Three Steps To Good Tenants

Statistics show that the majority of self made millionaires mad their millions through

selling and buying real estate the thing that makes real estate such a powerful investment tool is that the profit margins can be huge. If you are an aspiring real estate tycoon then at one point or another you are probably going to be a landlord. This article is going to discuss how you can find quality tenants who will respect your property.

The first rule to finding a tenant who will treat the home with respect is to make sure that they have a job which pays enough money for them to pay the rent. In general, rent should be roughly one quarter of their monthly income. One of the biggest mistakes that new landlords make is falling for some stupid sob story that they were injured a couple years back and that the insurance company didn't pay and that is why they don't have a job, etc. The end of this story usually ends with the promise that they are waiting for settlement check and as soon as it comes they are going to pay the entire lease upfront. This is a load of bull. These are not the people you want in your home. If they are too disabled or whatever to work and hold a job then they is also too disabled to do things like clean the bathroom or mow the lawn. Inevitably one of the surest signs of a person who is going to be a tenant is they are going to pay via proceeds of gainful employment.

The second thing that you need to do is to run a background check. This is one of the most essential things as it shows you a lot about the person's background. A credit check will reveal whether they have ever been evicted and if they are the type of person who pays their bills on time. This is important information for a landlord.

Lastly, a good tenant will be able to provide you with the name and number of the last few landlords that they have had. You should call these as they will be able to tell you if the person damaged the property in any significant ways which the credit report did not reveal. This can be the most valuable information as a tenant who destroys things will eat all the profits away from your investment.

by: Art Gib

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