What Makes a Good Tenant?

When you own rental properties, you want to ensure that you have good tenants. But what is the definition of a good tenant? How do you find someone who meets the attributes of a good renter? Is it an individual who pays rent on time or a renter who keeps the property clean and neat? Both of course, but there are also other factors involved that help landlords find good quality tenants, individuals who help you succeed with your investment properties.

Responsibility is a Key Quality

Responsibility has been found to be a key component when dealing with a good tenant. A good tenant will be responsible in all areas of their life. This will include finances and employment. The individual who is a hard worker, has good credit, and seems true to their word is a good person to rent to. They will pay rent on time and help others in the apartment complex when needed. You want responsible people renting from you to ensure you have a positive experience instead of a negative one.

Paying Rent On Time

A responsible tenant will always pay their rent on time. With proper screening, you can ensure that the tenants you rent to are responsible in this manner. You want to run a thorough credit check, verify their income from employment as well as go through any references provided. This information will help you to determine if the individual is able to pay their rent on time or not.

One option to consider is someone who is a corporate transfer. Individuals who move via work will usually have their rent paid by the corporate office. You can also get in with such companies by renting to individuals and they will continue to send you new tenants as they switch out employees.

Understanding the Bonds of a Contract

An individual who is responsible will also be willing to follow the terms of the contract signed with the landlord. The rules are not bent without asking the landlord first, such as painting or hanging up artwork. The contract is respected and the individual makes sure they follow all the rules of their rental agreement.

Basically, you want to find individuals who are responsible in their daily lives. Individuals who are employed and have good financial standing are responsible for their actions and will be willing to do what is necessary to stay in their apartment. As the landlord, you must conduct quality background checks in order to find out everything you need to know to see if an applicant is responsible.

At Latitude Properties Kitchener, we can help with the screening process. We know exactly what to look for and can process applications in a timely manner in order to ensure your vacancies are filled on time and by good quality tenants. This is just one area of service we provide property owners. Contact our office today to find out how we can help you secure good tenants as well as keep your properties in excellent condition, helping you to see a return on your investment.