FINANCE

Monday, February 7, 2011

Rental Property Manager - Helping You Find the Best Tenant

Anyone who has ever rented a house out to someone else has surely questioned whether they should hire a good rental property manager or not. The know how hard it is to find the perfect tenant. By perfect, I mean that they always keep the house clean, they have never broken any of your belongings in the house, and they pay on or before the due date every month. It takes lots of time and energy to find that dream tenant.
It is one of the most difficult challenges for homeowners to go through, but it is not necessary for the homeowner to go through this task alone. Why not let a property management service take the stress of finding a good tenant off your shoulders? That is a part of your property manager's job: to find a responsible, mature tenant that will respect you and your property.
Property managers are experts at finding dependable tenants for their customers' rental properties. Each possible tenant is screened thoroughly to ensure they will be good renters. Your property manager starts the screening process with the very first phone call or meeting with the prospective tenant. The manager listens to everything the potential renter says to try to get an idea of how they will act while living in your house.
The next thing the property management service does is check for any criminal records the renter might have. Any kind of criminal record points to a bad tenant. You don't want an ex-thief living in a house with your valuable furniture and other belongings; so if their record isn't clean, they probably won't be living in your house. It's better safe than sorry when you are talking about letting a stranger live in a house that you own!
If the tenant has ever rented a house or townhouse before, your property manager will check with the renter's previous landlord. Prior landlords know this person from a business viewpoint, meaning they can tell your property manager if the tenant was responsible or not. The possible tenant's old landlord can let you know if they ever messed up their last rental house, or if they "forgot" to pay the rent once or twice. The last landlord is the best source to find out if the renter looking to live in your house will be a good tenant.
One more thing the property manager checks is to see if the prospective renter works where they say they work. If they do not have a job, how can they pay for rent? You don't want an unemployed tenant, because it is unlikely they will meet due dates for paying rent. Also, if the tenant says they have a job, your property manager will check with the employer to make sure the renter really works there. It has happened before, tenants sometimes try to hide that they are unemployed, but it rarely works if your property management service checks for employment. This is all to make sure you get paid on time, so it is a good idea to hire a manager to do some investigative work to ensure your tenant can pay their rent.

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