Selling Your House When You Have Bad Tenants
If your tenants are unreliable, chances are you need to relocate soon. Perhaps they’ve left without paying their rent; or perhaps the tenant has a great tenant but your landlord won’t renew the lease. Either way, finding a new house without anything available for purchase can be challenging without an available option. Here’s how to prevent such problems in the future so that you can resume selling your property as quickly as possible.
Before You Rent a House
Before renting your home, ensure the tenants in the house possess good credit and the capacity to make timely rent payments. Even if landlords are selective about tenant qualifications, don’t let that stop you from renting; many will happily accept good tenants with good credit histories. Click here for our client list: https://www.texascashhousebuyer.com/.
Choose A Cozy House
When selecting a rental house for your family, look for one that’s spacious enough but not too big to manage. A house that’s too large increases the chance of getting dissatisfied tenants since larger areas tend to draw better-paying clients than small starter apartments do. Furthermore, try finding an area where you can install a fence so tenants’ dogs won’t wander into your yard.
Finding a Successful Lease Agreement
When renting out houses, you should use an unconventional lease agreement. Be sure to review it thoroughly if you feel uncomfortable with its language or are worried your tenant might try to back out of their commitments; then consult a lawyer before signing anything.
Take A Good Background Check
Inspection reports may not always be reliable, so don’t just rely on them for information about a tenant’s past. Research court records, credit checks and criminal records related to the tenant; speak to their employer, previous landlords and check public records – everything you can do to guarantee these individuals are trustworthy individuals before you grant them your trust. Do all these things so you feel secure about who your tenants are before granting them your confidence.
Check The Tenants Credit Report
A tenant’s payment history is the most critical element of their credit report. Look for late payments from three years ago and evictions that occurred five or more years ago (or more). Ideally, you want to see at least two years’ worth of recent good credit history.
Earn A Letter Of Employment
It is imperative for tenants to have a job, otherwise they could potentially lose the house too. Don’t fret over their financial security if they default on payments or damage your property due to pet-related issues; focus instead on keeping them busy with work so as not to worry later about financial troubles.