This is one area where owners can learn from others’ past mistakes in order to avoid the hurt of having to ‘break-up’ with a tenant who can’t commit to paying on time.
Step 3 – Background Check
Rocklin property management company Real Property Management Select recommends a criminal background check for all applicants over 18 years old. This will let you know if an applicant has a history of drugs, theft, violence, or sexual offences, which could potentially bring liability and concerns for you as well as others in the neighborhood. Conduct a thorough reference check by speaking to employers and colleagues, not just friends and family. It’s always good to know who you’re getting into a lease agreement with!
Finally, it’s always prudent to know the laws surrounding property management. Rocklin CA owners are subject to certain laws that affect the applicant process. Be aware of all housing, discrimination, contract, and fair credit reporting laws throughout the screening process to ensure you’re not breaking any of them. Yes. It is a big investment of time. Alternatively, you could avoid the heartache and allow Rocklin property management experts Real Property Management Select to navigate the process for you and find the tenant of your dreams! Learn more about our comprehensive list of services today.