Who is your perfect tenant? Today, we’re talking about some of the attributes in a perfect tenant, and what you can do to find that tenant, every time.
Good Tenants Communicate
Communication really is everything with your tenants. Are they providing you with the correct contact information up front, and are they asking the right questions? We like tenants who ask us how to pay rent, how they can pay their deposit and how they can submit maintenance requests. We have found that the more questions asked, the better. Most tenants ask up front how they can pay rent. We provide an echeck auto pay feature, which tenants appreciate when paying rent. If you can offer some form of electronic payment feature, that will save you time and money, resulting in you having to go to the bank less. Millennial tenants especially like that option rather than mailing a check. A perfect tenant pays on time and communicates if they know they are going to be late. That’s beneficial for us and you as an owner. We recommend setting up those terms in your leases up front so there aren’t any questions or miscommunications in the long run.
Good Tenants Maintain Property
Another sign of a great tenant is someone who maintains your property well. We drive past the properties we manage on a quarterly basis as well as every time a tenant renews their lease to keep tabs on condition. If you’re not doing that yourself, you should start today. When you see that your property is starting to deteriorate on the outside, that’s usually a sign that something is going wrong on the inside. You need a tenant who cares about your property. A good tenant will follow the lease, water the yard, and let you know when things need to be repaired. You always want to know when maintenance is needed so that the condition of your investment does not deteriorate.
Screening Tenant Background and Income
One of the most vital parts of our screening process is to verify all applicant’s income. We have found that tenants who remain in a job longer than two to three years are usually going to stick around and have more stability. They aren’t jumping from job to job. We highly recommend checking income history by providing check stubs and talk to previous landlords about their rent-paying history. Prescreening really is the key to finding out a little about who your tenants are before they take over the property.
Avoid High Maintenance Tenants
High maintenance tenants are in a class of their own. Most, constantly call and email, submit unnecessary maintenance requests and are the ones to take to social media to blast any negativity. There always needs to be a good balance between high maintenance tenants and quiet a quiet one. A quiet tenant is normally a good tenant. In the beginning, a little hand-holding and guidance can be a good thing. Do not be afraid to take the time to explain how your rules and leases work. We like close communication, but we don’t like to smother tenants. If a tenant has questions or problems, they will come to us. Too much communication either way can be detrimental. If you have any questions about our screening and qualification process, please check out the next blog as well. Contact us at CrossPointe Management Group if you would like to hear more about Tyler Property Management.