The Right Fit - Here are Five Things to Do When Searching For a Tenant

The Right Fit

Buying a second property as an investment can be an excellent way to build equity.

The keys to making it work are to buy a property that will appreciate in value, and then filling it with the right tenant, someone who is responsible and trustworthy.

 

Here are Five Things To Do

When Searching For a Tenant:

 

1. Look for discrepancies and missing information on rental applications. These can be red flags.

 

2. Get a credit report for anyone you are considering. It is a good idea to compare the information on the credit report to the application. Discrepancies should be investigated.

 

3. Allow for special circumstances. If you find inconsistencies, ask the applicant for more information. Things like a death in the family, divorce, and illness can mean temporary lapses in payment.

 

4. Make sure the applicant does not have a criminal record. Also, contact all previous landlords, employers and references.

 

5. In addition to a financially responsible person, you want a tenant who will take care of your investment.

Barbara Scarlett

Barbara Scarlett

Sales Representative
CENTURY 21 Today Realty Ltd., Brokerage*
Contact Me

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