A landlord’s error in selecting the incorrect renter might be expensive. Here are five crucial questions landlords should ask prospective renters.
What you will discover:
1. Why are you relocating?
2. Do you have references from your previous work and landlord?
3. Are you willing to submit to a background/credit check?
4. How much money do you make each month?
5. Who will you live with?
6. Have you ever been kicked out of a house?
Do you have any pets?
8. When are you planning to relocate?
9. Do you intend to sublet?
10. Are you able to pay the first month’s rent and the whole security deposit on or before your move-in date?
When it comes to picking renters, it is difficult to predict who would be a good match. These ten questions may be useful.
Finding a tenant is simple. How do you find the perfect tenant? No, not always.
Being selective pays off even when prospective tenants are standing in line to see your newly painted apartment. Unpaid rent, costly maintenance repairs, and the legal expenses involved with an eviction may all cost a small-time landlord a lot of money.
So, how do you go about finding the right tenants? Simple: When interviewing prospective tenants, ask the appropriate screening questions. Sure, there is no guarantee that you will meet Mr. or Ms. proper, but finding the proper match is much simpler when you have the knowledge you need to make an informed selection.
Here are 10 important questions that every landlord should ask a prospective tenant:
1. Why are you relocating?
The potential tenant’s response may be as much of a discussion starter as it is a learning tool. It is not a positive indicator, for example, if a potential renter says, “I am moving because I did not like my landlord.” Search for responses such as “I am changing jobs” or “We need more space.”
2. Do you have references from your previous work and landlord?
Employment references confirm that the renter is working and earning a living—clearly important in determining if an application can pay the rent. In addition to the present landlord, get recommendations from previous landlords. If the existing landlord wants to get rid of this renter, he or she may not be completely honest with you if the tenant is less-than-perfect. You will have a higher chance of gaining an honest appraisal of the tenant’s reliability if you speak with a past landlord.
3. Are you willing to submit to a background/credit check?
If the concept of a background check makes your potential renter nervous, ask them to leave. It does not necessarily imply that the applicant has anything to conceal, but you have no way of knowing until you get their consent and then do the background or credit check. Stick to a straightforward policy: no background checks, no keys.
4. How much money do you make each month?
A timely rent payment should be at the top of your desire list. If you are a new landlord, it is possible that your notion of “affordable” differs from that of your potential tenant—do the arithmetic yourself. A renter should have a monthly income that is two and a half to three times the cost of the rent, according to industry norms.
5. Who will you live with?
If you take pleasure in maintaining a quiet, well-kept property, you probably do not want to find out that a dozen college lads are bunking down there every night.
6. Have you ever been kicked out of a house?
If you answered yes to this question, continue with care. There may be mitigating circumstances that exonerate the renter, but a past eviction is frequently a “red flag” sign.
7.Do you have any pets?
Make it clear if you have a no-pets policy from the start. If you do accept pets with a deposit, be sure to have all of the specifics in writing, including the number of pets allowed. But keep in mind that assistance dogs are not pets, but rather working animals.
8. When are you planning to relocate?
Make certain that your move-in dates coincide with those of your renters. Otherwise, your renter could come up with a moving van on the day you planned to have the carpets cleaned. Furthermore, if the renter is imprecise about the move-in date, it may indicate additional “vagueness” (which might translate as “irresponsibility”) in the future about crucial matters like move-out dates and rent due dates.
9. Do you intend to sublet?
If you rent out an apartment, home, or duplex and have a strict “no subletting” policy, you must state this clearly from the beginning. This might include short-term rentals such as Airbnb or VRBO.
10. Can you pay the first month’s rent and the whole security deposit on or before the day of your move-in?
If you need a FLS payment (first, last, and security deposit), be sure your renter can pay the total amount before moving in. If there is an issue, it might be a sign of additional “problems” when rent time comes around each month.
When screening renters, it is critical to be transparent, fair, and firm in order to safeguard your property and rental revenue. Remember that asking these questions is just the first step. Once you have found the proper renter, conduct those background checks, make those reference calls, verify paystubs, and get everything in writing with a Lease Agreement.
