Statistics show that over 10 million Americans earn some amount of income from renting real estate.
Are you looking to get into rental housing? What will your process be for finding tenants to live there? How can you increase your odds of getting great people to rent from you?
Tenant screening is a dreaded task for some, but it becomes easier once you find the strategy that works best for you and develop a tenant screening guide.
Keep reading to learn more about the pre screening questions for tenants that you should be asking.
Be Direct
Your goal is to find a tenant for each of your properties. The best way to do this is to be crystal clear with your communication and expectations. An example of this is requiring a specific credit score to apply or asking for a certain amount as a security deposit.
Laying out your expectations as a part of your marketing is an easy way to make this happen. The straightforward message that you require a security deposit, for example, lets prospective tenants know that you are serious about the people who live within the building.
Prepare Specific Pre Screening Questions for Tenants in Each Unit or Property
While you may stick to some of the same questions for multiple buildings, you can also frame these questions to apply specifically to the living situation of each location. For example, asking a tenant if they have any pets will hold more importance when you are looking at an apartment or condo versus a home.
By asking questions unique to each location, you can dive deeper than you otherwise would with general questioning and allow you form a better picture of these possible tenants.
Ask About Motivation for the Move
Why are you moving? This is the question that will start a conversation. It is simple but allows the entire story to unveil itself.
Pay attention to the responses that your potential tenants give in reply. Some will blame others for their current situation and say it is time to get out. While this is possible, they may be lying about their interactions with neighbors or their current landlord.
One way to get a more honest take on the situation is to require them to list a few references that can speak to their history as a renter. When you call these references, you can get a better idea of what future potential they have and if it is a risk to accept their application or not.
Asking pre screening tenant questions about their current employment situation will give you an idea if they will be able to pay rent on time each month or not.
Start Screening Today
Now that you have read more about the pre screening questions for tenants that you should be asking, you can begin the process immediately! The search for great tenants doesn't have to be difficult now that you know what to ask. Check out our blog for more helpful real estate articles like this one.
