Consistent rental income relies on stable tenants. If you find yourself constantly dealing with tenants who won’t pay their rent or take care of the property, it’s time to consider updating your evaluation policy. There are great tenants out there, but you need to be dedicated and discerning in order to fill multiple units with them.
The rewards of waiting for the right tenant are well worth the effort. Having reliable tenants greatly reduces the uncertainty and stress of being a landlord. That is peace of mind that you deserve. Begin by following these three important tips…
Create a comprehensive tenant screening process
You need to be able to vet all tenants completely before they move into any of your units. At the most basic level, this means a criminal background check and a credit check. You should be working with a company that can provide reliable records for both of these reviews. If it means waiting a few days for complete results, it’s almost always going to be worth the wait.
Coordinating the different background checks can be a hassle. It’s easier if you have a property management company handling it for you. Experienced managers can tell you how to find a good tenant in New Jersey, and handle the process of vetting them and moving them into the unit.
Follow up on references
It can be awkward to call complete strangers and ask them to give their opinions on someone else. Many people simply don’t pick up from strange numbers. However, following up on references is a vital part of properly vetting your tenants. Make every effort to contact every reference. If you can’t get ahold of them, ask the prospective tenant to have them get ahold of you.
Don’t rent sight-unseen
You should avoid renting units to tenants who you have not met. Sometimes, tenants will pass through requesting to pay portions of the rent in advance, but unable to meet in person at any time before the closing. You should be cautious of tenants who aren’t interested in seeing the property before they use it. It’s difficult to avoid conflicts with tenants who don’t know the property before moving in, and tenants this flighty are often hard to find when they do things like abandon the lease without notifying you.
Get help finding tenants with good qualities in New Jersey
If you’ve been frustrated trying to find a good tenant in New Jersey, you can call us for help. Property management that includes strong tenant screening processes is one of the services that we offer to landlords in New Jersey.
Even if you don’t need property management, we can advise you on how to make your rental business better. We’ll help you develop more effective lease agreements to avoid disputes and force faster resolutions. Request a tenant screening consultation today.