How Do You Pick a Good Tenant?

Question

The Art of Picking a Good Tenant

Thomas S. · Answer

There is very little art to choosing a tenant, gut feelings are worthless. You must do credit checks and most importantly learn how to interpret a credit report. Everything is about fact collecting info on job duration, income, previous landlord contact etc.

The true art, if there is such a thing, in screening and selecting a good tenant is to never allow yourself to compromise. Set standards and stick to them without exception. Rejecting what could be a good tenant is far better than selecting a bad one. There is absolutely no place in business for feelings. Every applicant lies and the nicer they are the more they are lying.

Too many mom and pop landlords fall for sob stories, are compassionate or simply try to make a sketchy tenant fit their criteria.

My process relies on the principal that applicants are not people. You do not care who they are or what their personal situation may be. All that matters is the facts. I also discriminate but that is a entirely different discussion.

If you do not like something about an applicant, personality, appearance, attitude etc by all means reject them. It is your property you only select who you choose. Remember you are the one in control and the only one with the supreme authority to select or reject. When you reject a applicant protect yourself by never ever telling them why they were rejected. It is none of their business and your priority is only to protect yourself.