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Managing a rental property isn’t easy. Whether you’re leasing out a single home or a large complex, you want to be sure that you find tenants that you can trust. Here a few easy ways you can make sure you’re renting to the right people before you hand over the keys:

Look for tenants with stable finances.

You want to know that the people moving into your property are financially responsible. If a potential tenant has a poor credit history, that could be a sign that they might struggle paying rent on time. You’ll first need to verify their employment or source of income by requesting pay stubs or other proof of earnings. As a general rule, your tenant’s monthly income should be three times the cost of rent. Next, run a credit check to be sure your tenant doesn’t have an unreasonable amount of outstanding debt, prior evictions or bankruptcies on their record.

Perform a criminal background check.

You need to protect your property, other tenants and neighbors from applicants who could have violent backgrounds. Criminal histories are typically public record and can be accessed by anyone as long as you have the correct name and birthdate, however looking for this information on your own can be tedious and time-consuming. Fortunately, we just happen to know a few people who can help you out (hint, hint: it’s us).

Trust your instincts.   

If something feels wrong, it probably is. Your potential tenant could have glowing finances, but maybe they have a history of breaking leases (or windows). On the other hand, you could have an applicant who doesn’t look great on paper, but your gut tells you that they’re someone who went through tough times and is trying to get back on their feet. Either way, your instincts will tell you if the person is the right fit.

Whenever you’re looking for new renters, be sure to follow all of your state and local laws regarding fair housing practices. If you have any questions about how to conduct background screenings on your potential tenants, our team is here to help. Give us a call today!