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How do landlords find renters?


If you're a landlord looking to find renters, your best bet is to place ads in local newspapers or on Web sites such as Apartments.com. If you can, put some ads up on bulletin boards and in store windows in the area. To save yourself time describing your property to everyone who calls, as well as the hassle of showing the property to people who are looking for something different than what you are offering, make sure your add is clear and includes all the relevant details. For example, how many bedrooms and bathrooms are there? How big is the apartment? Are utilities and appliances included? What is the term of the lease - is it yearly or monthly?

Before setting up a meeting at the property, take the time to chat with the potential tenant to check whether he/she is suitable as a tenant, and whether the unit is appropriate for him/her. Put together a rental application to help screen potential tenants and ask all prospective tenants to complete it. Don't make any exceptions for one applicant that you wouldn't make for others. Base your questions around issues of business logic rather than on personal impressions. It's best if the rental application has a clearly defined set of criteria, and that you get a lawyer to have a look at it first. This way you can be certain that you're abiding by fair housing laws and can be defended against any claims of discrimination. The kinds of things worth checking include whether or not the potential tenant has ever been evicted, what his monthly income is and his minimum credit score.

Once you feel confident that you've found the right renter for your property, seal the deal with a rental agreement and lease.

 

 

 


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