How to find a good tenant

How to find a good tenant

Hey my friend, today I'll talk about how to find a great tenant for your property so you can avoid a lot of headaches for the future.

Welcome to Wealthy Wednesday.

So, the number one thing you can do is to offer the rent a little cheaper than the market. Because once you keep it a little cheaper, then you get more offers for the property and then you have more choices to pick from. So that's the one and also comparatively other properties out there, it will be affordable. So it's a little cheaper and that's number one.

Number two, definitely do the background check. Credit can be messed up for different reasons, but definitely do a background check. You can go to any website, the tenant screening website, and it's like $100 or maybe sometimes less. Sometimes you can even do for $30. So anyhow get a tenant screening check. That is very important. There is no rush. It's better to wait a little bit at the beginning because this tenant is moving at least for a year. So that's very important. That's number two.

Number three is check the job history. As long as this person has a secure job, you know they're not traveling from one job to other job, that's a no-no, that's a red flag. Someone is working for one particular kind of job, means they like the job, they're going to stick to that particular job for a long time. And the secure job like a good job, very important because they have to cut you the check at the end of the month or beginning of the month. So that's very important. Check that.

And number four, do not call the landlord. I know there's a traditional way to call the previous landlord to check what kind of tenant was this person? But think about this. If this tenant was a bad tenant, you think that landlord is going to give you a bad report? No, because that landlord wants this tenant out of their property. So regardless, it's a good tenant or bad tenant, the previous landlord is going to give you always a good report. Because they don't want them if they're bad. So do not call the previous landlord.

So, these four steps you definitely follow and number five additionally is normally we ask for first month, last month on the deposit, three months or the first month or two deposits. Make sure they bring you that. If that tenant does not have that savings, tomorrow something happens how are they going to pay? Maybe some month, they didn't work full hours or so, they got a paycheck cut. How are they going to pay? So make sure that they have that little savings habit. So they bring you that three months. Previously I had experienced that when someone comes in and most of the time and they say, oh, I have one month or two months, whatever, break it down. It did not work out. That's number five the bonus tip.

Hopefully this information is going to help you find the right tenant for your property. Give me a call if you have any questions. My name is Shawn Bhakta from REMAX Presidential, South Florida Home Finder Team. I'm glad to help.