Being a landlord can be challenging. You have to make sure the house you are renting meets local building codes, and you have to thoroughly investigate your tenants. Renting your home to irresponsible tenants can have disastrous results. In the end, you could be suing your renters for damages. You could lose out on rental income while you go through the eviction process of your rental properties.
Screening Potential Tenants
The screening process will eliminate most people who will not be quality tenants. When you properly screen potential tenants, you will have peace of mind knowing you are renting your home to responsible people. Before starting your screening process, you should make sure you are not violating any rental discrimination laws.
Review the Applicant’s Credit History
When a person shows interest in your home, you should ask to see their identification and rental records. You should also ask for references. After getting permission to check their credit report, you should look for delinquent accounts and evictions.
Choose Your Rental Standards
You need to decide if you want to rent to someone with a criminal record. If the house is in a low-income neighborhood, you might be considering renting to people with a criminal record. If you are willing to rent to applicants with a criminal record, you should make sure the crime did not occur within the last few years.
Speak With the Applicant’s References
If the person has a good credit history, you should interview their references. You need to make sure the potential tenant has credibility with their references. You should ask their references to rate the reliability of the potential tenant.
Review the Applicant’s Financial History
When you complete the reference check, you should make sure the potential tenant can afford to pay the rent. The tenant’s monthly salary should be at least twice the amount of the rent.
Property Management Companies Austin
After completing these steps, you should be able to make an informed decision. Quality tenants are hard to find, but a thorough background check can ensure you are renting to reliable tenants. Before closing the deal on the rental agreement, you should make sure the tenant is aware of their responsibilities. Your contract needs to state guidelines for due dates and late fees. Your contract should also state the tenant’s obligations in regards to caring for the rental property.
When you are looking for an Austin property management company, Keyrenter Austin can meet your needs. Contact us today at 512-596-0055.