Finding tenants for rental homes Midlands should be easy, after all the city has a population of 744,000 people in the metro area. People are flocking to Midlands for the job opportunities, family friendly atmosphere, and southern living. The median age of folks in Midlands is 36 and with the same number of people moving to town every day, property managers can have a tough time finding quality applicants for their rental homes Midlands.
The first thing you must do when you are looking for quality tenants for your rental homes Midlands, is have a comprehensive application that prospective renters fill out. This application should include:
Proof of Income
Social security number
Current contact information including address
Past 5-10 years of rental history and job history
Date of birth
Driver’s license number
All members of the household that will reside in the rental home
Next, conduct a background check on the applicant to ensure they meet all the rental property qualifications. These could relate to criminal history, credit report, income, etc. Do not make exceptions for any applicants. This is against fair housing laws. All applicants for rental homes Midlands must be treated equally, so do not make concessions on the application criteria ever.
After the background and credit checks are passed, do a reference check on the applicant. Call their past employers and past landlords to get a better idea of the renter. While employers and landlords are limited by what they can disclose by law, they can tell you whether they would hire or rent to that person again at the very least.
If you have income requirements for your rental homes Midlands, make sure that they are reasonable. Standard practice is that rent should consume no more than one third of a renter’s monthly budget. Set these same expectations for your applicants to reduce the chance of late rent or missed payments. Including an application fee in your rental process can also give you a better idea of a person’s ability to afford your rental unit.