Choosing to rent out your home can be a hard choice for many homeowners to make.

In light of recent housing market trends, many homeowners have to down grade their current homes, or homes that were once for sale are now up for rent.

Other times it is for an investment purpose; a form of retirement savings if you will.

No matter how you find yourself renting out your property; acquiring a quality tenant should be high atop your priority list.

But how do you go about doing that? There are the obvious things you will want to look for; such as verifiable income. Income is not limited to money received from a job: retirement benefits, SSA/SSI payments, spousal and/or child support; are all examples of verifiable income.

Bounced checks and delinquent payments will show up on their credit reports; make sure you run their credit.

Previous landlords can provide a wealth of information; if they have rented before make sure to call them. Ask them if there were any complaints against them, if they paid their rent on time, and if they would rent to them again

If you are on the fence about renting to someone, or you have multiple qualified applicants; examine how they have handled themselves during the application process.

The following are some characteristics to be on the lookout for in a potential tenant:

* They were late to their scheduled appointment to view the home. Depending on the circumstances, their lateness could translate to being unconcerned about inconveniencing others and perhaps not fulfilling personal obligations; such as paying rent on time.

* Ability to get a hold of potential tenants. If during the application process the tenants were very easy to get a hold of or they promptly returned voicemails; that characteristic will more then likely continue through their tenancy. An easy to reach tenant is a desirable person to have in your rental.

* When you showed them the residence they and their children, if any, were respectful of the home. Someone who isn’t respectful at the initial showing of the home will not be respectful of it two years from now.

Deciding to rent out your property is the first step; the second is who to rent it to. Hopefully after reading this article; it has become an easier step to finish.

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