Watch Out For These Potential Tenant Red Flags
Finding good tenants requires as much time and effort as finding a good home. It is important for a landlord, or property manager, to find tenants who will not only pay their rent on time but also use their property responsibly.
While screening tenants, landlords usually make sure they do a complete background check on their potential tenants and consider all the important aspects like credit, mortgage payments, previous landlords etc. And that is what most websites will tell you to look out for. What about all the small details that you might notice when you meet the tenant?
During our work as property managers in Boston, we have learned to watch out for many, seemingly, small but important details that usually hint at a potential problem tenant.
When showing your property to a potential tenant, if the tenant seems rushed or in a hurry to close the deal, this is your hint to observe more closely. Of course, the hurry could be because they have to go somewhere, but do take note of their behavior and words just to be on the safe side.
Do they take a quick look at the property and offer to rent immediately? “I can pay in cash right now and move in tomorrow.” They even offer to pay more than you asked for. Ask them out front why they are doing so. If they are unable to provide you with a reasonable answer (“I love this place” does not qualify as a reasonable answer, no matter how much it boosts your home-owner-ego).
This kind of behavior is usually a sign of a tenant who wants to woo you with a show of money to get you to amend the lease, or cut them some slack for something else. This will probably be the only money you will ever get from them.
We’ll Do the Maintenance So Lower the Rent
This kind of an arrangement is rarely fruitful. Sometimes, tenants will offer to handle all their maintenance themselves if you agree to lower the rent. However, before you fall for this, remember that their method of handling maintenance could mean hiring cheap workers to get things done or, even worse, doing it themselves. You do not want a tenant DIY-ing your bathroom drainage system. Absolutely not.
At BBA Management, we have learned to pick up on small details that prompt us to investigate further into a prospective tenant before we hand over a property to them. This attention to detail helps us ensure our client landlords never have any issues with problem tenants.
If you are looking for a property management company to help you manage your rental in Boston, give us a call at 617-734-6900, contact us at [email protected] or join us on Google plus and Linkedin.