There are many responsibilities that fall under a landlord’s jurisdiction. The stress of these responsibilities, as well as their complexity, is compounded when faced with problematic tenants. Evictions are one of the worst parts about owning a rental property, so taking the steps to avoid them can be particularly beneficial. Screening your tenants is a vital aspect to help you to spot the red flags in the early stages before they lead to significant problems with your business.
Importance of Tenant Screening
Overlooking the tenant screening process is asking for disaster. There are many components to an effective tenant screening process. You need to have a thorough rental application, as well as require both background and credit checks. Interview your potential tenants to provide you with the opportunity to catch more potential red flags. Here at Keyrenter, we use a comprehensive tenant screening process to minimize the likelihood of problematic renters.
Red Flags to Look out For
Knowing the red flags to look out for can help you to spot problematic tenants. Long gaps in employment may be a red flag, though this depends on the situation. Ensure that you ask the tenant about these gaps, as there may be reasonable explanations for them. An insufficient income or low credit score should be considered red flags when screening for new tenants. Sketchy or suspicious behavior, attempting to negotiate rent, a desire to move in within the week, and trying to delay the first payment are all red flags to watch out for.
An effective screening process can help to ensure that your tenants are as high-quality as possible. In addition, when you obtain good tenants, you should put effort into retaining them. Strive to make the experience of good tenants as good as possible, so that they will want to stay in your property. To learn more about spotting red flags when screening tenants, contact us at the Keyrenter in Salt Lake today!