You know what I am talking about—tenants who fail to pay their rent on time, intentionally damage your property, are always complaining, etc.
Your tenants can make property ownership a rewarding or frustrating experience. Therefore, when looking for tenants you should take the selection process very seriously. When it comes to property ownership, actively screening your tenants is absolutely essential.
When screening for tenants, it is pertinent that you conduct a background check and that you actually call previous property owners (not just the most recent one) to learn more about that property owner’s experiences with the potential tenants.
Along with calling previous property owners, it is also recommended that you have a face-to-face interview with each tenant that you are considering. These interviews can provide valuable information about whether or not these tenants are a good fit for you and your property—going well beyond what you can get from a paper application.
Plus, make sure you review the credit history and confirm current employment to increase the chances of finding a tenant that will make rent payments on time every month.
If you simply do not have the time or desire to manage your properties, then you can always hire a Birmingham property manager to do everything from screening possible tenants to collecting rent and scheduling maintenance.
Property managers can make your property ownership a lot easier on you while freeing up some of your time to allow you to continue looking for investment properties.
At the end of the day, who you choose as your tenants are incredibly important.
Therefore, make sure you take the screening process seriously—if you do not have time or desire to conduct a thorough screening process yourself, then hire a property manager to help you ensure that you are finding quality tenants.