Find the right renter is extremely important, which is why many landlords perform background checks and run credit reports before leasing. Just because everything checks out initially doesn’t mean there aren’t still some things you should be on the lookout for. Here are some signs that will tell you that you may have a potentially bad tenant on your hands so you can proceed with caution.
Questioning the Process
If an applicant questions why he or she needs an application or credit report, this should send up red flags. It could be that the individual has something to hide, and would rather not have you look into things quite so carefully.
In a Hurry
If an individual is in a hurry to move into your investment property quickly, it could be because there is an eviction or foreclosure looming. It might also be because that person is currently having disputes with his or her current roommates. Respectable tenants understand that the process takes time, and will not try to rush you in order to accommodate their needs.
Frequently Moves or Changes Jobs
If a would-be tenant has had multiple addresses over the past two years, it could be because that person is dodging rent payments. You should be especially cautious about people who have lived with others without being added to a lease. Those who tend to change jobs often might not be reliable, and you could have difficulty collecting rent as a result.
Individuals who try to evade legal questions might be trying to hide something. If an applicant cannot come up with a list of references, or gives you the names and addresses of close friends, you should definitely proceed with caution.
Although these warning signs can be useful, you must nonetheless exercise caution in order to avoid a lawsuit. Using a scoring system for tenants and ensuring everyone who intends to live in the property fills out an application can help reduce your odds of getting a bad tenant tremendously. If you’re in need of property management services, Legacy Properties-PM is the best in Aurora property management, call 720.989.1996 or contact us.