Monday
What Landlords are Looking for When Choosing Good Residents
Good residents are a key factor in any successful rental property business. Property owners and managers need to be able to trust that their tenants will pay their rent on time and take good care of the property. So, what should property owners be looking for when choosing a tenant?
First, property owners should look for reliable tenants who demonstrate a consistent record of paying rent on time. Make sure to review all available credit information from services such as Experian or Equifax before making a decision. Additionally, you can ask for references from previous landlords or employers to get an idea of the tenant's payment history and reliability.
In addition to financial stability, it is important to make sure that your potential tenants have the proper insurance coverage, especially if they are planning to have pets. Not only will this protect the property, but it also gives you peace of mind knowing that the tenant is responsible for damage caused by their pet.
It is also important to make sure that tenants can maintain and use the rental property safely and responsibly. Reviewing past criminal history and drug tests may be necessary depending on your state laws. This can help property owners and managers understand if a potential resident has demonstrated bad behavior in the past or poses any kind of risk to other tenants.
Finally, property owners should look for tenants who understand what it means to be a good neighbor. Communication with neighbors prior to approving a tenant may provide valuable insight into their character and how well they interact with others in the community.
Choosing the right tenant is an important part of managing a successful rental property business. By taking the time to review credit history, insurance coverage, and criminal background information, landlords can feel confident in their decision to approve reliable tenants who demonstrate respect for the property and its neighbors.
This post was written for informational purposes only. For specific legal advice related to landlord-tenant law, please contact a qualified attorney in your area.
Thursday
Monday
FAQs from Apartment Shoppers Answered by a Former Multi-Family Housing Property Manager
Looking for a new apartment can be daunting. Between finding the right neighborhood and sorting through all of the different floor plans, it's easy to feel overwhelmed. That's why we've put together this list of FAQs specifically for apartment shoppers, answered by our very own blogger, Nicholl, former property manager. Keep reading to learn everything you need to know about renting an apartment!
Q: How do I know if an apartment is right for me?
A: The best way to figure out if an apartment is right for you is to schedule a tour and see the unit in person. This will give you a chance to get a feel for the layout of the apartment and the surrounding neighborhood. Once you've toured the apartment, ask yourself if it feels like somewhere you could see yourself living happily for the next year or two. If not, keep looking!
Q: How can I tell if an apartment complex is well-maintained?
A: During your apartment tour, be sure to take note of the condition of common areas like the lobby, hallways, and laundry room. These areas should be clean and in good repair. If you see any signs of neglect, it's a good idea to move on to another apartment complex.
Q: How do I know if an apartment is safe?
A: The best way to gauge the safety of an apartment complex is to speak with the property manager. They should be able to tell you about any security features that are in place, like gated entryways or on-site security guards. You can also ask your tour guide about the neighborhood surrounding the apartment complex and whether they feel it is safe to walk around at night. However, they will not provide any specific information. They are trained to say things like, "Crime has no address." They cannot guarantee your safety.
Q: What kind of maintenance or repair assistance can I expect from my apartment complex?
A: Most apartment complexes have staff members who are responsible for taking care of common areas and responding to maintenance requests from residents. If you have a specific question about what kind of assistance you can expect, be sure to ask the property manager during your tour. They should be able to give you a clear idea of what kinds of services are available.
Q: How do I know if an apartment is pet-friendly?
A: Some apartment complexes allow pets but with breed restrictions and some do not, so this is definitely something you'll want to clarify before signing a lease. If you do have a pet, be prepared to pay an additional deposit as well as pet rent each month. You may also be required to provide proof of vaccination and take your pet through a meet-and-greet with the property manager.
Q: How do I apply for an apartment?
A: The first step in applying for an apartment is to submit a rental application. This will include your contact information, employment history, and rental history. If you have no job, you will need to provide a substantial savings, proof of lottery winnings, or an impressive retirement portfolio. Since each property management company has different requirements, call before you visit to find out what is acceptable proof of income. You may also be required to provide a credit report and background check. Once your application has been approved, you'll sign a lease and pay any required deposits or fees. Most property management companies expect you to move in within two weeks of receiving approval.
We hope this list of FAQs has been helpful as you start shopping for your new apartment! Remember, the best way to find the perfect place is to take your time, tour several units, and ask lots of questions. To your success in finding a great place to stay!
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