Trusting a stranger to live in your home responsibly requires landlords to take a big leap of faith. While you can move on ahead with the application process without doing any pre-screening, it's a good idea to learn as much about your tenant as possible. The best way to make this relationship work is by finding a tenant whose values align with yours.
The ideal tenant has the following traits:
- A monthly income that is three times the rent
- No past evictions
- Good credit score
- Stable history of gainful employment
- Good references
You can save a lot of time and energy by stating your criteria for renting upfront in your advertisement.
Then you can ask them a few questions to break the ice - it's better to do this step before spending time and money on credit and background checks. Make sure the questions are the same for every tenant to ensure you’re non-discriminatory.
Have You Ever Been Evicted?
Past behavior is a good indication of future behavior. While you may find this information on their credit report, asking this question will allow the applicant to explain themselves. Perhaps they were at a low point in their life and have since hit their financial stride. It's important to get the context that a credit report won't provide.
Why Are You Moving In?
Tenants move to a new place for various reasons. Some are looking for a home closer to their workplace, while others may find a place closer to their college. Asking this question will give you more insight into what your tenants are looking for in their next place so you can manage your own expectations.
For example, if they're students looking to rent a place near college, there's a big chance they'll move out once their studies are complete. This means you should start looking for a new tenant once they approach graduation.
Asking this question will also reveal red flags such as problems with the previous landlord, disputes with neighbors, and missed rental payments.
Do You Have Pets?
This question can help you pre-screen applicants before you move to the real screening process. If you don't want pets on your property, then asking this question will save time and energy for both sides. On the other hand, if you allow pets, the question will help you determine if their pet fits your criteria. For example, if you don't allow reptiles and own a gecko, you will have saved everyone's time by asking this question.
What is Your Monthly Income?
A big percentage of tenants struggled to pay their rent because of the pandemic. This has caused landlords to suffer as well. To be on the safe side, tenants should have an income that is three times their rent. You can ask the tenant to provide at least five pay stubs to show that their monthly income is consistent and high enough to cover the rent.
You may want to relax this rule if your tenants are students with no employment history.
How Long Have You Lived In Your Previous Home?
Ask about their past residencies. It's a big red flag if they lived in several homes in a short time. If they seem to be hopping around from one place to another, chances are they'll do the same to you, leaving you with a vacancy to fill. The ideal tenant is someone willing to sign a yearly lease.
When Do You Want to Move In?
This is one of the most useful tenant screening questions because it quickly helps you decide if you and your tenant are a good match. Perhaps you have a vacancy that needs to be filled right away, but the applicant can't move in until a few months later.
Either way, this question will help you determine if the tenant is suitable for your timeline.
Don't have the time to deal with tenants? Hire an experienced property manager to do all the heavy lifting for you!
