The title really says it all. If you’re the manager of an apartment building or a real estate agent renting out a townhouse, what do you want (or not want) to see in a potential tenant? I’m young and hitting the general rental market for the first time and have no personal experience from which to form an opinion.
My best guess is that they want to know that you’ll pay the rent on time and take good care of the place, but assessing the latter strikes me as hard.
My experience is as a renter, but that has been that those managing a complex only care about the financials, really.
One thing that initially surprised me about the financials is that working through a temporary agency counted for nothing in terms of employment. A regular job at McDonalds would count, but a job that paid considerably more through a staffing agency didn’t mean anything to them, because it couldn’t be counted on as an ongoing source of income.
Also, they usually have a strict minimum income guideline, because rent should be no more than 30% (I think) of gross income.
If the financials didn’t work out, the options were to get a cosigner or pay something like 6 months’ rent in advance.
People renting out space in their own homes, like attached apartments or duplexes they live in the other side of, tend to be much more concerned with whether you look like you’ll take care of the place. Apartment complexes, IME, ask for enough damage deposits and just plan to take their chances.
Individual landlords might be more likely to be more flexible about your income ratio and source if you otherwise seem like a good bet.
If you have no kids, no pets, steady employment, and show up in business casual dress with a car that doesn’t look like you’re living in it, you’ll already be ahead of many renters.
Rental regulation is very local, so some things, like the income guideline, may vary in your area.
I can’t really tell you what landlords look for, but as a first-time renter, I recommend that you become familiar with your renter’s rights in your jurisdiction. These are usually at the state/provincial level, but they do vary significantly and it’s important to know your rights in order to protect yourself.
Just as examples based on where I’ve lived, denying rental to someone with a pet is illegal in Ontario, but legal in many other jurisdictions. Ontario allows collection of first, last and security deposit when you sign a lease; Québec allows for first and last, but asking for an additional security deposit is illegal. In neither province can you simply deduct costs from your monthly rent or withhold rent if you have a grievance, but other threads here have suggested that some States allow you to do just that. Learn what parts of the apartment are the landlord’s responsibility to maintain - usually they have to repair broken plumbing and heating systems, for example, but might not have to fix a broken doorbell.
Anyways, I know way too many people who have gotten screwed over by slumlords (I’m actually one of them, though we did resolve things ($) the day we moved out!) and I wouldn’t want that to happen to you!
As a landlord, I look for a good credit rating. I know people with a high rating are careful to maintain their rating, and will not do anything (like stiff me on my rend) to jeopardize it. This approach has served me well…TRM
Just curious, what do you consider a good credit rating?
I want someone who is going to pay the rent on time and not trash my property.
As a one-time landlord, I was looking for:
Someone who would pay the rent. Who has a past history of paying the rent. If I couldn’t establish that (I couldn’t, in the end - the only applicants with a recorded rental history didn’t have a good one), someone who had a solid job and could pay the rent.
Someone who wasn’t likely to smoke, as I’m moving into the house when they vacate.
Someone who’d live in the house (long story, but I’m across the road from a specialist school with a small catchment area and charging cheap rent. It’s not unknown for people to rent these houses and leave them fallow to get their kids into the school).
Someone who I thought would look after the place.
That’s pretty much it.
Out of curiosity, what are the downsides of a fallow place? As long as you’re getting rent, I’d think it’d be a wash.
Primarily, especially given where it is, squatters. Getting them out isn’t easy, and - squatter propaganda aside - they typically treat the place as disposable.
The other drawback is that maintenance doesn’t get done, faults don’t get picked up and the house decays, but squatters are the big one.
Pays the rent, doesnt trash the place, doesn’t bother them about little things- but does inform them if something serious is going wrong*, and doesn’t disturb the other tenants. In order.
Fer crikies sakes- plunge your own toilet, but if the seal is leaking, then let them know so a plumber can be called.
Ah, thanks. Curiosity satisfied!
Great answers. Thanks!
Based on experience in renting an older farmhouse, a small cabin, and a duplex, these are the things my mother wanted:[ol]
[li]pays the rent – which includes both:[ul][/li][li]is able to pay the rent (so you need to verify their income)[/li][li]and is willing to actually make those payments (so credit checks or past renting history checks)[/li][/ul]
[li]doesn’t damage the place[/li][li]keeps the place in good repair[ul][/li][li]tells us about things needing repair (like not ignoring a leaking pipe until the plaster falls in)[/li][li]doesn’t demand immediate fixes for minor problems (like suddenly demanding that a dripping faucet be repaired – on the weekend)[/li][li]special credit given to handyman tenants willing to do minor repairs themself (mother would rent to farm kids before others – they seemed willing & able to do temporary minor fixes)[/li][/ul]
[li]doesn’t bother the other tenants (this might be higher priority except that these rental places were on a farm, semi-isolated.[/li][li]pays the utilities (these were separate, but if they skipped owing them, we got in trouble with the utility companies)[/li][li]doesn’t do criminal activities on the property [/li][/ol]
Good question! It depends on the type of service you use. Generally, I ask the credit rating agency to give me a verbal assessment: bad, good, very good, etc. Reading those reports in the raw is like trying to decipher hieroglyphics…TRM
When I made renting decisions, my primary source of information was a credit and background check.
What I looked for was, in order of importance:
Some of the things that were not too important:
Single. Big tits. Preferably female.
Based on my parents renting out the house I grew up in for the last few years, here is my list-
Pay rent, on time. All of it.
Provide references for previous rentals that we are allowed to contact. If your last couple of landlords won’t vouch for you, I don’t want to rent to you.
Have a steady job, or some way to pay the rent. If your parents are paying, fine- we’re putting them in the lease too.
Initial the paragraph in the rental agreement about criminal activity, the cops being called to the location, etc. The city charges landlords if they have to keep coming out, and more than one “misunderstanding” will get you evicted.
Once you are my tenant, I would love it if you reported problems right away, didn’t trash the place, and respected the fact that this is a family neighborhood, not Fraternity Row. Believe me, if the neighbors like you, it goes a long way towards getting your lease renewed. 
I’m a landlord, and what I typically look for when looking to sign a new lease agreement are the following:
Did you find many employers that were willing and able to give out this specific and private info about your potential tenants?