Problematic tenants lead to a wide array of problems with your rental property. For one thing, they can make evictions necessary, which are expensive and frustrating processes. For another, they can leave your rental property vacant, which results in a substantial monetary loss. It is crucial to learn how to spot and handle red flag tenants in order to ensure good-quality tenants for your property.
Check Income and Employment
It is critical to ensure that you check the current income and employment status of applicants. A tenant that has insufficient income is far more likely to miss rental payments than a tenant that makes more money. Gaps in employment or the applicant being unemployed are both red flags that are important to pay attention to.
Their History
As many of us have been taught, history tends to repeat itself. It is important to look into the background of potential applicants. Ensure that you do both a credit and criminal background check. Poor credit scores or prior criminal convictions may serve as red flags. Prior evictions are huge red flags that the applicant could be problematic.
Application Considerations
Many red flags can be found on the required application. If the tenant has failed to complete the application, it is possible that they are consciously trying to hide information. Any refusal to offer pertinent information, such as their employment status or income, is likely an attempt to hide something. If you catch your applicant lying on their application, it is a huge red flag. It is crucial to ensure that you screen tenants and are able to find high-quality tenants to fill your rental property. At the Keyrenter in Sacramento, we are dedicated to providing the property management services that you need to maximize your profits and manage your rental property. Contact us today to learn more about red flag tenants!