RENT OWN SELL
Newyork
RENT OWN SELL
Newyork
As a landlord, one of the most important decisions you have to make is who will occupy your property. While having the right tenant means a constant flow of income, the wrong tenant can cost you thousands of dollars and make your life miserable.
When it comes to finding the ideal tenant, it is also worth considering who will pay their rent on time and how they will take care of the property.
Here is how you can screen potential tenants during home showings.
1- Prepare for the Showing
2- Checklist for Preparing the House for Showing
3- Guidelines for Evaluating Tenants During a Showing
4- Questions to Ask a Potential Tenant During a Showing
An in-person visit is an opportunity for you to evaluate potential tenants and vice versa. There are no hard and fast rules for screening tenants; you just have to observe their conduct while they are in the space and use your best judgment. One way to do this is by showing the house. Stage the house in such a way that a potential tenant would find the place irresistible and submit a rental application.
Here is a Checklist for Preparing the House for Showing:
There will be all sorts of people who are going to visit your property during a showing. Most will want to tour the property and get details about its availability, and monthly rent, and will ask about the application process. You may also encounter people who seem overly enthusiastic or overly dramatic about the house.
They may take extreme positions either in favor or against the property, which could mean that they are trying to distract you from something they don’t want you to know during the screening process. This type of unusual behavior could be a red flag and you may want to exclude them from the list of potential tenants.
Small talk is normal when showing your house. But be careful if a person goes on to tell you stories instead of answering your questions; chances are they may be setting you up.
Some may pretend to be a victim in their stories and will reflect on some bad experiences with their previous landlords to win over your sympathy. At best, they will be laying the groundwork to make you second guess any negative feedback their previous landlord may have about them.
You are likely to run into people who seek exceptions to the normal application process. Those who start out asking for concessions are more likely to request exceptions for paying their rent late. Once you have set your criteria and screening processes, don’t compromise on it for any potential tenants who want to bend the rules.
Some people refuse to take responsibility for their actions. Others always find that the glass is half empty and continuously raise issues about the house. It is not like they are doing it because they have had perfection in life– it is their nature to behave that way.
How someone shows up for a showing is indicative of their lifestyle. If they show up in dirty clothing and in poorly maintained cars, you can deduce that they will take care of the house in a similar fashion.
You will have an opportunity to talk with potential tenants while showing a rental property. Before inviting a tenant over to your place, prepare a list of questions to ask them.
Here Are Some Questions You Should Consider Asking:
Once you’ve asked your questions, encourage your potential tenant to ask any questions they may have.
Screening tenants is a job in and of itself. Many landlords choose to hire professionals to do the job but, if you have a good understanding of what to look for and what should give you pause, you can perform the task yourself using a tenant evaluation form or some other tool you find helpful to document your observations about them.
