How to Avoid a Bad Tenant:
Bad tenants and renters can destroy your property, leave without paying, and cause a ton of headaches and expenses.
Don't Get Stuck with a Bad Tenant
Here are a few tips that can help you get the kind of tenant that will stay and pay their rent without destroying property.
Require a Rental Application-Potential tenants should always fill out a rental application. It makes no difference if you know them or they are a friend of a friend...make sure that the application is completely filled out. Driver’s license number, social security, date of birth, current and previous address, current and previous employer, and references as well as a criminal background check certainly help too.
Run a Credit Check- Always run a credit check on any potential tenant. It is not recommended to use a tenant provided credit report, as they have their best interests in mind and you have yours. There are numerous credit scoring systems and tenants will choose the most favorable. If you’re not working with a Property Management Company you should consider using a company like First Advantage Safe Rent to get a credit check.
Interview Previous Landlords and References- Play close attention to tenant’s rental history. Contact at least two previous landlords and their references. Be weary of tenants who use their buddies as references. Use online tax records to make sure previous owners names are correct.
Verify Income- Call their employer to verify income listed on application. It is also a good idea to request check stubs.
Too good to be true deals- Tenant requesting to pay cash up front for the lease. The old saying rings true here, "it it sounds too good to be true then it probably is." Quick move in tenants that have to be in tomorrow and tenants that want to sign a lease without seeing the property should also be huge red flags that require thorough investigation.
Inspections- You have the right to do interior inspections with the proper notice. Tell them up front you will do inspections during the lease term.
Don't Just Trust, Verify All Renters' Information Remember that when it comes down to choosing tenants, decisions should always be determined based on fact and hard references. Anything that doesn't add up or that sounds suspicious should immediately raise a red flag. Take it from us, we've been property managers for a long time and we've seen it all.
