April 16th, 2016

HIGH ENGAGEMENT LANDLORDING IS NOW AVAILABLE! 

5 Ways to Getting and Retaining Good Tenants

A good tenant is really worth his or her weight in gold. That might seem like a common compliment, however, it is very true—ask any landlord. Better yet, ask any landlord who has had bad tenants.  I have managed hundreds of tenants over many years, and have learned a few things about attracting and retaining good tenants. Here is a quick list to check and find good and qualified tenants:
 

1. A tenant should make 3 to 3.5 times the rent in monthly income. If the rent is $1,000 per month, the tenant should have a monthly income of $3,000 to $3,500. Income of $3,500 per month would certainly be better.
2. A tenant should have a good and long job history, and preferably with the same company.  If a tenant has been with the same company for many years, it shows a pattern of responsibility and consistency. 
3. The tenant is family orientated.  Tenants with young children are great. Children encourage conscientious responsibility.
   
4. The tenant preferably has a checking account and credit cards, and a clean and newer model car. 
5. A tenant should have reasonably good credit.

To learn more about getting good tenants get your copy of High Engagement Landlording.