The More You Screen The Better – How To Find Good Tenants?
Finding the perfect tenant can often be like finding a needle in a haystack, especially if you lack the experience and qualified knowledge of a property management company. To find good tenants, you need time, persistence and more than a lot of patience.
Posting in the right places
To find good tenants, your screening process needs to be vigilant from day one. To avoid a lot of unnecessary intake of interest from tenants you do not want, you need to look, and advertise in the right places. For example, if you want a family to take up tenancy in Orange County, you do not want to be advertising to students. A good Orange County property management company will have an entire database that differentiates depending on who you want to target so your response will be more streamlined depending on who you want in your Orange County rental property.
You also need to think about the way you post, just because you know you have an amazing property that would be perfect for a small, young family does not mean that they will know that off the bat. Photography and description have to be on top of its marketing game in order to compete against other rental properties in the area. You also need to ensure you advertise all legislature compliance, which a property management company will already have in the forefront of their minds.
First point of contact (pre-screen)
Once you start generating interest, which will either be by phone or email, you need to have prepared relevant questions that will help screen tenants through to the next stage. Normal first stage questions include name, the reason for moving in, how long they are planning to stay, any pets etc. Be sure to mention within the call that you do a comprehensive background and criminal check as standard and the minimum income requirement for your tenants. This will cut away any tenants that could give you a mountain of problems in the future and leave you to find good tenants amongst the rest.
Rental property viewing (in-person screening)
This is the opportunity to not only ask any other questions but to be observant of the person and how they respond face to face. Make sure to answer all their questions but also note what they ask, if they arrive late and even perhaps walk them to their car so you can see how they take care of their own vehicle. These things can be minor insights into how they will treat your property and rental agreement. Make sure to mention that if they are interested you will need at least two references from their previous landlord and employer (neither can be a family a member).
Once your potential tenants show enough interest, they will want to fill in a rental application form. For this, you need to make sure your application form is compliant with state regulations and that you do not call their references or run a background check without telling the tenant first. Secondly, you cannot accept a form with any blank spaces; absolutely everything needs to be filled out. This is the last way to really find good tenants within your pile of forms, so screen wisely.
A background check will allow you to see the tenant’s eviction history, which will give you the red flag on whether you can trust this tenant to pay on time and take care of your property. A credit score can also help you differentiate between reliable and not so reliable tenants. The average credit score is around 650 so use that as a reference point. However, if they have a good credit score but a history of evictions, this is good enough a reason to avoid renting your property to this tenant.
Selecting your tenants
Once you have chosen your tenants for your rental property, you may be near the end… or not! Always let the tenants know that you have selected before telling those you have rejected. If those selected actually turn you down because they have found somewhere else or just changed their minds, you are going to have to reassess your other tenants. The only other option is to overhaul your entire list and start again, which can be quite common if nobody on your current list particularly appeals to you. This can be the most soul-destroying aspect of the screening process, and a great reason to have an Orange County property management undergo this procedure to take the stress off your hands.
As can be seen above, attempting to find good tenants can be an incredibly painstaking process that takes a lot of time and commitment. Furthermore, ensuring you are following state regulations at the same time, whilst not missing anything important out like credit and background checks can be tricky if you are juggling a career, family and your own property as well. There is simply no substitute for using an Orange County property management service.
Goodman Management Team – Orange County Property Management
Goodman Management Team has years of industry experience, a very reputable and popular choice around Orange County CA. With their own home grown screening process, they are experts in differentiating the good from the bad when it comes to tenants. As the best Orange County property management company, Gerry Goodman and his team have a long standing history of customer satisfaction with a wealth industry expertise. The legislation, tenants screening, repairs and maintenance and a key contact for your tenant is among the main services they offer along the entire tenancy journey.
Having peace of mind, knowing your investment is being nurtured by qualified professionals is the biggest benefit of employing Goodman Management Team to not only find good tenants for you, but take the entire process off your hands. Developing a strong relationship with the best Orange County property management company will ensure that your investments deliver lucrative results from start to finish.
Get in touch with Goodman Management Team today to find out how they help you find good tenants and more.