How to Make the Most Out of Your Rental Options

Posted in Blog  
  on Jul 06, 2016

Depending where your rental is located, you may have a difficult time snagging the best tenant when it comes time to put your property on the market for a new lease. Your rental may be in great shape and you may be a top notch landlord, but if there are many rentals in the area then you will have competition. One of the ways that you can receive a higher number of applicants is to avoid putting too many limitations on the property. Take a look at the following articles and weigh your options carefully.

  • Renting to Smokers - There are some landlords that will put their foot down completely when it comes to renting to smokers, but that will limit your potential tenants that can apply to your rental. While you will need to make the best decision for your property and your business, you may consider making a compromise.
  • Renting to Individuals with a Criminal Record - You may receive interested applicants that have a criminal record. While this should cause you to pause and look a little deeper, it doesn't necessarily mean that they are a bad investment.
  • Renting to Individuals From Out of Town - People move for many reasons, and if they are moving from out of town you may not be able to meet them face-to-face until they are a ways through the process. There are other ways to make sure that you are doing your due diligence.
  • Renting to Individuals Without a Credit History -  It can be frustrating when you run a credit check on someone and it comes back blank. If your applicant does not have a credit history (or a recent credit history), it is a little more difficult to judge their potential as a tenant in your rental, but it's not impossible.
  • Renting to Military Personel and Veterans - If your rental is located in a military town, you may find that quite a few of your applicants are servicemembers or veterans.
  • Renting to Section 8 - You may have heard stories that make you hesitant to jump into Section 8 housing, but there are some great advantages in working with Section 8 tenants.
  • Renting to Tenants with Pets - While pets can potentially cause damage to a rental unit, there are perks that come with allowing a tenant with a dog in your rental.
  • Avoiding Scams - When you list your property for rent, you will want to protect yourself against scams.

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