21 of 27

Write now Article Tools

When I attended Kaplan Real Estate School of Nevada, I thought their 8 week course was very efficient and thorough with the information they provided their students to function and achieve success in the real estate industry, but I still think for rookies coming into the sometimes brutal world of real estate, the week we studied property management, as real estate professional we could have certainly benefit on a section that clearly prepares you for the pitfalls that can occur when dealing with renters. I learned this unfortunate lesson the hard, old fashion way through blood, sweat and a whole lot of tears. If you are a new property manager or a home owner who chooses to rent your home, make sure you read these proved signs of potential bad renters because if not careful, they can make your professional life miserable and for the home owner, turn your cash producing investment into a horrible nightmare.

1) NO DEPOSIT MONEY: If from the beginning a renter has an excuse for why they are not prepared to have all the necessary funds to move into your unit or home, you might as well expect he or she will always have an excuse for why they cannot pay their rent at all or on time.

2) NO JOB OR REFERENCES: A renter should always have proof of a job which should be verified by pay stubs and or bank statements, as well as at least a minimum of three references, preferably one friend and two family members.

3) HAVE A COMPLAINT A WEEK BEFORE RENT IS DUE: Bad renters without fail, always complain in the first month of residency so as to not pay the full rent for the following month. If you have a renter who tries to pull this maneuver off, calmly offer to break the lease and kindly return their deposit, minus any incidentals, this will establish control and respect between the landlord and tenant. If there is a legitimate problem with your property, do repair this issue immediately.

4) FAMILY OR FRIEND: This may not always be a bad business decision but more often than not when you go into a residential lease contract with family or friend; it is almost a guarantee that business negotiations will go sour.

5) TRY TO BECOME FRIENDLY OR ACQUAINTED: If you come across a renter that tries to become very friendly or familiar with you, I always found that to be a ploy for manipulation in the future. A property manager or landlord should always maintain a professional relationship with their renters.

6) PAY RENT WITH A OUT OF STATE CHECK: Always try to avoid personal checks if you

• 1
• 2
• next page >>

Add your voice

Know something about Property managers: Top 10 warning signs of potential bad renters?
We want to hear your view. Write now!