Most investment property owners know that without good tenants, you not only run the risk of lost income, but also the possibility of having to make numerous (and costly) repairs, as well as the stark reality of having to perform an eviction.
So, in order to keep your properties – and your finances – on track, how do you find the ideal tenants for your investments?
One way is to make sure that you have a good, solid tenant screening process in place. In fact, performing both a background check and a credit check is imperative in making sure that those you hand over the keys to are well qualified.
In this case, contacting at least one (or more) of a prospective tenant’s prior landlords is one of the best ways to find out whether or not the individual (or individuals) are likely to pay their rent on time, and whether they will keep your property in good shape.
It can also be beneficial to perform a pre-move in inspection along with the tenant. That way, you and they will essentially be starting out on the “same page” when it comes to the overall condition of the unit.
While performing an in-depth screening of your possible tenants can be somewhat time consuming, it is not necessarily you who actually performs these tasks. By instead working with a property manager, you can hand over these duties, as well as other tasks, including rent collection, ongoing tenant management, and property maintenance.
If you own rental property in the Orlando and / or the Central Florida area, and you would like additional details about both the time- and labor-intensive tasks you can delegate to an experienced property management team, then give us a call today to learn more.