Back to List
Posted May 24, 2019 by Boncore Property Management

How to Find the Right Tenant

When you have a vacant apartment, naturally you want to lease it as soon as possible.

However, rushing into a lease with the wrong tenant may be more trouble than it's worth.

Here at Boncore Property Management, we know the questions you ask potential tenants are important. If you want to save time and be able to focus on more qualified applicants, asking the right questions is the key.

One of the best topics to discuss is their current renting situation, because it will often help you determine why they are choosing to move. Ask them where they are living and how long they have been renting there. References speak volumes from a current landlord, so ask if their current landlord knows they are moving and if they will provide a favourable reference.

Next, ensure they can afford your rental by asking about their monthly income and what type of employment they have. While on the topic, discuss your need for a credit check and give them the opportunity to explain any issues that might arise. Find out if they have ever been evicted or had to file for bankruptcy. Although these may be hard questions to ask, they are helpful for determining whether this prospect will be a good fit for your rental long-term.

Getting a feel for who will be living with them is also important. Find out when they plan on moving in and who will be living there with them. Ask about their pets, and if you don't allow them in the building, make sure they are aware. Smoking is also an important question; if the applicant doesn't smoke, you should also inquire about anyone staying with them.

Finally, you can discuss the lease and if they are willing to sign a 1 year agreement. Advise them that first and last will be required before they move in. Remember to give them the opportunity to ask you questions and be as forthcoming as you can with your answers.

If the interview has gone favourably, invite them to book an appointment right away. Prospective tenants want to secure their new rental quickly, so be open to scheduling same day appointments.

We are always here to help! If you need assistance with renting or managing your property, contact us today.