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I am looking to rent a home. I notice that most of the homes I'm interested in are also for sale and I've been told that the sellers would rather sell than rent. However, I notice that these homes have been on the market for a very long time so I don't think they are going to sell in the next couple of months. I figure sellers would consider renting if they felt good about the people wanting to rent the house. So I want to (honestly) present my husband and me as great tenants.
If you had to rent your house out because you couldn't sell it, what did you look for (insist on) in tenants?
I'm thinking this is a case where the more the owners know about us, the more willing they would be to rent to us (if we in turn choose their house as the one we want to live in).
My ideal tenant:
Good credit
References from previous landlords
No criminal history
A stable job
And that they come accross as nice, honest people that will take care of the home
What if there are no references from previous landlords because we have never rented before. We've been homeowners for the past 20+ years. Is that considered a good thing?
I would want to know then why you went from being a homeowner in a down market to a renter. Did you lose your home to foreclosure? If you did, can you afford the rent? Is it a lot less than what your payment was?
In addition to all those things the poster stated above, I want to make sure you have no pets. While I have a dog and love him dearly, I don't want someone else's animal tearing up my house and my yard. I have a strict no pet policy on two of my units. The other one isn't in great shape anyway, so I let them have animals if they want them.
I also want someone that is amenable and nice and isn't going to be calling me every second to fix every little thing. If you say, My husband is really handy and if something minor comes along, he can fix it - you're in!! LOL! I don't expect my tenants to be making repairs, but if a sink gets clogged or a garbage disposal needs to be re-set, I don't want to pay for someone to come out there and do that b/c my tenant is clueless!
I love having homeowners as tenants. In general, they take much better care of the property, and they know how to do simple things like change the air filters and test the smoke detectors. That would be a positive for me. Otherwise, I agree with AlexTx.
IMO credit scores are the best indicator of a person’s responsibility. They give you a factual long term look at how a person handles their business obligations.
I would want to know then why you went from being a homeowner in a down market to a renter. Did you lose your home to foreclosure? If you did, can you afford the rent? Is it a lot less than what your payment was?
In addition to all those things the poster stated above, I want to make sure you have no pets. While I have a dog and love him dearly, I don't want someone else's animal tearing up my house and my yard. I have a strict no pet policy on two of my units. The other one isn't in great shape anyway, so I let them have animals if they want them.
I also want someone that is amenable and nice and isn't going to be calling me every second to fix every little thing. If you say, My husband is really handy and if something minor comes along, he can fix it - you're in!! LOL! I don't expect my tenants to be making repairs, but if a sink gets clogged or a garbage disposal needs to be re-set, I don't want to pay for someone to come out there and do that b/c my tenant is clueless!
Good luck.
Just a little hint, our leases and handbook state that plumbing problems like clogged drains and jammed disposals are the responsiblity of the tenant to pay for repairs. Things happen, sure, but if the tenant puts bones in the disposal or something, then they pay to have it fixed.
I am looking to rent a home. I notice that most of the homes I'm interested in are also for sale and I've been told that the sellers would rather sell than rent. However, I notice that these homes have been on the market for a very long time so I don't think they are going to sell in the next couple of months. I figure sellers would consider renting if they felt good about the people wanting to rent the house. So I want to (honestly) present my husband and me as great tenants.
If you had to rent your house out because you couldn't sell it, what did you look for (insist on) in tenants?
I'm thinking this is a case where the more the owners know about us, the more willing they would be to rent to us (if we in turn choose their house as the one we want to live in).
Excellent credit
Triple the rent for income
Good references if possible (we deal w/ a lot of people also who have no previous landlord)
Verifiable documentation of income, i.e. pay stubs, self employed persons must present copies of 2 years tax return, benefits letter for retired persons, "new hire" a letter on company letterhead from employer confirming new job and salary.
If they own a house elsewhere, how is mortgage covered? Lease? Adequate income for both mortgage AND rent?
I always take previous landlord references with a grain of salt.
A wise old broker & investor once told me that he gave the best references to his worse tenants.
Why?
So they'd get the heck out of his property and be someone else's problem.
I'm with you. I don't trust references.
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