The weekly newsletter that ups your landlord game!
September 23, 2022
Pop quiz, landlords: what do you do if your tenant won’t vacate your rental after their lease is up?
In this week’s edition of TheKey, we’re breaking down everything you need to know about these holdover tenants while reflecting on the state of the housing industry as a whole.
Spoiler: you’ll definitely want to be prepared for the next stage of the market.
When you have questions, we have answers - so when you asked us what to do if your tenant won’t leave after the lease ends during our monthly webinar, we dug in right away.
The result? A brand-new article on what to do with holdover tenants, or renters who stay in a unit after the original lease contract ends.
In this situation, you can either:
Treat the renter like a trespasser and file for eviction
Lean on the clause in your lease that outlines move-out notifications, timelines, and expectations
If your current lease doesn’t clearly define when you should be notified of your renter’s plans to vacate the unit or renew their tenancy, you can’t afford to miss this article.
"I am a fairly new landlord (first time tenant turnover) and am looking to choose between two great candidates, looking for some advice on how to choose the best tenant.
Female A is a young professional (mid 20s), stating her reason of moving is that she is newly single. She seems responsible and quiet and resides in the local area. She seems low maintenance but worried that she is rushed into a decision as she is trying to relocate out of the house her and her ex partner share. She also makes significantly less than Female B, and barely makes 3x monthly rent which seems like the holy grail number online.
Female B is a professional (mid 40s), reason for moving is that she is relocating from out of state to be closer to home. She notes in her application she is a self-doer and enjoys doing small home improvements to places she rents. She seems very on top of it and professional, but has asked a lot of questions (not bad ones, just seems really attentive and interested). This worries me that she will be high maintenance. She also is relocating later this month, therefore this application has all been digital ([I] have facetimed her).
They both seem great and would be happy to rent to either of them, but [I’m] having a hard time deciding so would be appreciative of any help and advice out there! "
- From Spiritual-Chain-4337 on Reddit
TurboTenant’s Take Having two great tenants to choose from is a nice problem! First, have you gotten tenant applications and run tenant screening reports? An excellent way to decide on a renter is to:
Run a tenant screening report for every serious applicant
Get to know your prospective tenants (social media sites like LinkedIn could be great to further verify their current employment)
Once you’ve collected all that information, rent to the first approved tenant that can sign and put the money toward the rental.
But before we sign off, it’s critical that you follow the Fair Housing Act when considering applicants. Don’t base your decision on any protected class or characteristic! Instead, lean on your tenant screening criteria to find a good renter.
We'd love to hear your experience
What tenant screening criteria do you ask your applicants to meet?
Reply to this email with your story and you might be featured in next week’s newsletter!
