How to Find the Perfect Tenants for Your Rental Property

With a little effort, you can find the perfect tenants for your rental property.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Rental Agreements
• Rental Applications
• For Rent Signs

1. Tell your own circle of friends and business associates that your property is available for rent. If your rental property contains multiple units, ask current tenants to spread the word about the vacancy among their friends and family members.
2. Advertise your rental with "For Rent" signs, announcements or fliers on bulletin boards and in the classified section of the newspaper.
3. Ask prospective tenants to complete a written rental application with credit histories, personal references, employment histories, rental histories and banking information.
4. Interview prospective tenants by asking why they want to rent your property, how long they have lived at their current residences and why they are leaving their current residences.
5. Determine if the applicants plan to live in the property for an extended period or if they are likely to be transient, based on their rental histories.
6. Check all references to evaluate each applicant's suitability as a tenant.
7. Select the best tenant from the applicants in a non-discriminatory manner, basing your decision on credit checks, personal references and rental history.

Tips & Warnings

• Take advantage of free advertising techniques before you purchase advertising space in newspapers or on the Internet.
• Avoid possible discrimination complaints by evaluating tenants on their financial or employment histories instead of race, religion, sex, age or other discriminatory methods.