Property Managers "It's All About Reading Between the Lines".
Keeping an eye open to tenant warning signals makes a good landlord, property manager or rental real estate agent worth their weight in gold.
You can tell a lot about a new tenant on how they dress, the condition of their car and how they present themselves. But you cannot refuse a tenant on these grounds, you need to go the rental application and verify the information, get a credit report, check finances and references.
That being said there are certain warning signals that landlords, property managers and rental real estate agents can look out for.
Rental Application needs to be Filled Out Completely. ~ missing information be it no rental history, credit history, references or anything else is a red flag that must be addressed at once. Some of the most important items that you will want are:
- Rental History
- Criminal History
- Credit History
- Employment History
- Finance History
And then VERIFIYING these facts!!!!
Questionable References ~ Always check landlord reference, make sure they are landlords and not just friends, a good practice is to ask for a copy of their existing lease . This rule applies to all fact checking such as employment, credit and finance.
State all tenants on Application ~ if your rental application does not have this then throw it away. You want to know everyone who is living there before they move in and put their names on the lease.
Wanting to move in immediately ~ A big warning signal….most reliable people do not need to move in right away. A rush to move in usually indicates that there was a problem in the past such as eviction, loss of job, poor credit to mention a few.
The sad story, please help me ~ Yes I have a big heart but being a landlord is running a business and even though you might have a big heart you still need to pay bills and make a profit at your business. At the very least….once again verify the story, check the facts.
David Popoff is a license Connecticut Real Estate Broker specializing in lower Fairfield County, Connecticut.
DMK Property Management llc a locally owned company serving lower Fairfield County, Connecticut.
Specializing in Residential Property Management that can custom tailor a program to fit the homeowners needs be it short term or long term from rental management to full estate management.