It’s time for you to find a new home. That’s so exciting! In a competitive rental market, however, finding a landlord who accepts your application can be a real struggle.
Dealing with rejections can be tough when you’re looking for a new place to live. What do landlords look for in a tenant, anyway? What could you be doing wrong?
All landlords are different, but we’ve come up with a few common things that the average landlord wants to see in a potential tenant. Read on to learn more.
Table of Contents
Good Credit History
Landlords often check potential tenants’ credit reports to get a good idea of their financial responsibility and determine if they have a history of paying bills on time. Granted, having a poor or nonexistent credit history doesn’t mean that a tenant can’t pay rent, but it’s a way for a landlord to get a general idea of the tenant’s capabilities.
Younger tenants may not have credit histories yet. In that case, many landlords are willing to work with them or use other factors during the tenant screening process to decide whether or not to let them rent the property.
For example, if someone has no credit, but they have a cosigner and steady income, a landlord is likely to still let them rent.
Stable Income
Landlords want to make sure that their tenants have a steady income that is more than enough to cover the rent and other living expenses. Depending on the laws in the area, they may require that tenants make three or more times the rent every month. In some places, like New York City, it’s common for tenants to have to make 40 times the rent per year!
Landlords may ask for proof of employment, pay stubs, or bank statements for income verification. If the tenant makes alternative income through stipends, allowances, an inheritance, or if they’re an independent contractor, they may have to prove that they have a certain amount of money in their bank account.
Landlords don’t want to have to go through the hassle of chasing down tenants every month, dealing with evictions, or going through a collection agency for unpaid rent. There’s never a guarantee that a tenant’s financial situation won’t change, but verifying funds is a good place to start.
Positive Rental History
Not all tenants have a rental history, but landlords prefer to see a rental history before renting out their properties. There are ways around this, however.
Landlords may contact previous landlords or other rental references to ask about a tenant’s past rental history, including whether they paid rent on time, took care of the property, and stuck to lease agreements. However, it’s equally common for them to not reach out at all, as it’s common for them to not get answers.
If a potential tenant has no rental history, things can be tricky. If this is their first time living on their own, but they have no negative rental history, that’s often enough.
Even with only one previous landlord, as long as the tenant stayed for the duration of their initial lease or longer, it’s a good sign to future landlords that they’ll be reliable enough.
Clean Criminal Background
Landlords may conduct a criminal background check to look for criminal history. Now, there are laws surrounding this, so landlords need to be careful and ensure that their behavior isn’t discriminatory.
Generally speaking, landlords want to make sure their tenants aren’t a threat to the property or any other tenants. The background check is a precaution, and if you know something questionable is sure to turn up on yours, it can be helpful to get ahead of it and open up that conversation with the landlord directly.
Consistency and Reliability
Landlords value tenants who demonstrate consistency and reliability when it comes to their rental applications and any other interactions. While an experienced landlord will understand that prospective tenants have lives and jobs that may delay their responses, they also expect promptness. After all, for them, this is a business agreement.
Consistency, in this case, includes promptly responding to calls or emails, showing up to scheduled appointments for viewings, and providing complete and accurate information on rental applications to the best of the tenant’s ability.
Landlords should understand that tenants are people too, and thus may make mistakes. However, they also expect prospective tenants to be responsible. That initial responsibility is a good sign for the future.
Compatibility with Property
Landlords may also consider whether a prospective tenant’s lifestyle, such as having pets or smoking, is compatible with the rules and restrictions of the property that they’re renting out. Tenants will be spending (ideally) at least a year there. It’s good for them to be compatible.
If there are other tenants on the property, the landlord may also take that into consideration when it comes to compatibility. Landlords want to make sure that everyone is comfortable with the arrangement.
Communication Skills
Effective communication is key to a successful landlord-tenant relationship. Both landlords and tenants need to have at least somewhat acceptable communication skills.
Landlords may look for tenants who are responsive, courteous, and proactive in their communication. Tenants should be professional, prompt, and polite when they reach out to potential landlords. Again, on the landlord’s side, this is a business arrangement.
Tenants who show that they can’t communicate may be red flags for landlords.
What Do Landlords Look For? Many Things
So what do landlords look for in a potential tenant? At the end of the day, they want tenants who seem responsible enough to pay their rent on time and report any problems as soon as possible. If a potential tenant is able to show those qualities, a landlord should feel comfortable with them moving in.
If you’re a would-be tenant who’s worried about proving yourself, open up a conversation with an independent landlord. You’ll find a home in no time.
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