Finding good renters is about the strategies you incorporate into your search and marketing methods. As a landlord, one of your initial tasks is to market your property to reach available renters and pique their interest. To help you implement strong advertising methods and develop a list of possible renters, here are four steps to finding good renters based on your needs.
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1. Use Effective Background Checks
Ideally, to market your rental property like a realtor, the best tenants will be those who can financially support themselves with little need to prove this to you. From the start of their background checks, you should be able to see that they are who they say they are and that they are financially secure.
For every renter you are considering, be sure to run an eviction background check on them. You don’t want to settle for anyone who does not hold up on paper. Be aware of any red flags like debt, unpaid utility bills, and poor credit. Find a list of the best background check services here.
2. Market Using Rental Sites
The most efficient way to get your property listings out there is to utilize rental sites that financially secure individuals generally flock to. Renters who are confident in their ability to rent will be more likely to use these sites, which already places you in an excellent place to start finding renters.
Stay away from general ad placement sites like Craigslist, which lack privacy and security, and focus on rental profile information based on what is given using the rental platforms. You can also list your ad on room and board websites if you are open to more flexible leasing arrangements. You will gain more interest the more relaxed you are with your lease terms.
3. Be Clear In Your Listings
Wherever you choose to post your property listings, be sure to include all of the details pertaining to your property and lease requirements. The last thing you need is a million phone calls asking about your rental by people who do not meet your expectations as renters.
You can even make a “do not call if” list on your ads to avoid getting unwanted callers. Be as upfront as you need to be to handle things well and protect yourself as a landlord.
By listing all of the expectations from the start, you can feel more confident that interested callers are more likely to meet your needs as renters. Be sure to include all relevant information, including your lease terms, your pet policy, how utilities are handled, etc. You want your potential tenants to have all the information from the start, so there is no confusion.
4. Meet People In Person
Anyone who presents well on paper should be willing to meet with you in person for a property showing and to go over the lease terms. Consider the character of the people you meet with, their reasons for moving (job relocation, green moving, divorce, etc.), and whether or not they meet your expectations for reliable renters.
Also, ask important questions to get relevant information on tenants. For example, ask whether they play loud instruments, what their typical work schedule is like, and so on. If you have older adults in your building, you might not want to welcome anyone who stays up late or is overly loud. Be mindful of your current tenants and how they will feel about any newcomers moving in.
The Bottom Line
Deciding on the tenants you want for your property should not be a rushed decision. Don’t let poor advertising prevent you from finding the renters you need. Use rental platforms, use effective background checking, and meet with potential tenants in person to make your final decision.