How do I avoid bad tenants?
The best way to avoid bad tenants is to do a thorough credit and background screening on ALL tenants that will be renting your place. By screening your potential tenants through Rentler you'll find out:
- Any history of eviction.
Tenants with a history of eviction can be bad news for landlords. Seeing a tenant's history can give you a date of the incident and a record of how it was resolved.
- Criminal offenses.
Seeing a complete background check will give you insight to any prior offenses that you may want to discuss with future tenants.
- Their income.
Once you have verified a potential tenant's income, you can see if it follows the 30 percent rule that many landlords follow when deciding if a tenant will be able to pay rent each month.
- Unpaid debts.
If a tenant has declared bankruptcy, it will show up on a credit report. Bankruptcy can be a sign that a tenant is not ready to handle monthly rent payments, so be wary when it shows up on screenings.
- Address verification.
Double-check to see if their past residences match up to what appears on their application. If the info in incorrect, that may be a sign that they are hiding something.
Your rental is an investment, so taking small steps to protect it now can pay off big time in the future.