Rudy Andriani M.D, New York, on Choosing the Right Tenant

As a landlord, there are multiple responsibilities that you carry every day. Maintaining your property, addressing tenant issues, keeping things in order when it comes to rent payments and leases; the list goes on. One of the most important responsibilities you can have as a landlord is choosing the right tenants to move into your property. With the right tenants, you can maintain steady payments, and have a peace of mind that your property will be well taken care of. If you’re looking for new renters, here are some useful tips to consider:

Be Ethical
The first thing to remember when meeting any potential renters is to always remain professional and ethical. As a successful landlord, it is your responsibility to treat all potential tenants equally and with respect. Regardless of gender, race, sex, etc. all tenants should always have a fair opportunity to apply and become a renter within your property.

Credit Check
When you have a new applicant, one of the first steps after meeting them is to run a credit check. Though you’re not doing this to place any judgment, a credit check is essential in knowing the potential tenant's ability to pay bills on time and be financially responsible. With a credit check, it will likely verify the tenant's income and give you a report on their credit history. If their credit history and income are in line with your expectations and show the tenant can afford the rental without an issue, this is a great sign. Additionally, you’ll want to consider the fee of running a credit check. Some landlords charge the potential tenant, while others don’t; this will be up to your discretion.

Rental History
If your potential tenant has rented before, you’ll definitely want to contact their previous landlord or home association, and if possible, two of them. While a credit check will provide you with financial history, contacting potential tenant’s former landlords can notify you of any previous problems you should be aware of. You’ll want to ask questions about if the tenant paid rent on time if they gave 30 days or the required notice before leaving the previous rental, and if they received regular complaints from neighbors or others within the community. There will always be cases where you’re dealing with a first time renter who may not have a prior rental history. In this case, you can ask for personal referrals or require a co-signer.

Criminal Background Check
Running a criminal background check is another important part of finding the right tenant for your property. Some states do have regulations on any potential discrimination based on criminal convictions; however, this would be on a circumstantial basis. Background checks can often be combined with a credit check by using a screening company. They can find any information that you declare if the potential tenant would be a danger to the safety of any other tenants. For any minor offenses, consider what they are, and remember to act ethically.

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This article was originally published on rudyandriani.net

About the Author

Throughout his career, Rudy established himself as a top-notch physician and has earned a number of awards and distinctions to honor this. He was named in the New York Magazine Top Doctors edition in 1997 and from 1999 to 2013. Additionally, Rudy Andriani M.D., is an avid real estate investor, and has been for nearly four decades. For 16 years, he purchased and managed real estate in New York City, Vermont, Connecticut and New Jersey. Follow Rudy on Twitter.

For more information, and Rudy's healthcare blog series, please visit rudyandriani.com.

For Rudy's blog series on NYC Real Estate, please visit rudyandriani.net