Did you know that property management in the United States has grown 1.9% in 2022? Miami property management can help with tenant placement and much more.
Finding and keeping good tenants is key to financial success when you own properties. If you don't know where to get started, this is the guide for you.
Keep reading to learn three tenant placement tips.
1. Know the Tenant Red Flags
To perfect the tenant placement process for your Miami property, you should know and understand the bad tenant red flags. To do this, you'll need to ask the right questions, such as:
- Have you ever been evicted?
- Have you filed for bankruptcy?
- Do you work?
These all require simple answers and can help you decide on whether a tenant is good or bad. In general, there are four types of tenants you should tread lightly around.
Frequent Movers
Tenant placement services will help you identify frequent movers. A goal in property management is to build long-term relationships with tenants.
If the potential tenant has moved a lot in recent years, it could be due to multiple evictions.
First-Time Renters
First-time renters are typically younger people. Although you shouldn't rule them out completely, ensuring they have the money to pay rent is important.
Some young people take their newfound freedom by avoiding responsibilities they have. They also might not take care of your property.
Complainers
While asking questions or helping a potential tenant fill out an application, you'll get a good idea of their personality. If they are rude and make condescending remarks, it could cause trouble down the road.
These are typically the people that will complain about you and your property.
Mysterious Occupants
If a potential tenant is not specific on their application, consider it a red flag. You also don't want anyone who doesn't explain who is occupying the property.
2. Conduct Background Checks
A Miami property management company can help you conduct a background check on tenants. There are rules and regulations regarding this in each state so brush up on the laws.
You'll need to ask permission to run a background check on tenants. This is something you can include in the application process. Treat all tenants with the same rules to avoid any lawsuits.
Background checks are a great way to see if tenants are telling the truth about their applications.
3. Move-in Inspection
The tenant placement process continues after you've accepted an application. Completing a move-in inspection protects you and the tenant.
You should walk through the property together to take note of preexisitng conditions before the move in.
This is the best and easiest way to monitor any changes and damages done to the property over the rental period.
Hire Miami Property Management!
The tenant placement process is important if you want long-term tenants that pay rent on time and protect your property.
Hiring a Miami property management company can help with identifying bad tenant red flags, conducting background checks, and completing move-in inspections.
We are here to help you place the best tenants. Contact us now to get started.
