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Armen Mardirousi, MBA’s Post

Armen Mardirousi, MBA

Dealmaker | Problem Solver | Real Estate Broker | General Contractor | Developer | Business Consultant

1mo

📆 Day 49 of 365 - Good tenants are key to rental success! Learn the steps to screen tenants effectively and avoid common mistakes. #PropertyManagement #TenantScreening

Transcript

Hello everyone, it's Armin Madrasi with your daily dose of real estate. Today, let's talk about how to screen tenants for your rental property. Good tenants are key to maintaining your property and ensuring consistent cash flow. Start with the rental application that collects essential information, including employment history, references, and rental history. Next, perform a credit check to see how the applicant manages their financial obligations. A strong credit score. Indicates reliability, but don't dismiss applicants with lower scores without understanding their full situation. You'll also want to run a background check to look for any red flags, such as past evictions or criminal records. Verify employment and income to ensure the tenant can afford the rent. A good rule of thumb is that their monthly income should be at least three times the rent amount. Finally, contact previous landlords to learn about the applicants. Mental history? Were they respectful of the property? Did they pay rent on time? Affect the tenant? Screening helps you find reliable tenants and avoid costly issues down the line. If you're looking to rent out your property and need help finding a great tenant, I'm here to help. Thanks for watching. Tomorrow we'll talk about how to handle rental property maintenance. See you then.

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Armen Mardirousi, MBA

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