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7 Qualities of a Dream Tenant

Written by David Meister Posted On Wednesday, 22 March 2017 02:44
High-Rise Apartment Building High-Rise Apartment Building http://www.stockvault.net/photo/106887/high-rise-apartment-building

It’s a sad day when one of your tenants decide to move out. Sometimes, tenants leave the property because they can no longer afford the cost of living in your property. As a property manager, you are tasked to look for a new tenant to replace the previous one.

When you have already cleared any prior issues with the vacant property, it’s time to find a new tenant! As mentioned by Inspire Property Management, “this part of the management process is catalyst…” and “A fine mixture of instinct and research brings you the best result.”

With that in mind, aside from a good credit score, here are some qualities that you would want to see in a potential tenant for your property:

  1. Disciplined in paying on time – you can check this by looking at their recent billing payment. You can contact their current tenant to ask around for feedback. If they will agree, you can ask them to pay rent via checking or via credit card.
  2. Somebody who feels like they will treat the property as their own – it’s not just because they’re interested in keeping their security deposit; you want them to value the property and treat it with respect. Directly communicate this concern and try to find out if they are up to the task.
  3. Someone who is “manageable” – as a property manager, you resent meeting primadonna renters who complain about almost everything in the property. You’d want someone who is manageable; someone who knows which concern should be forwarded rightfully to the management. You’d want to meet someone who can handle themselves fairly well.
  4. Someone who respects boundaries or someone who isn’t sketchy – guests come and go, but some tenants tend to have “overstaying” guests; make sure that they agree on the terms of the lease and properly declare tenants in the property.
  5. Someone who intends to stay on a long term basis – again, you’d want to look for a tenant who intends to rent the property for a long term basis. However, in this ever-changing world, the sharing economy of AirBnB has already set the trend and has helped people with their properties. If you’re open for short-term tenants, you can make the most of the property you are managing.
  6. Someone who is open to having renter’s insurance. A good tenant will have renters insurance so the homeowner isn’t left with a bill due a tenant being unable to cover the cost of damaged to the property or court fees. This won’t even cost them too much!
  7. An honest tenant. Aside from paying on time and the other things we mentioned above, an honest tenant is the best among them all. Someone who is honest about their records, and even if they cannot continue renting anymore. Instead of letting the terms of the lease expire and have a negative rental history, they care about their standings and it will be easier for you to see them go.

If you think we missed anything for what it takes to be a dream tenant, let us know in the comments!

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