Investors pay a lot of attention to getting the perfect property, which will provide them with good capital interest in the long term. A property in a desirable location, which potential tenants will find attractive, is one of the things that investors look out for. However, it is equally important to pay attention to getting a good tenant. A good tenant will treat your house with respect, like it’s their own, and will abide by signed lease agreements. A bad tenant, on the other hand, will abuse and damage your property, and may even fail to pay the rent on time. This can then have a negative effect on your ability to pay your mortgage.
There are signs that can indicate a potential tenant may be problematic, here are some of them to look out for:
The Individual Doesn’t Like the Property
If the individual is going around the property pointing out one flaw after the other, this can be indicative of a tenant who will have a fussy and negative attitude. While you might be tempted to accept anyone who is willing to pay for your apartment in times of high vacancy, you don’t want to rush and end up with a bad tenant. No landlord wants to have a tenant who finds fault in every little thing.
However, you have to make sure that there are no real flaws in the property. Tenants have the right to live in a comfortable property, and making sure your it is in good shape is what makes a good landlord. Ensuring your property is in tip-top condition will help you easily identify a tenant who could be a problem. Always remember that it takes a good landlord to get good tenants.
The Individual Is Hesitant About a Credit Check
If the potential tenant is hesitant about letting you run a credit check, it is indicative that they have something to hide. Perhaps they don’t want you to discover that they are in debt, have a poor credit score, or have previously declared bankruptcy. You also cannot legally run a credit check without an applicant’s permission (preferably in writing). You can cross the individual’s name off your list if they refuse to let you run a credit check, or you can let them know that if they refuse to give you their permission to run a credit check, you will take them off the applicants’ list.
The Individual Lied on the Application
This is why it is important to run a tenant screening. If the tenant lied on their application about something like their place of employment, this should raise alarm bells. This shows they cannot be trusted. However, be careful to identify simple mistakes that were not intended as lies. Example, a potential tenant could write down the wrong house number, but write the correct street and town name. This could well be seen as an honest mistake, as no one is above simple mistakes.
The Individual Has an Eviction History
If you discover a potential tenant has a history of eviction, you want to be wary about renting out your property to them. While evictions can happen for quite a number of reasons, the most common reason is failure to make rent. You don’t want a tenant who will be a problem when it is time to pay the rent.
The Individual Lacks Good Manners
Mutual respect is important in fostering a good landlord-tenant relationship. If a tenant shows any forms of behavior like those listed below, you need to be careful:
- Spends more time looking at their phone instead of looking at you when asking questions about the property during a tour.
- Does not return emails and calls on time.
- Makes unnecessary excuses about why they failed to completely fill the application.
- Talks in a tone that seems aggressive or bossy.
Paying attention to an individual’s behavior during the application process will help you know if they are someone you will have a good landlord-tenant relationship with.
Conclusion
Having a good tenant will give you peace of mind in the long run, so make your decision wisely.
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