To help establish a harmonious living environment, a property owner should conduct a thorough screening of all prospective tenants. A background check can bring to light any potential concerns to determine if the tenants will be a good fit. To foster a smooth screening process, here are three red flags to look out for in potential tenants.
3 Tenant Red Flags to Watch Out For
1. Questionable Rental History
One of the best ways to determine whether a prospective tenant will be financially responsible is by taking a look at their rental history. A history of evictions, for example, is generally a red flag, as it can often point to the failure to pay rent. A property owner should also pay attention to how potential tenants discuss their past rental experiences. A lot of negative discussions will likely not bode well for the future, particularly if you can’t verify their claims after speaking with the previous landlords.
2. An Unusual Sense of Urgency
While it’s natural for new tenants to be excited about finding a place, an unusual sense of urgency or additional pressure to move can be a red flag. Speak to their current landlord to get a better read on the situation. Sometimes, it can be as simple as needing more space for a growing family or relocating for a job, but it can also be an attempt to jump ship in the case of an eviction or another sticky situation.
3. Conflicting Background Information
As a property owner, it’s important that you can trust your tenants and the information they provide. If you start to notice conflicting information or items that aren’t adding up, don’t ignore your instincts. The information prospective tenants provide on their applications should be the same as what they verbalize and vice versa. To avoid any potential pitfalls, verify their income through a W2 form and Employment Verification Request as well as speak with any former landlords.
As a property owner, one of the best ways to protect your rental and find the best tenants is by working with a reputable property management company. For 40 years, Classic Maui Properties in Pukalani has been building a reputation as the most-trusted property management company on the island. Serving the majority of Maui, they offer both commercial and residential property management as well as appraisals, lending their extensive industry knowledge and local ties. To schedule a meeting, give them a call today at (808) 878-1001 or visit their website for more information.