When choosing the perfect tenant for your rental property it is important to go with your gut feeling. If something does not feel right, deny the applicant. This is your property and your investment and sometimes your gut feeling is the best indicator of a good and bad renter.
It is however important to differentiate between a bad feeling and nervousness about renting your home to anyone. With proper tenant screening techniques and thorough due diligence the risk associated with renting can be minimized. When renting your home for the first time you will most likely be nervous and have some doubts about the entire process. Don’t let this feeling cause you to pass up a great tenant for your property.
Many times when home owners get in tough situations economically there are a wide range of emotions that enter the context. These emotions can really hinder one’s ability to think things through rationally. This is why hiring a qualified property management company can be very valuable in this type of situation. Property Managers are able to approach these situations objectively and without bias to your feelings and emotions. A good property manager will handle all of the tenant screening, background checks, employment verification and rental history verification. They should then present you with the information, if requested, and help you make an informed decision. If you do choose to handle this on your own you can use a company like CBC Innovis for your tenant background checks.
Often times when properties have sat on the market landlords will get antsy to find a tenant and get income rolling in. Just remember that a bad tenant can cost you more, in the long run, than a vacant home.
Use your head and your gut to make a sound choice regarding your tenant and maximize your rental income while minimizing your risk.