A successful rental property owner needs quality tenants to turn a profit. Without good tenants, a rental property can’t generate the income needed to remain a sustainable business and maintain a quality property. According to Trend Statistics, in the U.S., a new unit is rented every 80 seconds. Every 30 seconds, a new renter moves in their belongings to an apartment. So, what makes a good tenant? Here’s a closer look at what a good tenant may look like if they’re a college student living in an off campus apartment.
Pays Rent When It’s Due
A tenant who pays the rent on time every time is a terrific asset. You can count on that tenant to help you turn a profit on that unit and earn income. A tenant who pays rent on time also is more likely to abide by the lease and not abuse the property. If every landlord had every apartment filled with tenants who always pay on time, rental properties would be virtually guaranteed to turn a profit while also maintaining the property.
Employed Fiscally Responsible
Most people who live in an off campus apartment have jobs that enable them to earn the income to pay the rent on time or have a co-signer who can provide that. A tenant who has a good job history has a proven record of being responsible. A person who holds a job and advances to better-paying positions is more likely to be a good tenant whose personal life and habits aren’t ones that cause problems. An employed tenant has a work or school schedule and is less likely to be disruptive while home.
Takes Care of the Unit
You need your rental units to stay in their best possible shape for as long as possible. You need good tenants who clean their units and don’t damage them or otherwise pose a threat to your rental property or other tenants. The better the tenant takes care of the rental property, the less often you’ll have to do emergency repairs. You also are less likely to have to spend a lot of money renovating it when the tenant eventually vacates the apartment.
Respects Other Tenants
You need to provide a safe space for your tenants and enable them to have quiet enjoyment of the premises. A tenant who treats other tenants with dignity and respect won’t cause problems. They are less likely to cause others to complain, get into arguments, or engage in generally bad behavior. A quiet and respectful tenant who pays rent is a good one to have.
These were just a few of the qualities a college student living in off campus housing should have. If you’re a student looking for housing options and you take pride in following the above qualities, contact the Lang Development Group. We have a variety of off campus housing!