The answer to each of these questions requires the same amount of effort and organization on the part of the landlord.
If you’re going to prevent something from happening, you need to take preventative measures. So, let’s deal with the first one…How do I prevent Bad Tenants from Renting my Properties?
Every prospective tenant should meet your criteria for renting.
- Must complete a rent application in ENTIRETY that includes an email.
- Steady employment and proof of income. Tax return OR pay stub
- Wage should be 3x income vs amount of rent. Reasonable criteria.
- Good landlord references –current and/or previous
- I’ve been living with my parents for the last 5 years.
Decision to rent might end here.
- Correct spelling of name (bad tenants will misspell name on purpose) An SSN/SIN will help the credit bureaus find a record even if name is misspelled. Where requesting a consumer report, always include ssn/sin.
- Current and/or previous address
Preventing Bad Tenants from applying for my properties is all in the way you present yourself.
And it starts with the AD. Include:
- We background screen
- We report rent payments to credit bureaus
The telephone Interview.
- How did you hear about us?
- You read in the AD that we thoroughly screen prospective tenants and we report rent payments to credit bureaus? If your rent payments are on time you benefit by establishing a good tenant history and improved credit history, if not on time, it’s a negative report which could impact your ability to rent in the future. Just want to make you aware of that.
Q. If I’m late just a couple of days then you will report me late?
A. Is there a good reason why you might be late? The lease agreement needs to be abided by.
Have you ever been late with rent and why? If you get push-back, or if the applicant becomes argumentative, then decision to rent becomes quite easy. Do you want this from your tenant? This may be the end of your interview. If not continue.
- Are you moving closer to work? Why moving further away?
- How long have you worked there for?
- We will be requiring proof of income such as a pay stub or your tax return.
This is not the B all or the End all to preventing the tenant from hell applying to rent your property. These are recommendations and a solid base for which you can build on. Don’t be afraid to add more but reasonable criteria. You don’t want to eliminate potential good renters; you only want to keep the bad guys out. By doing what is recommended above, will mitigate your chances of renting to a bad tenant or preventing a bad renter from renting your properties.
Report rent payments to a credit bureau!
Never rent to the tenant from hell using this criterion! Then you don’t have to evict the tenant from hell.