The Ultimate House Viewing Checklist for Buyers
06 Jan
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22 Dec
Knowing what questions to ask a potential tenant is perhaps the key to success when filling a vacancy as a landlord. It may be impossible to pack your property with "perfect" tenants. Still, you want to aim for the best possible residents.
It can be tricky to determine what questions to ask to ensure you make the right choice when managing a property. And that's why we provide a list of six critical questions to ask a potential tenant.
Read on to receive expert advice on the questions a landlord should ask an applicant when navigating the sometimes chaotic process.
1 | What date do you plan on moving in?
The very first question to ask a potential tenant is when they plan on moving. If your schedule and the new tenant's timeline don't match up, you're probably not a good fit for one another. Suppose you need someone to fill a vacancy within the next month. However, your applicant's current lease ends in two months. Sometimes, you have some flexibility to make this situation work. But, in most cases, you should stop the conversation and save yourself the hassle. If your dates don't correlate as they should, there's no point in proceeding.
On the other hand, say your applicant needs to move as soon as possible, and your property won't be vacant for another month or so. In this case, moving on to other opportunities would benefit both sides.
2 | What is your reason for moving at this time?
People don't typically move for the fun of it. In reality, moving can be pretty expensive and stressful. It's wise to ask potential tenants why they are deciding to move. Most of the time, the applicant is moving to reduce the daily drive to work. Or perhaps they have outgrown their current residence or need to be closer to aging parents.
Whatever the case, knowing the renter's reason for moving is helpful. Unfortunately, not everyone will be completely honest when answering this question. Asking this question allows the person to be truthful about past troubles with their last lease, including not being able to make rent payments or not getting along with neighbors. If they are not honest, you will find out when exploring the applicant's references, like past landlords.
3 | How long have you lived at your current home?
Another critical question to ask a potential tenant is how long they have lived at their current address. You'll get a better idea of whether this renter will be there for the long-term or a shorter period.
If the applicant mentions they have only lived at their current home for less than a year, you'll want to ask why. In many cases, the reason they provide is legitimate. However, this question can also uncover an applicant that will potentially be an issue.
While it isn't always a sign of a problematic tenant, someone who moves frequently may continuously cause issues at the places they have lived in the past. And there's a chance they will do the same at your property.
A short-term tenant isn't always a deal breaker for landlords. However, no one wants to be filling a vacancy soon after filling it.
4 | Who else will be moving with you?
Next, you should ask who they are moving with. You need to adhere to the rental laws that restrict how many people can reside in your specific vacant property. Are they moving independently? Will they have family members with them? If so, how many? Will any children live in the home?
It's also vital to ask if the applicant has pets. Many rental properties have rules and regulations involving pets. Whether you allow pets or not, it's a question that you must ask. Suppose you do allow pets in your rental. In this case, this is the perfect time to introduce information related to tenants with pets in the household. For example, ensure they are aware of any pet deposits or fees and weight or breed restrictions.
5 | Do you or any other household members smoke?
Smoking can result in stubborn linger odors and damage to the walls and HVAC system. Even if you allow smoking inside of the rental, it's wise to know if your applicant smokes ahead of time. That way, you can plan for deep cleaning and odor removal when they move out. Furthermore, it's a good time to briefly discuss the policies and consequences of smoking in or around the rental, if any apply.
6 | What's your income?
In many scenarios, asking a person about their monthly or yearly income is impolite. However, this question is standard and necessary when considering a new tenant. Knowing the applicant's income will give you a good idea about if they can afford rent. The general rule is that if a person's rent is up to 30% of their income, they should have no problem paying rent regularly.
If this isn't the case with the applicant you are considering, that doesn't mean you strike them off the list. It all depends on the risk you are willing to take. At the very least, you may want to use caution when proceeding with the leasing process.
Likewise, the potential tenant's credit history will play a significant role in their ability to pay rent on time and in full. Again, a credit score does not tell the whole story. Nevertheless, it is essential information to collect and consider.
CITED: Biggerpockets.com, Mysmartmove.com, Zillow.com