Red Flags to Look Out for When Choosing a Tenant
Category Advice
It's always a bit tricky to tell if a tenant is going to be a good match for you from a brief meeting at the viewing. If you're not sure what to look out for, here are some red flags that will help you weed out the bad apples:
Bad signs from potential tenants
Unwilling to have their credit record checked
If a potential tenant is nervous to have their credit history and financial situation checked, it's most likely because it's not up to standard.
Always ensure that the tenant has sufficient income to sustain their lease agreement. A good measure to tell if they can afford your property would be to ensure they earn at least 3.5 times in income than the rent payable.
Credit history will tell you whether the potential tenant is reliable in making their payments or not. A credit record is your personal responsibility score - you don't want someone in your property who isn't responsible. If a person is in the red and has large amounts of debt, we advise to not even consider giving them a lease agreement.
Bad landlord references
Ask your prospective tenant for any previous landlord references. If you've been given references, don't skip over them.
Any history of evictions or sour tenant-landlord relationships are giant red flags. If the tenant speaks negatively about their previous landlords, it's a good idea to validate these complaints with those landlords and ensure the issue isn't coming from the tenant's side.
Lied on application
It's important to do a thorough tenant screening to confirm that there are no lies on their application.
Don't just take the tenant's word for it without validating their application. It's easier to double-check an application than it is to remove a tenant from your property if they are not respecting the rental agreement.
Criminal history
Checking criminal records is essential. Gather information about any possible open or dismissed cases against your prospective tenant.
DUIs, assault and any other alcohol or violence-related charges are big no-nos! Even recorded parking tickets will help you determine the character of the tenant applying.
Lack of stability
You want someone in your property who you can rely on for stability. If they are hopping around different homes and can't keep a job, it speaks volumes about their dependency.
If their job history is all over the place, it likely either means your tenant struggles to commit, or they aren't a competent worker. You want a tenant you can trust, and this is indicated in their job stability.
If you can see the applying tenant has been frequently moving, it's probable they won't stick around in your property for too long, either. You don't want to commit to someone who is not going to commit to you.
If you want to ensure you get the right tenant in your property, SAproperty.com can assist you through the entire screening process! Contact us today for more information and advice.
Author: SApropety.com
