The tenant screening process is important for a reason. When a tenant brings up red flags in the screening process, it is possible that they will cause substantial issues. Evictions are often one of the most expensive processes that landlords face. Learning how to spot red flag tenants can help you to minimize the likelihood of these issues occurring.
Incomplete Applications
You need to require tenants to fill out applications. This can help you to find red flags when they arise. If a tenant hasn’t completely filled the application, they either haven’t followed the directions or are purposely withholding information.
Low Credit and Eviction History
Though certain things can be explained, the credit report and eviction history of a prospective tenant tells you a great deal about their habits. Multiple evictions are a huge red flag that the tenant will likely be problematic. You also need to verify the income of applicants. If they can’t afford to rent your property, it is extremely likely that you won’t receive regular rent payments.
Objecting to Background Checks
Background checks are fairly standard for tenants looking to rent a property. When an applicant objects to a background check, it is likely that they have something to hide. This is a huge red flag that indicates a problematic tenant. If they aren’t hiding anything, they shouldn’t have any problem with you completing a background check.
Lack of References
References help you to get a sense of the character of the applicant. If they don’t provide you with references, you won’t have that resource. It is also important to ensure that you contact all the references. Efficient tenant screening helps you to minimize the likelihood of evictions, which can substantially improve the way your rental property operates. Watch out for these red flags to help weed out potentially problematic tenants. To learn more about common red flags, contact our experts at the Keyrenter in Silicon Valley today!