800-515-0496
Landlord/Tenant Course Navigation
Quality Tenants + Quality Landlords
As a tenant, you are screening the landlord as much as the landlord is screening you. You are the one who will be living there, spending your nights and days, and leisure time at the rented dwelling. Turning the rental unit into a home. Think carefully before renting. Interview the landlord. Find out why the last tenant moved? How long was the last tenant there? Did the previous tenant move out or was he evicted? Can you see yourself living there? Is it close to places you need to go - work, school, daycare, shopping. What is the policy on overnight visitors, how about parking? Is there plenty of parking? What are the neighbors like?
Landlords, how do you attract the tenants who will pay on time, won't disrupt or disturb neighbors, will maintain their space properly, and stay for a long time?
Look at your role as a landlord from a sales perspective. Your responsibilities are to fill vacant space, maintain the property and deal with tenants. An effective sales approach to each of these tasks will go a long way in determining your future as a landlord. Market the property by looking at it through the eyes of your prospective tenants – and that starts with a first impression.
Make a good first impression
Both prospective landlords and prospective tenants need to put their best feet forward. Be business like and engaging. Ask questions, but don't interrogate.
As with any first impression, appearance matters. Studies repeatedly show that the two main factors affecting prospective tenants' decisions are:
1) how the manager behaves and
2) the appearance of the unit.
Your physical appearance should be neat and professional yet casual. Using notepads and checklists show that you are organized and interested in providing good service. The building should be clean, clutter-free and show no signs of unusual wear or damage.
The most efficient way to uncover as many facts about your prospect is to have him fill out an application, conduct an interview, check credit history and contact references. Create questions for the interview that expose attitude, preferences and personality. Laws prohibit landlords from asking questions that are too personal, but if the questions are reasonable, applicants can be expected to answer them.
Don't ever take a shortcut and skip the part about checking out your tenant before renting to him. It is much easier to tell a tenant he did not qualify for your rental than to try and evict him later. Do your background checks right away. It is up to you what you will or won't allow in a tenant's history, providing you are not discriminating regarding race, religion, etc.
Advertising
Where and how you advertise the property will also affect the response you receive. If you advertise online, be aware of the impression you're making. Different online sites attract different types of people. If you run a print advertisement, choose a publication that your best potential tenants typically read. The local newspaper is a good choice for a general audience. Placing an ad in the classified section in the back of regional or trade publications has been effective for some multi-property landlords. Distributing flyers at locations known for attracting the quality of person you seek is another method to use. Announcing a vacancy in the neighborhood where your property is located can attract tenants through neighbor referrals. The important thing to remember is to choose a method that will allow you to effectively target tenants that will have the qualities you are looking for.
Use sales words to attract tenants
What you say to attract tenants is important. One common practice is to describe the property and list the price; however, if you place a general, run-of-the-mill advertisement you will likely get responses from a broad, run-of-the-mill audience. Property rental should not be viewed as a commodity trade (cash for space). You'll be entering into an extended relationship – generally a minimum of one year – so you'll want to approach a "sale" of leased space with a long-term attitude. Use terms in your ad that will interest the specific tenant you seek. For example, if you are attracting tenants for a trendy metropolitan property use terms like "step up to your new lifestyle" or "around the corner from (the city's) vibrant nightlife". Tap into what appeals to your prospects.
Choosing Tenants
Many property managers announce a vacancy and simply accept whatever applicants respond. We recommend that you be much more proactive and carefully screen your applicants. On the application ask permission to pull your tenant's credit report; and permission to run a criminal background check. Collect all the personal information that you can, including date of birth, social security number, and addresses for the past several years. Inform the prospective tenant that you will need the same information for everyone in their household. Some landlords charge application fees.
Some of the basic information to collect on a Rental Application are:
1. Credit history – By examining an applicant's credit history, you may be able to judge whether he will pay promptly; how he uses credit; and his debt level.
2. Previous tenancy – An applicant that has a stable rental history bodes well for a long-term relationship, but movement year after year may indicate instability. Call up the previous landlord and ask for a reference. Take whatever they say with a grain of salt, they may just be happy to rid themselves of a trouble maker and will say anything to move him along.
3. Job/business history – Length of time in his present job is important. Someone who just started a new job, may be a job changer, or may have been fired from the previous job. A solid employment history shows responsibility.
Choosing Landlords
Experienced landlords are usually better landlords, because they know the rules; they know their rights and responsibilities; and they know the tenants rights and responsibilities as well. First time or novice landlords might think they know the rules, but some are woefully unprepared for the reality of being a landlord. So, while the landlord is checking out your credentials, check his out too.
- Go to the county tax assessor's site and make sure the landlord actually owns the property, if he has presented himself as the owner;
- Ask the landlord how many other rentals he has - this could give you an idea of his experience;
- Also ask the landlord how long he's been a landlord - also goes to experience.
Copyright 2010-2023. All rights reserved.