A proper screening of potential tenants is a must when you are giving out your home on rent. It will help you to analyze if the renter is suitable for your property. A good tenant can save you from problems like late rent or high expenditure on repairs.
Listed below are some questions that every homeowner must ask his potential tenants:
Why are you moving?
Asking this question can tell you a lot about the tenant. Find out the appropriate reason of moving such as a job change or family requirements. Watch out for the tenants who are shifting because of eviction or were involved in a dispute with the previous landlord.
When do you plan on moving in?
Most landlords require 30 days’ notice to terminate a lease. Sometimes the tenant may be in a hurry because of a number of reasons like sudden job transfer or domestic abuse. Make sure you take the decision after considering all the aspects.
What is your monthly income?
Putting up this question is important to know that your potential tenant can pay the specified amount of rent. Make sure his monthly income is not less than 3 to 4 times the rent. Remember that the tenant’s debts can also impact his ability to pay on time. You can also ask about his credit history to know about the pending debts. Verifying details about the employer can be beneficial for you.
Can I ask for references from your former landlords?
Do ask the tenant about references from previous landlord to make sure you are renting out your rental property to the right person. The landlord can provide you with honest details about any eviction and late rent. He may also tell you about the tenant’s general code of conduct. This can help you to make the correct decision.
Do you consent to a credit and background check?
If a person gives a positive response to this question, it means that he is not hiding anything from you. This will help you to confirm his identity including the name, current and past address, social security number. You can also check his criminal records. After verification, you may qualify the tenant for your rental home.
How many people will be living in the house?
It is necessary to know the number of people who will be living in your rental home. Ideally, there should be not more than two people per bedroom. While a smaller number of residents may cause less damage to your property, reducing all the extra expenses on maintenance.
Do you have a pet?
You can ask the tenants if they have plan to keep a pet. In case you have a pet friendly home, you may allow them. If you have a ‘no-pet’ policy, you may take your decision accordingly. Also make sure you clearly mention about this policy in your rental agreement.
Are you planning to stay long term?
Ask your tenants if they are willing to sign a long term lease, which is usually 6 months or 1 year. It can be an added advantage for you as it will reduce the vacancy rate and maximize returns from your investment.
Can you tell about your lifestyle?
You can inquire about the tenants’ lifestyle by asking them if they have night shifts or if they go for late night parties. This can help to choose a tenant based on your preferences. Make sure you do not ask him about his origin, religion and race as it can violate the fair housing laws.
These questions will help you to learn a lot about your potential tenant. You may rent your property to the one who gives a positive answer to the above mentioned questions. You can even hire a professional property management company. The team will conduct a thorough tenant screening to help you find a trustable renter.
Property Management Plano provides complete tenant screening services to the clients. The real estate agents can help you choose the perfect tenant for your rental home. For more information, you can visit N Central Expy, Plano, TX 75074.