What You Must Know About A Tenant Before Signing A Lease Agreement

Posted on: 9 August 2016

Finding the ideal tenant is the dream of every landlord, yet this can seem like an unattainable goal sometimes. Before you give up and rent your home to someone who doesn't meet any of your top criteria, consider this must-have information you need to know about your tenant. It can help you make a wise decision about whether to rent your property to them.

Detailed Credit History

Run a credit check on all potential tenants. This shouldn't be the sole thing you consider when determining a potential tenant's eligibility to rent your home, but it can be quite revealing. It's okay to ask the tenant for more information about their credit report, and if the tenant knows that they have a low credit score, they may volunteer information about why they had problems paying their bills in the past.

Try to be fair when evaluating the credit report. You may see that the credit score is low because of medical bills that accrued in a certain time period. This may not affect how dependable the tenant may be now. On the other hand, a high credit score can automatically help you feel more confident in a tenant that meets all the other criteria because that reveals that the person has been responsible with paying creditors in the past.

List of Previous Landlords/Rentals or Alternate Information

It's okay to ask the tenant for references from past landlords. Not everybody will be able to offer a list because they may be just moving out of their parents' home or a dorm, and some people just don't keep contact information for past landlords. However, they should be able to inform you about the situation in greater depth if they don't provide a list. Even an RA from a potential tenant's dorm may be able to provide insights into how clean the person may keep your home.

Thorough Work History

Getting a good overview of the potential tenant's work history can be the most important thing to consider. After all, the person's long-term employment in a lucrative professional position can indicate that they have the resources to pay rent in a timely manner each month. Consider how long someone has been employed and whether they have often switched employers in the past.

Finally, keep in mind that each tenant should be evaluated on a case-by-case basis. While it's okay to have criteria to protect your best interests as a landlord, you may be surprised at how someone who doesn't quite meet the ideal in some areas may turn out to be a respectful tenant who takes great care of the property and pays on time. Consider these three aspects of the potential tenant, then use your best judgment when deciding on a tenant for your home. For more information, visit websites like http://sell-4free.net/.