Tenant History Tells You A Lot

Do you have a rental property? Are you frustrated with dealing with bad tenants? If yes, then you are probably not taking the right decision after reading the tenant history of the applicant. Here is what you can expect from a tenant based on the tenants history.

1. No one is perfect

First, do not begin with the notion that you will give entry only to those who have a perfect tenant history. Just like your own past, you can expect a blemish here and there which is quite natural. By insisting on a near perfect tenant history, you will lose out on some good tenants. It is better to define clearly what is acceptable to you and what is certainly not.

2. References are very helpful

You may decide against allowing entry to an individual based upon poor or little tenant history. If you are unsure, the best way to know more about the applicant is to ask for references. Talking to his previous landlords, you can come to know about many other details that will prove to be very helpful.

3. Look at their payment habits

There is good reason to believe that an applicant will create trouble for you when you find flaws in his rental payment history. Beware of the applicant if you find a series of missing payments or non-payments. However, there is no need to be rigid upon a few late payments as it can happen to even the best of tenants because of tight financial conditions. If he/she has been dragged to a court of law by a landlord, it is better to stay clear of such an applicant.

4. Complaints from other tenants

Reading the tenant history of an applicant, try to find if he/she has ever been involved in trouble with other tenants or not. If this is the case, you can be inviting trouble for yourself as he/she can be involved in a brawl with your other tenants.

5. Look at their credit report and verify income

Credit report is a good resource to learn about the financial habits of the applicant. An average credit score does not mean you should say no. By talking to the applicant, you can learn more about his/her employment and sources of income. It would be healthy for the resident, as a household, to make at least three times the amount of the rent. Request proof of income.

This makes it easier for you to make an informed decision on his/or her application. Perhaps scale it to a point system or our best advise, hire a professional to complete the tenant background and screening.