As a leasing agent, you might have developed your system on what to do once a property rental opens up for occupancy. You check if everything is in place with the rental and if the landlord is ready to take in new tenants. After that, you would probably start marketing the vacancy using a reliable website like Padleads. Padleads will allow you to post your property listings and syndicate them to other places online.
Now that you’ve got that covered, you need to move on with screening the potential tenants. I know you’ve had your fair share of applicants, but do you know how to spot the good ones? You know what you are looking for but knowing how to identify them needs practice and experience. Today is the day you will hone and refine that skill.
The Attribute: Diligent
All landlords want to have tenants that are responsible for doing their part in paying the rent on time. Good tenants know it is wrong to make their landlords wait and make late payments. They know how to follow the rules set in the lease agreement.
How to spot them:
The best way to identify these tenants is to run a thorough credit check. Conscientious people are consistent in paying their bills on time. You should not check their FICO score alone but also their payment history. Do they have a record of late payments? If you see a pattern, consider it a red flag. Learning how to read a credit report is an additional skill you should develop because it will work to your advantage.
The Attribute: Unargumentative
Unfortunately, some landlords experience tenants who like to sue. I know property managers should avoid lawsuits as much as possible. However, some renters like the idea of filing lawsuits and getting money. They will go out of their way to look for something to complain about to the landlord.
How to spot them:
You cannot identify these people without doing a background check. A tenant applicant will likely put his best foot forward to impress leasing agents. The best person to talk to is a previous landlord. They can give you the information that the tenant did not disclose. If the renter did it once, he might do it again.
The Attribute: Low Maintenance
Some landlords have had demanding tenants before. You know, the ones who call and call about every little thing. These people would insist on getting what they want and expect the landlord to give in. Tenants like these are exhausting to satisfy, and they will always find something wrong. Property managers would prefer low-maintenance clients who would not pester them about not having the newest appliances or better paint color.
How to spot them:
Again, you need to do a meticulous background check on the applicants. Your source can be the previous landlords for this. Do not hesitate to ask them if the tenant is demanding or not because it will save you and the landlord a lot of trouble.
The Attribute: Possible long-term clients
We all know that a lease has an end date. At the end of a contract, the tenant is free to go. However, they also have the option to sign a new lease with the same landlord at the same rental. It is easier for the property owner to have tenants who will stay long-term because they won’t have to go through all the steps again.
How to spot them:
You will have plenty of opportunities to talk to the tenants. You can ask about their plans for the future. They might mention wanting to build a life with their children and loving the neighborhood. If they fail to bring up renewing their lease, it is safe to ask them directly. You can also check their rental history to see if they’ve been moving around.
And there you have it. If you’ve reached this part, I can safely say that you can spot good tenants without difficulty. You are all set and good to go.