We all go through the hassle of trying to pick out the best tenants! Just like the saying “you can’t always judge a book by its cover” things can be deceiving! I know that quote is suppose to be positive but at the same time you have to protect yourself and your property. After all that is what property mangers are for! Here are four things that can help you weed out the bad tenants!
1. A tenant who has rented in the past but can’t produce a landlord reference is probably hiding something — like a prior eviction. What the tenant won’t tell you is as important as what he or she does say.
2. A landlord has the right to confirm that the applicant has sufficient income to cover the rent, regardless of the source of that income. Those with criminal intentions often pay with cash. Those with inadequate income may exaggerate. Applicants who wish to pay cash or are self-employed require more due diligence to confirm that their income is legitimate.
3. A tenant’s credit is a mess. If the credit check shows red flags, you are dealing with an individual who has had a tough time managing their money. That increases the risk that this person will pay late, or overextend and run out of money to pay rent. Running a credit report is the only way to get an honest picture of a rental applicant.
4. Professional tenants — those who have ripped off previous landlords — often ask to pay rent or deposit in installments. They say they will have the money by end of week, for instance. But these tenants know the game.
Here at All County Alamo we strive to make sure your property is in good hands. These are four red flags we look for diligently!