Key Factors to Find and Select the Right Tenant for Your Property

Key Factors to Find and Select the Right Tenant for Your Property

Tenant screening is an essential part of owning or managing a rental property because it can save you a lot of money, legwork and headache in the future. Screening your tenants also prevents you from getting tenants that are known for being late on payments, causing nuisances and it can also give you peace of mind when you finally sign the lease papers. If you are landlord having houses for rent in La Mirada, read the list below which features the important steps that every landlord must adhere to while screening tenants.

Written Criteria

Have a set of written criteria which considers several factors that every applicant must meet to be accepted. Some of the common criteria are, a tenant should have a verifiable income 3 times the amount of the rent, or a credit score of 6oo or above, or never been evicted or been in rent court.  Verify whether the written criteria you have framed go in line with the bounds of local/state/federal laws and after verification apply them consistently.

Formal Application Process

Add a formal application process that includes an application which is to be filled out by the prospective tenant. The application should feature the following fields,

  • Name
  • Current address
  • Gender
  • Single/married
  • Occupation
  • Number of Family Members
  • Pets
  • Source of Income and more.

Application Fee

Charge an application fee based on the regulations of your local laws. Filling out the application and paying the application fee is the first obstacle a tenant must get over. If they fail to fill out the form in its entirety or pay the fee, they will not be considered as the prospective tenant.

Obtain the Credit Reports

In order to determine the credit worthiness of prospective tenants, get permission through a document to pull a credit report of the questionable. Obtaining credit report helps you to assess whether the SSNs and street addresses match. If it doesn’t, this means that the prospective tenant is trying to hide something from you.

Contact Current and Past Landlords

Get permission from the prospective tenants to contact their current and past landlords for a background check and to find out the reason why they are making a shift. If the prospective tenant has not given any proper explanation to the current landlord about the reason for leaving, then you should not count on him as a loyal tenant.

Learn to Say ‘NO’

If you aren’t satisfied with any details provided or the background check, then be robust enough to say no to choose the prospective client. Give written reasons for declining this tenant whether it was income, landlord input, your site visit, background check or more.

As a landlord with a number of homes for rent in La Mirada CA, don’t let your emotions control your decisions. This is because if you are strong enough to decline tenants based on several pre-determined factors you will never have to deal with tenants who become your worst nightmare.