Real estate can sometimes be tricky to navigate, especially if you are a landlord. This can be a great source of passive income, but different people with various backgrounds bring diverse outcomes. Sometimes, someone who seemed like a perfect tenant can turn out to be your worst nightmare. However, some telltale signs can give up bad intentions from the very beginning. Here are some of the biggest red flags to look for when choosing a tenant.
Showing up late to the showing
Not being on time for a showing isn’t always grounds for an outright denial of an application. Sometimes it is a red flag. Individuals are often late due to unforeseen circumstances (such as heavy traffic) beyond their control. Inquire more if you’re curious. Did they give you any advance warning? Excellent renters respect their landlords’ time and property from the get-go by communicating any possible difficulties in advance.
Complicated to work with at the very beginning
Is it difficult to arrange a viewing with potential tenants? It’s possible that there’s a valid excuse for their difficulty, like a packed schedule. It may also reflect a lack of care or disinterest. Because of this, it may be difficult to arrange with these potential renters to collect rent or reach them for maintenance calls. It’s imperative to know from day one whether you actually can work on your relationship with your tenant or if there will be trouble from the moment they move in.
They hope to get things done in less than a week
Tenant candidates that require a spot immediately may not be the best fit for your available rental. Instead, it may be a warning sign. Why do they have to find housing so quickly? Have they recently received a notice to either resign or be cured? Did they finally accept that they could not keep up with the rent and would have to vacate the premises? Will they be squatters and provide no advance warning to their present landlord? Tenants who say they can move out in less than a week may have good reason to do so, so it’s important to do your homework.
They have broken the law before
When choosing a tenant, you shouldn’t overlook the fact that they might have a criminal history. According to these property managers in Baltimore City, landlords may use this data as part of their candidate screening process since it is accessible in the public domain. And some mistakes don’t have to influence the person’s whole life, that’s true. However, the nature of the offense must be considered before concluding that they have served their sentence. Watch out for:
- domestic violence
- theft and other crimes against property
- different forms of homicide and other violent crimes
If your potential tenant has any from the list – it’s better to find someone else. It’s better not to risk your property or yourself in such cases.
Sheltered by family or a motel
Indicators of trouble include staying with friends or family or at a hotel. Is it possible they needed a place to stay right away because they were trying to heal themselves or stop using drugs? As you can expect, this is a frequent sentiment expressed by those who are being evicted. They are attempting to save costs by moving in with relatives. They make plans to leave in a few months. However, there are always exceptions to the rule, and in most instances, reliable renters do not live with friends or family but in their own independent dwellings.
Tenant-landlord conflicts in the past
Every good residential property manager will tell you that the issues with prior landlords should serve as a significant tenant red flag. Talk to the prior landlord and find out whether the renters paid on time, caused any problems, etc. Doing so before the viewing will allow you to ask questions and hear the renters’ side of any problems. Tenant screening questions during a showing should also focus on the potential tenant’s rental history, any difficulties they may have had with prior landlords, and the tenant’s expectations from a landlord.
Paystub requests may initially sound intrusive, but you’ll appreciate doing them when rent time comes. The reason why landlords want evidence of income is apparent: no one should rent to someone who can’t pay the rent. There’s no mistaking that this is an invitation to be kicked out. Tenants should have sufficient funds to pay each the rent, not only the first. A good rule of thumb is to seek a tenant whose salary iswork on your relationship
The tenant’s credit record is the most reliable indicator of whether or not rent will be paid on time. Having a low credit score might make it impossible to get financing. According to professional movers, when you look for certain qualities in tenants, looking for those with good credit scores should be at the top of your list.
Consider these red flags to look for when choosing a tenant carefully
As you can see, you should carefully evaluate these red flags when choosing a tenant. Keep in that the presence of even a few of them is not sufficient evidence that the person is a terrible renter. But, if you dismiss them and do not think about them, you can deal with a problematic tenant later. In order to assess whether or not this is a red flag problem, it is vital to seek clarification. But if the renter raises red flags for no good reason, it could be best to exclude them from consideration. Asking more detailed inquiries increases the likelihood of finding tenants who will be a good match for your home.