Finding a good tenant for your rental property is like finding a needle in a haystack. You want someone who will take care of your property, pay rent on time, and be respectful to neighbours. But how do you know if someone is the right fit?

As your Realtors®, we wanted to share how we help narrow down rental applications to find the best possible tenants for our clients. Here are some signs to look out for when searching for that perfect tenant.

1. Stable Income:

One of the most crucial signs of a good tenant is a stable income. When a tenant has a steady job or a reliable source of income, it shows they can afford to pay rent consistently. Ask for proof of income such as pay stubs or employment letters. This will give you peace of mind knowing they have the means to meet their financial obligations.

---

Are you searching for the right home as an income property? The posts below will help you know where to start:

• How is a Mortgage Pre-Approval Different from a Pre-Qualification?
• What’s the Difference Between Fixed Rate and Variable Rate Mortgages?
• Fixer-Upper Flipping: Worth the Investment?

---

2. Good Credit Score:

A good credit score is another indicator of financial responsibility. It shows that the tenant has a history of paying bills on time and managing their finances well. While a perfect credit score isn’t necessary, look for tenants with a score that demonstrates their ability to handle financial commitments.

3. Positive Rental History:

Check references from previous landlords to get an idea of how the tenant behaved in previous rental properties. Did they pay rent on time? Were they respectful of the property? Did they cause any disturbances? A tenant with a positive rental history is more likely to be a good fit for your property.

4. Clean Background Check:

Conducting a background check can uncover any red flags such as criminal history or eviction records. While a minor offence in the past shouldn’t necessarily disqualify someone from renting your property, serious issues may raise concerns about their reliability and suitability as a tenant.

5. Responsible Communication:

Pay attention to how the potential tenant communicates with you during the application process. A good tenant will respond promptly to your inquiries, provide all necessary documentation, and ask relevant questions. Clear and respectful communication is key to a successful landlord-tenant relationship.

6. Respectful Behaviour:

Observe the potential tenant’s behaviour during property viewings and interactions. Do they treat you and the property with respect? Are they courteous and considerate? Respectful behaviour is a good indication that the tenant will take care of your property and be a good neighbour.

7. Willingness to Sign a Lease:

A good tenant understands the importance of a lease agreement. They will be willing to sign a lease outlining the terms and conditions of the rental agreement. This shows their commitment to following the rules and fulfilling their responsibilities as a tenant.

8. Pet and Smoke-Free:

While not necessarily deal-breakers, tenants who don’t have pets or smoke are often preferred by landlords. Pets can cause damage to the property, and smoking indoors can lead to unpleasant odors and potential damage. If the tenant respects your rules regarding pets and smoking, it’s a good sign they will take care of your property.

9. Financially Prepared:

Look for tenants who are financially prepared to move in. This means they have enough savings to cover the security deposit, first month’s rent, and any other upfront costs associated with renting the property. Financial preparedness indicates responsibility and reliability.

---

What happens when it comes time to sell your home or investment property? The posts below will give you an idea:

• Don’t Underestimate the Power of Curb Appeal
• 6 Tips You Need To Know For Your Property Sale
• The Undeniable Advantages of Hiring a Listing Agent Over For Sale by Owner

---

10. Long-Term Intentions:

Lastly, consider the tenant’s long-term intentions. Are they looking for a stable place to call home for an extended period? Or are they just passing through temporarily? A tenant who plans to stay long-term is more likely to invest time and effort into maintaining the property and fostering a positive relationship with you as their landlord.

Finding a good tenant requires careful consideration and attention to detail. By looking for these signs of responsibility, respect, and reliability, you can increase the chances of finding a tenant who will take care of your property and make your life as a landlord much easier.

If you are considering renting out your property and you would like a stress free experience, contact us today for a no obligation consultation to learn more about how our team can help! Reach out at 905-357-8067 or email admin@thebarryteam.ca for more information.