How to Find and Keep Good Renters for Your Rental Property

    One of the hardest things for those who own rental properties to do is find reliable renters who pay on time and keep the property in good condition while they are living in it.

    In many cases, the tenant seems to be a good renter upon approval, but they quickly begin to miss payments or cause issues with the condition of the property.

    With these five insights, however, you can ensure you are always able to find good renters who are trustworthy and reliable.

     

    Advertise The Right Way

    The first step to keeping good renters is to be able to find them. The manner in which you advertise in many cases dictates the type of tenant you are going to get.When advertising to find new renters, be sure to stay away from websites such as Craigslist – which tends to attract more unreliable tenants – and stay on the more trusted rental sites, such as Zillow.

    Along with online advertising, the old-fashioned technique of word-of-mouth and handing out fliers can prove useful as well.

    Verify Income and Check Credit

    To give yourself the best chance at finding a reliable tenant and ensure you are following the laws appropriately, it is important to consider each and every potential tenant.

    When doing so, be sure to verify their income and check their credit. A good rule to follow is to only choose renters who make three times more a month than the rent payment and stay away from potential tenants that have had problems paying rent in the past.

    Be Honest Upfront

    In many cases when a renter is not staying up-to-date on payments and breaking rules established in the contract, some of the blame can be placed on the landlord.

    It is important to establish guidelines upfront – including the date rent is due each month, pet policies, etc. By being strict upfront and then becoming more laid-back as the tenant proves trustworthy often works better than being relaxed initially and having to constantly pressure the tenant about paying.

    Conduct a Background Check

    While ensuring all state laws are followed, it is important to conduct as thorough of a background check as possible. Doing so allows you to verify the tenant is who they say they are and does not have a serious conviction that is cause for concern.  

    Criminal information is public record and you can access most of one’s criminal history at the courthouse. Most convictions do not create a cause for concern, but a serious sex offender or one who has a history of violent crimes may not make for the best tenant.

    Keep The Property in Good Shape

    After finding a reliable tenant, it is important to return the favor and be a trustworthy landlord, which should include making timely repairs whenever necessary and simply treating them with a high level of respect.

    Treating a good renter with respect ensures that they want to stay long-term, which means no more thorough searches for the next good renter.

    EXIT Realty Bob Lamb & Associates is Murfreesboro’s most innovative real estate team.

    EXIT Realty Bob Lamb & Associates
    2630 Memorial Blvd, Murfreesboro, TN 37129

    (615) 896-5656

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