3 Things a Landlord Wants to Know

As a landlord your job can be challenging. You have to fill up your rental property as full as possible without compromising your rental standards. One of the most important parts of a landlord's job is tenant selection. As such an important part of the process, you can rest assured that they have certain things that they look for in a prospective tenant. If you are in the market to rent a property, there are a few things that you will want to make sure that the landlord knows. Here are a few things that landlords want to know before they will rent out a property. 

1. Income

The first and probably most important thing that a landlord wants to know is whether you have income coming in. They don't necessarily care if you have a job, but they do care if you have money coming in. A steady job helps your chances, but as long as you have some form of money coming in, they usually do not care. They know that the rental payment will be one of their tenant's largest monthly expenses. Therefore, they will want to know that you will be able to make your payment every month without fail. 

Many landlords will even have income ratios that they use to determine whether or not you make enough money to live in their property. They will want you to make a certain amount of money depending on how much the rent is for the particular unit that you want. This will allow you enough money to pay the rent and have some left over for living expenses. While each landlord's criteria is different, they will undoubtedly want to know that you can afford to make the rent payment.

2. Rental History

Another critical thing that a landlord will want to know is your rental history. They will want to know why you are moving into their property and why you left the last place that you lived. They will want contact information for your previous landlords so that they can contact them. They will want to see that you have had a steady rental history and not jumped around too much. They will want to know if you ever missed any payments and the condition of the property when you left. If your previous landlord tells them that you trashed the unit before you left, this will not bode well for your chances. 

3. Future Plans

When you are moving into a property, the landlord will usually ask what your plans are for the immediate future. They will want to know if you plan on being in the property for at least a year or if you just need a place for a month or two. They will want to know if you have any long-term desires for the property or if this is just a place to get you by. Ultimately, your future plans could play a role in whether or not you get the property. 

 

 

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