Finding a Good Resident

Quick, close your eyes and think about what makes a good resident.

These are some of the qualities I thought of-

• Pays their rent

• Treats the property well

• Keeps rental clean

• Gets along with their neighbors

• Treats employees in the office well

• Honest

These are pretty standard, decent people qualities. So when screening applicants for their properties, why do landlords seem to think they can get all the info they need from a credit score? Sure, it lets you know if they pay on time, which is a big deal when running a business, but it doesn’t tell you much about the other factors. Those other factors are a big deal as well.

Tips for finding a good resident-

• Run a tenant screening report. Smart Housing’s screening product includes Smart Score which will give you a better understanding of your applicant’s finances than by just getting a tenant credit check.

• Contact their references.

• Drive by their previous apartment or ask if you can visit them there. This will give you a good idea of what state they keep the rental in.

• Interview them as a way to get to know them better.

• Read Barb’s The Landlord Chronicles' article Fakers and Frauds for more ideas about how to avoid bad residents. Her blog includes other helpful articles relating to this as well.