If you’re a landlord then you’d always be in the quest to find the tenants that are reasonable. It may not be too hard to find good tenants. However, certain tips are there that should be followed to avoid tenants that would not be preferable for you.
Clean and good tenants won’t be ready to select the apartment which seems messy, looks unsavory, or needs repair when you show it for the lease. Don’t be cheap on your part and add some paint coat, get the dishwasher fixed, and do minor stuffs which sit out tenants who’re dirty and have no problem in living with the broken appliances. It is not often realized by the landlords of Toledo apartments that their apartment’s condition can be the first method which can help them in controlling the tenant stock.
Considering that you do all the fixes, upgrade your apartment, and add paint, don’t keep the rent on the lower side. The rent for apartment shouldn’t go beyond the market price for similar units, but you should realize that the apartments which are let for low rents normally attract the tenants that are spread thin in terms of paying off the rent. Definitely, it isn’t the rule all the time and tenants having enough money don’t pay rent often. You can expect more from the tenants providing them with better quality product as well as charging most accurate rent.
All the tenants should be asked to fill out rental applications that are standard. Ask them to provide you with the deposit check. Don’t deposit this check unless you accept them as in some of the states it can be considered illegal. Ask them to sign the application which allows you to run credit check for them.
The tenants’ salary should also be verified using their pay stub. If they are self-employed then you can ask them to provide you with the tax returns of last year. Normally you have to take their salary and divide the amount by 12, and then divide the result by 4. This determines the amount which the tenant can be able to bear as his monthly rent.
Before renting out your apartments in Toledo make sure to call the prospective tenant’s current landlord to ask about the reputation of the tenant previously. Ask him that whether he/she is considerate, clean, noisy, etc. as a tenant. You should have it clear in your mind that if this person isn’t a desirable tenant then the previous landlord would try to rid him of.
Finally meet the tenant himself. If your realtor had shown the apartment to the prospective tenant then make arrangements for meeting him/her before the lease is being signed. This often alleviates your concerns, making you realize that the person isn’t the right choice for you. Ensure that you aren’t discriminating based on sex, race, disability, orientation or marital status.