Every landlord’s worst nightmare is renting their space to a set of bad tenants. From the loud-partying college students to the young couple with no respect for the condition of your property, renting out to bad tenants can cause you to spend hundreds or even thousands of dollars making repairs to your space when they move on. It can even cost you additional money in missed rent payments. So, how can you avoid renting out to bad tenants? These five tips will help you meet the perfect match for your space!
- Follow the law. Your desire to find the perfect tenants for your property doesn’t mean you can ignore federal housing laws. You are forbidden from discriminating against tenants based on protected classes of persons: race, gender, religion, country of origin, familial status (you cannot refuse to rent to couples with children), or disability.
- Ask for a reference. When interviewing potential tenants, make sure to remember to ask for a referral from a previous landlord. Call and ask questions about the condition of the space when the tenant left and how consistent he or she was on rent payments—tenants’ previous landlords can offer great insight into their character.
- Improve your interior. No one wants to live in a space that’s run down and in disarray. Making strategic improvements to your property can help you attract tenants who respect your space and want to keep it clean and in order. For example, kitchen cabinet refacing in Burlington County, NJ, can help you give your buyers a fresh new kitchen without spending a ton on a remodeling overhaul.
- Invest in curb appeal. “Curb appeal” refers to the look and attractiveness of your property from the exterior. Spending more money and time on lawn care can show tenants that you care for your space. It can also encourage your tenants to take pride in the interior of your property as well.
- Limit the number of people moving in. Sure, more tenants can mean more money. However, it also means more wear-and-tear on your property, meaning you’ll spend more in the long run to maintain your space. Always limit the number of people that are on the lease—a maximum of two per bedroom is widely considered to be the maximum.
Improving your space before renting it out can help you fetch a higher monthly price on the market. To learn more about home improvement and kitchen remodeling in Levittown, PA, give the team at Capital Kitchen Refacing a call today at 267-390-4823.