My Tenants Burned Down My House!

Its always on your mind, did I just rent out my home to disastrous tenants? Bad tenants are easily avoided just by taking the necessary steps to always ensure you avoid this. Here are the top 5 ways to get you your way. 1) Credit / history checks should always be on your list of…

Its always on your mind, did I just rent out my home to disastrous tenants?

Bad tenants are easily avoided just by taking the necessary steps to always ensure you avoid this. Here are the top 5 ways to get you your way.

1) Credit / history checks should always be on your list of acceptance. Take the necessary steps to get the credit history of your applicant. The most simple thing is what can throw a red flag. If someone wants to rent they should be more than happy to go through a credit check and all you have to do is make sure everything matches up because there are those out there that use stolen social numbers.

Also, check their bills, you should never accept anyone who shows that they owe on skipped utility bills. They will surly do the same with you. Applicants previous addresses always show up during a credit check so when you go to conduct your interview with the landlord the credit statements should match the landlords information. If not, then of course the applicant is lying.

2) Talk to their employers. Call them directly, do not use any number that they offer for you to call. Mainly because It could have been a friend or family member. once again this would throw up a red flag if they wish for you not to call their employers.

As a side note, You should hire anyone who does not have a means of income.

If you do however decide to use a number they provide, listen to how the employee talks to you. Employer will ALWAYS have a professional tone when talking to a landlord of his or her employee. They will almost always ask for proof that YOU are who you say you are by way of fax most likely.

3) Be-wary of the green. applicants who are “eager” to move in with cash in hand should raise some eye brows. People like this usually may be in a rush because they do not want any bad reports on their credit history due from being evicted or them skipping out on a previous lease.

4) Do-signer. This is mainly for new applicants who are renting for the first time. Always do a complete and through credit history check on the initial applicant and the co-signer. The same rules above applies to the co-signer.

5) FICO credit scores. Never blatantly accept ANYONE off of these numbers. One thing to remember is that a FICO score is man made numbers and are notorious for being very inaccurate. Most do not provide correct information that you need to determine applicable “trustworthiness.”