Most landlords have at least one story of a tenant they signed against their better judgment only to have them turn into a fiasco. From unpaid rent to damaging the unit, spotting a potential nightmare tenant is imperative, and that means screening them as best as possible. Let’s explore a pair of do’s and don’ts.
First impressions only matter so much. When you meet someone, their demeanor and appearance may sway you to make initial assumptions about them. An otherwise fantastic tenant may seem guarded and difficult in person if you try and focus on details other than those related to the lease. While your gut can often help spot a bad tenant, stick to the essentials and reduce the risk of running afoul of Fair Housing laws.
Ask all of the necessary pertinent questions. You may want to be polite and not dissuade a potential tenant by asking too many questions. Remember that your job as a landlord is to obtain as much relevant info about them as possible along with essentials like credit, employment, and income verification. Provided you’re going about it respectfully, professionally, and sticking to Fair Housing laws, prying a bit means fewer odds of a nightmare tenant. You may even wish to get to know them a bit more as you’re showing the property.
This update is by Livo, a rental optimization platform aimed at providing you with a robust revenue enhancement tool. With Livo, you can maximize rental yields, accept and manage multiple offers and offers, and enjoy better retention. Livo targets rentals with the greatest odds of receiving a multitude of offers, and those with the best locations, features, configurations, and more. Please call 833.333.5486 today to learn more.
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