Choosing the right tenant can come with its challenges. As a property owner, you want to make sure you choose someone who is responsible, respectful, and will pay their rent on time. The right tenant makes all the difference when it comes to safeguarding your property and your investment. Ensure you make the best choice with our tips on how to choose the right tenant and gain peace of mind.
What Makes a Good Tenant?
A good tenant must have a combination of reliability, responsibility, and respect for both you and your property. This includes paying the rent on time, keeping your property in good, clean condition, quickly reporting any issues or repairs needed, and adhering to the terms of the lease agreement. So, how do you find this perfect tenant, and more importantly, how do you choose the right tenant? The answer is a series of rigorous screening steps involving credit and reference checks, as well as verification of stable employment.
Tenant Screening Steps: The GIL Approach
Tenant screening is a crucial component in safeguarding your investment; however, the process can often be time-consuming and overwhelming. This is precisely where GIL steps in, offering professional support and expert knowledge to streamline the experience for you. Our meticulous tenant screening process follows carefully planned steps, guaranteeing your peace of mind. Wondering what to anticipate during a tenant screening with GIL? Here’s a breakdown:
1. Initial Application Review
The first step in tenant screening involves reviewing their application form, where we’ll review personal information, rental history, employment details, income verification, and references.
2. Credit Check
A credit report provides information on the tenant’s credit history, outstanding debts, and payment patterns. We’ll conduct a thorough credit check to assess the financial responsibility of your prospective tenant.
3. References Check
Personal and professional references can provide additional insights into your prospective tenant’s character, reliability, and behaviour. These references can include personal contacts, work colleagues, supervisors, and previous landlords. We’ll follow up with each of your potential tenant’s references to determine if they’re the best candidate.
4. Employment and Income Verifications
This is a crucial step to ensure your potential tenant has a stable financial situation and can afford the rent each month. We’ll contact current employers and may request pay stubs or a letter of employment.
With GIL handling these steps and guiding you with insights on how to choose the right tenant, you’re sure to get peace of mind knowing your investment is housing a responsible tenant. For more on tenant selection, give our Importance of Tenant Screening blog post a read.
Are you ready to get started on your tenant selection journey? GIL is here to assist you as a property management expert. Contact us today or request a free property management consultation and discover how we can help you streamline the tenant screening process and ensure reliable and responsible tenants for your property!
