Rental properties are often the biggest investment assets for an investor. In order to maintain them and ensure steady profits, it is imperative to find the right tenant. A good resident can help you earn adequate rental income, while a bad tenant can become a liability by causing more damage than profit. To weed out the undesirable options of potential tenants, you need to ask the right questions during the screening process.
Here are the three most important questions that you should mandatorily ask every candidate looking for tenancy.
1. What is your reason for moving into a new property?
The reason for moving in is one of the most fundamental questions to ask to prospective tenants. In addition to verifying their reason for leaving the previous home and finding a new one, this question also sheds light on their history as a tenant. The applicant may give reasons like a bigger space, change in location due to employment reasons, or other personal plans.
However, some applicants may divulge eviction, violation of the previous rental lease, or other troubling behaviors. While there is no guarantee that every applicant might tell the truth, the question will still bring essential issues to your notice.
2. How many people would be staying with you?
The general occupancy standards in a Chula Vista rental follow a two plus one pattern. It means that a one-bedroom rental unit can have three residents. Asking this question will help you know the number of people who will be staying in the property. It will also help you decide whether or not to select the candidate, based on the adherence to HUD occupancy guidelines.
The wear and tear your property will go through also depends on the number of people living there. Therefore, it is essential to ask prospective tenants about the number of people that will be staying with them there.
3. What is your current income? – Tenant screening question
Delay in rent payment and non-payment of rent are the most common reasons for conflict between the parties. The issues also stretch to the point of evictions. Therefore, it is vital to verify if your prospective renters earn well enough to pay rent regularly. The ordinary income you can expect them to have will be two and a half times the rent you charge.
It also gives you an initial idea of whether they will be able to pay an adequate amount in case of repairs or maintenance issues. You can ask the candidates for income proof for verifying that they are employed and earn a regular income. You will also know if their means of earning are legal. All legal sources of income must be considered.
There are several other questions you can ask the applicants. It includes interrogating about their credit score, eviction report, and pet preferences. Although these aspects are scrutinized during the tenant screening, it is good to have a brief knowledge about them beforehand.
The tenant screening and selection processes are critical, but tedious. You can tackle the stress by hiring an experienced Chula Vista property management company like Encore Realty, Inc. that has a comprehensive tenant screening process and written rental criteria. Contact us at Encore Realty, Inc. if you require assistance regarding the tenant application and the screening process.