Old Bay Insurance Agency Blog
The importance of good tenants can’t be emphasized too heavily. Bad tenants will not only destroy property but also abuse your payment schedule. On the other hand, good tenants will not only help you earn passive income but also give you good feedback. Here are five ways to get good tenants for your rental property.
Seek Professional Advice
Ask for help and advice from the most experienced professionals when it comes to your business. Ask them any question that you can think of about rental properties. Ask where to buy the best properties. Moreover, ask about how to handle potential problems. Also, increase your number of good connections with these professionals.
Get a Good Rental Property
After you’ve consulted with the best professionals, buy properties according to where they told you to buy. However, it is best to buy from properties located in areas where people really want to live. You may also purchase properties from locations which are easy to sell later on. Go for properties that can potentially have more than 100 tenants making inquiries within the first week. Excellent rental properties attract good tenants.
Screen Tenants Online
Screen tenants really well. Bad tenants are a lot like all the bad guys you see on TV and in the news. Although most people are law-abiding citizens, make sure that your renters are the good ones. Pick the ones that your research and your gut tell you are right. Do your best to find out what their credit score is, and make sure they don't have criminal or psychiatric records at least. You must schedule rental property showings after working hours.
Screen Tenants Again at the Showing
As you meet the tenants in person, make sure that you screen them again. Ask questions and wait for their answers. You may also allow them to ask the questions. You can more or less guess what they’re like as they interact with you. As long as you don’t make any judgments as to race, age, sexual orientation, or religion, then you have no problem.
Ask the Right Questions
Ask them questions like why they’re moving, whether they have pets, or if they got any references from employers. Ask about whether they have cars or if they smoke. Moreover, ask if they’ve broken any rental agreement before. Once you’ve made your choice, make sure you take care of your tenant very well.
Some Final Words
It’s not easy to have rental property. You have to choose the best tenant that you can get. Follow your gut feeling but do your homework as well. The research and investigation will be worth your while. Make sure too that you take care of whoever you've chosen. The best tenants can have the best referrals also.
At Old Bay Insurance Agency, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (410) 777-5390. Get your free quote today by CLICKING HERE.