First Time Searching for Tenants

[Christopher Morris]

Hello BP, 

First time duplex buyer looking for some advice on searching for tenants. What are the platforms for marketing? Zillow, craigslist, Facebook? What to look out for when trying to get a good tenant. Should I go for a year lease or 2 year lease? 

Any advice / stories would be very helpful! 

[Patricia Steiner]

One year lease.  Sometimes a swipe For Rent sign in the yard is enough and a lot of folks use Zillow in their searches.  Other factors:

1. Be sure to set your tenant criteria first.  Minimum credit score, employment history/length, more.  This ensures that you have criteria that is not subject to a violation of the Fair Housing Act (discrimination claim).  And, have condi photos of the property pre-tenant taken to evidence condition.

2. Screen only qualified tenants; this also means doing an online verification of their employment and past residence. Google those...falsification of applications is common. They will have a friend take phone calls to verify employment and past residence. Address searches have shown people living at Taco Bell and working at a vacant lot address. And, check their social media and more...if the guy has an online profile that is not in keeping with who he says he is, it's a safe bet that his online persona is what you'll end up with.

3.  It's worth having an online application associated with a screening resourse. The cost is nothing - as you can pass it on to the prospective tenant. This along with your online search is a minimum vetting process.  

4.  You need a real lease - and an Addendum which outlines in plain language what the rules of the property are.  If you're allowing pets, you'll need a pet addendum as well.  And, the tenant signs the lease first - then you as the landlord to accept it.  

Marketing a rental is the easy part. Selecting a quality tenant and protecting your investment - those are the real drivers.

Hope this helps.