Finding qualified tenants isn’t always as easy as it seems. Let’s be honest, there’s nothing sexy about industry standard best practices for tenant screening. But if you’ve ever heard a horror story about what it’s like when renting to bad tenants, you’ll understand the importance of this post. If you’re fortunate enough to stumble upon this blog without a terrible tenant experience, lucky you! This post will shed some light on what you need to know about each tenant and expert advice on standard practices when screening tenants.
After reading this post you’ll know the four key areas to uncover about your tenants and why they’re the most important to your success when managing rental properties for profit.
What’s the deal with bad tenants?
Calling all renters! If you’ll be searching for a new home in the next few months, I’m about to introduce you to your new secret weapon. Why will you need a secret weapon?
The rental market is really busy, which means the rules are changing. If you want to score a great home and avoid a lot of headache, there are a few facts you must know:
• There are more renters (read: competitors) than the last time you searched
• The best homes are rented to new tenants within a week after being listed
• Average applicants usually settle with a boring, average, or overpriced home
I’m a city renter myself, and I’m well aware of the frustrations and problems we face in the hunt for a new place. When you’re competing to rent a home that’s in great demand, you need more than the law of averages on your side.
• How do you stand apart from the other 20 people that also applied?
• How do you convey that you are the best possible tenant?
• How can you AVOID rental application hell & paying numerous application fees?
There is one easy answer for all of these questions: you need to stack the deck in your favor by being organized and standing out!
To stand out, you need a “Rental Resume”! Let me show why, and how it can drastically help you. Continue reading