As a landlord, one of your biggest concerns when it comes to your rental property is whether your tenants will be good or bad. There are many horror stories out there about bad tenants, and you don’t want to be the victim of one of them.
You may be stuck with a dilemma: You want to rent out your property as soon as possible, but you also want to ensure you pick respectful residents. The question is, how do you find good tenants for your house, condo, or apartment?
Here are some helpful tips for you to utilize in your search for the perfect tenants:
Create a Rental Application
Creating a rental application is an excellent first step in deciding what kind of tenants you want. However, knowing what questions to include can be complex and confusing. With the right set of questions, you’ll have a better understanding of who has the potential of being a spectacular tenant.
What To Ask For
- Personal references
- Employment history
- Any previous rental history
In addition to these inquiries, you may also want to state your requirements for the rental space, which can include:
- Specification of the rental price
- Whether you allow pets or not
- A required credit score
- No previous evictions
- No smoking in the home
This type of information will help when identifying the right tenant for your rental space.
Advertise the Rental Property
There are several ways to advertise your rental space. With the rise of the internet, there are many options to consider, whether it’s using Kijiji or other reliable rental websites to list your property in Canada.
What To Include
When creating the advertisement, ensure that the photos you take of the location are clear and up to date. The last thing you want is to deceive your future tenant. When writing about the rental property, you’ll want to break down the basics and specify what people may be looking for. E.g., $1050 – 2 bed/1 bath apartment with balcony and in-suite laundry.
Write some brief descriptions of the property and area, including the following:
- Specifications of the property’s best features and functions, such as whether it’s near a park, school, or mall, or has a fireplace, swimming pool, storage unit, etc.
- Discuss the area and neighbourhood. Use positive and descriptive words to boost their appeal.
- Details about the rental, like whether it’s pet friendly, has a laundry machine, new renovations, etc.
- Include contact information for serious inquiries and details about the application process.
The Selection Process
You may get several interested individuals or few to none. Be patient and do the proper background checks when going over seriously interested applicants. You may also want to brush up on the human rights code when it comes to rental housing.
What To Check For
The things you may want to check on include:
- The status of their employment
- Income requirement
- Whether they have pets
- Eviction history
- Any previous felonies
- Landlord references
Checking the boxes can narrow down the best possible applicant for your rental property.
Meet & Greet
It wouldn’t hurt to meet your potential tenant and show them the place. Most people will want to see the location before they get serious about wanting to move in. The meet and greet process is a good way for you to get a sense of what the applicant is like and whether you think they will be a good fit.
Remember to be respectful and as open as possible. Creating a welcome and trusting relationship with a potential tenant will go a long way in making sure your rental property will be treated well. There are many challenges when it comes to finding the perfect candidate for your rental property, and it can be overwhelming. There are Winnipeg property management companies that will do it all for you. Skip over the trials and tribulations of marketing and maintaining your property on your own, and meet with us today!