As a property manager, there are several issues to watch for when it comes to finding the best tenants. A good tenant can stay for years while a bad tenant is one that can leave your property in disarray, costs you money, and leads to stress. Here are some red flags to watch for that can help you avoid the bad tenants.
One of the biggest issues you will face with certain tenants is making sure they pay their rent on time each month. Some tenants have serious financial troubles, and they will be those that always pay late, or end up multiple months behind. Run a credit check on each tenant to make sure you have a clear understanding of their income. It also pays to do a background check and contact their employer to verify their income. Not having enough income can get your tenant in over their head, causing them to struggle to pay rent.
As you do tenant screening, you need to look at the past rental history of the tenants. Past evictions are something to watch out for as they can indicate the tenant has some issues. Contact the former landlord to find out why they were evicted. Sometimes you can learn that the tenant was fraudulent in their application and they lied about their job or other things. Drugs, late payments, and property damage are some of the most common reasons for past evictions to occur.
When you are doing tenant screening, you need to look at their criminal history. Running a background check will allow you to identify if you have a convicted felon, sexual predator, and other issues with a tenant. It is important to review the criminal history of the tenant to ensure you are not placing other tenants at-risk for serious problems.
The application is essential when you are screening tenants. It is important to look at the entire application to see if they have filled out everything. If someone doesn’t fill out the entire application, it usually means they are hiding something, or they are neglectful in reading the application.
When you are interviewing tenants, you need to look for signs of people that seem demanding and high maintenance. Certain tenants will be costly tenants in the long run. Some tenants that try to place too many demands on landlords are those that try and bend the rules such as smoking on the property when you have a no-smoking policy in place.
Keyrenter Property Management Napa, provides residential property management services to landlords of single family homes, duplexes, condos, and small multifamily units. We are not large apartment managers. Our purpose is to help landlords maximize the return on their investment property while eliminating the stressors associated with being a landlord (including bad tenants and maintenance issues). Services we offer include: property analysis, setting rent, tenant placement, leasing services, maintenance coordination, tenant relations, property inspections, rent collection. We offer superior customer service. Because we know how to find quality tenants that can meet the terms of their lease agreement, using Keyrenter’s 14-point tenant screening process, our eviction rate is below 1%.