How To Qualify a Potential Tenant
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If I List My Property in a Homes for Rent Database, How Do I Qualify a Potential Renter?
Before you decide to list your property in a homes-for-rent database, you should have a plan to qualify potential tenants. If you are new to the apartment and rental industry, you may not be aware of or knowledgeable about how to qualify and screen potential tenants. But this is a process you should learn as it will protect both your property and your bank account.
It's important for prospective tenants to understand the process, too. As a renter, you should be both aware and prepared to provide information that makes a landlord comfortable with renting to you once you find a house you want. So, what's involved in an adequate tenant qualification? Here are a few critical issues to consider.
- Credit analysis. Tenants who have a history of meeting their financial obligations are obviously preferred. If a prospective tenant has less than perfect credit, they still may be good choices if they have a satisfactory explanation for some prior problems.
- Employment verification. Before you sign a lease agreement, you should perform at least a simple telephone verification that your prospective tenant(s) are employed at present at the job(s) they have indicated on their rental application. If your potential new tenant is self-employed, ask for some verification of his/her business.
- References. Ask prospective tenants for two or three references of prior landlords and prior addresses. If they were good tenants in the past, they probably will be acceptable to you.
While the percentage of problem tenants is relatively small, landlords should screen potential tenants carefully to hopefully ensure they have found a good match. Tenants should be prepared to provide some evidence of their credibility to a landlord when they find houses for rent they want to occupy. If they are prepared to reinforce their ability to manage the rent and maintain the property, they will find it easier to rent the home they want.
The above-listed tip is for informational use only. Always read entire specific documents and language before executing any contract or agreement.