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Created on: July 27, 2008 Last Updated: August 22, 2011
Property managers need to be careful in the selection of tenants. The wrong tenant can make life horrible for other residents with noise and damage to other peoples personal property. The landlord may have trouble getting paid and getting rid of the tenant. There is an old saying that 'Haste makes waste' and this is definitely true when placing tenants in a property. A property manager can not allow emotions such as compassion or pity to influence the decision to choose a particular applicant.
Although there is no crystal ball to forecast the future for you,there are some basic things that do post warning signals that a potential tenant may cause problems, if you know what to look for. Consider these ten issues as warning signs that potential tenants hoping to move in will be nothing but trouble:
• Previous evictions within the last 3 years
• Repeated late payments. This can be checked by cancelled check/receipts from the landlord or bank statements if the rent was paid by direct debit
• Felonies. This type of conviction is usually serious offences such as drug possession or violence against others.
• Gang member. A person with gang signs on their clothes or body could mean trouble, even if the tenant is a fairly peaceful type of person, their friends and enemies could make life terrible for other residents.
• Unemployed. The best tenants have some type of employment, even if it's only part-time
• Not enough income to cover the rent. If your potential tenant doesn't have enough money coming in to pay the rent, then they probably won't be paying you.
• No references and unable to provide proof of rent payments
• No bank account. A checking account is a good indicator that your potential tenant is financially responsible.
• Their current house has been badly damaged. It may be worth making an unexpected visit to their current residence to have a peek at the condition of their current residence.
• Their car is unclean and filled with trash, then your property will probably receive the same, if not worse treatment.
These are all indicators of possible problems, however, your best bet is to use the services of a reputable agency to screen potential tenants. There are reference check agencies that will do everything necessary to verify employment, rental history, credit checks; then you can meet and choose your new tenant from the best possible applicants.
Learn more about this author, R Marie Taylor.
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