Property Managers spot Potential Red Flags in Perspective Tenants
Experienced property managers like Martin Feinberg understand the importance of properly screening all rental applicants. A bad tenant can result in a loss of income through late or unpaid rent, property damages, or even an expensive eviction. Utilizing good screening techniques can help property managers and rental property owners spot red flags in perspective tenants before the lease is signed.
Some red flags are obvious while others are trickier to spot, but none should be ignored. Read below for tenant behavior or qualities that property managers should pay attention to when selecting the perfect tenant for their rental property.
Obvious Red Flags
Most professional property managers will steer clear of renting to tenants with bad credit, a history of evictions, or negative criminal records that show a lack of respect for property or safety. Tenants will not usually volunteer that kind of information however, which is why it’s important for landlords to access screening reports. These are typically paid for with the rental application fee and are vital in finding potential red flags for perspective renters.
Subtle Red Flags
There are other subtler red flags that property managers should be wary of during the application process that won’t necessarily show up in typical screening records though. Does the tenant follow the directions in the property ad or those provided by the landlord in a phone call? Do they listen well and pay attention to detail? Are they professional and courteous in person? Do they complain about the application process, make a lot of mistakes, or leave blank spots on the application itself? Are they hesitant to provide all relevant information, such as social security numbers or references? All such behavior can be a red flag that a tenant might be more trouble than they are worth.
That doesn’t mean though that a property manager can deny a perspective tenant for whatever reasons they want. Watching for red flags is important, but staying compliant with the law is even more so. Property managers and rental property owners must be able to provide valid reasons for denying a rental applicant if asked. They must also always follow the regulations outlined by the Fair Housing Act.