Selecting That Great Tenant

Abstract

As a rule of thumb, it is better to have no tenant than a bad tenant. A lot of problems can be avoided by making sure you have given out a qualification list prior to a tenant applying and by setting up what your rental criteria is ahead of running the applicant's credit report, so you do not waste their time and money or yours. The most important thing you can do when dealing with prospective tenants is to treat them fairly, be consistent and use the same criteria each time you rent. If you use a bad lease, you might be unable to evict a tenant for nonpayment of rent, or for certain damages, or for too many people moving in, and so on. A bad tenant takes up space that could be used by a good tenant. A bad tenant may also cost you by losing good tenants at your property. Lastly, good tenants can lead to future financial stability and a bad tenant can cost you lots of money.