Q: When it comes to tenants for your rental property, what factors should go into choosing them?
Adam Wavrunek: Whether you self manage or hire a management company, I would recommend doing the following things for any potential tenant.
1. Arrange a meeting with the potential tenant at their current apartment. This gives you an opportunity to see where they live and who they are. You can learn a lot about a potential client this way. I do this with every potential client I know.
2. Do a little cyber stalking. Facebook, LinkedIn, Twitter. You’d be amazed how many people do not have private social media profiles. You get some great insight into who they are by taking a peek.
3. Pull a professional credit report and criminal background and eviction check. You have to pay a little more for the last two, but it’ll let you know if they’ve ever had problems with a previous landlord.