Like every Dayton landlord, you want to ensure that the tenants you select for your rental are mature and responsible. A bad tenant can wreck your property and interrupt your cash flow, while a good tenant is proactive and helps boost your return on investment (ROI). Finding a good tenant is easier said than done though. The question remains, how to identify the right tenant from among several candidates?
Based on our experience, you can spot a good tenant from miles away, if only you know what to look for. Here’s what it takes to find good renters for your Dayton rental.
Rely On a Thorough Screening Process
One of the best ways to find a reliable renter is by conducting a thorough screening process. The following steps can help you ensure that your potential tenant is well-qualified.
Run a Credit Check and Verify Their Income
Learning about the applicant’s credit background and income is a primary step towards identifying the right tenant. You can ask for their pay stub copies, verify their employment status, and ensure that their income is at least three times the monthly rent. You can also check their billing history and their debt status before you finalize the lease.
Check Rental History
The next step is to assess their rental history by getting in touch with their previous landlords. You can ask them if the tenant paid rent on time, gave proper notice before moving out, and how their behavior was as a renter.
Conduct a Criminal Background Check
Another important aspect to focus on is the criminal history of the renter. Always look for prior evictions, bankruptcies, and civil judgments that might be pending. Ask the renter for valid identity proof for verification, and take note of any serious offenses conducted.
Keep Your Dayton Rental in a Desirable Condition
A house that is well-maintained will surely appeal to a lot of good prospective renters. High-quality tenants are willing to pay a higher rent most of the time. However, they also expect the level of maintenance and amenities to be worth the price.
To create a positive first impression, your rental needs to be well-maintained. Update all utilities, beautify the garden, paint the exterior and always be on top of all repairs. Such a near-perfect rental can help you find good renters.
Market Your Property to Find Good Tenants
Your Dayton rental might miss out on potential renters if it does not reach as many people as possible. You can use the following to promote your property extensively:
Implement Online/Offline Advertising Methods
Advertising is essential to get your property noticed. You can implement traditional strategies like printing flyers, boards, and signs to showcase the best features of the house. You can also opt for online advertising and list your rental on trusted listing websites.
Promotional techniques like referrals can also help you reach a wider audience. You can ask your current tenants, friends, and acquaintances for referrals and offer them incentives in return. It can help you attract high-quality residents to your Dayton rental property.
Use Social Media As A Tool
Social media has become a powerful platform to reach new people and inform them about products and services. You can post about all the amenities featured in your rental property along with photographs and/or videos and your contact information to give potential renters better insight into the rental. Social media ad features can help you list properties and find good tenants.
Consult A Dayton Property Manager
Following the above steps as a Dayton landlord can be a hassle. If you need help in finding good tenants, you should consider consulting a property manager. A qualified Dayton property manager can help you find great tenants through a detailed screening process, conducting thorough background checks and following a comprehensive screening strategy.
At ManCo Property Services, we can help you simplify this process and find the right tenant for your Dayton rental home. With over three decades of experience managing rental properties in Dayton, Ohio, we strive to improve the rental experience for our clients and ensure that they find the required, perfect tenant fit.
For more assistance, reach us at ManCo Property Services.