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Quality tenant screening is crucial to continued success for a Los Angeles Property Management company. Bad tenants can end up costing rental property owner lots and lots of money. TGN Property Management helps many rental property owners to manage and even, unfortunately in some cases, get rid of troublesome tenants after the rental property owners could not resolve the issue. The process could be long and costly for the rental property owner(s). Because of this, a Los Angeles Property Management company needs to have the proper tenant screening of potential tenants and it is imperative to the success any Los Angeles Property Management company.

A credit check is a must, an extensive criminal background check is definitely recommended, and rent payment and eviction history check on a potential tenant. A simple process that can protect a Property Management company from consistent non-paying and/or late-paying tenants and also tenant scams. Be very wary of any negative items on prospective tenant screening report and evaluate with caution.

Suspicious Behavior During The Interview

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Not all red flags can surface on an application. It’s very important to meet with a potential tenant in person. If for any reason this isn’t possible due to the potential tenant living far away, a phone interview is the next move.

If a person reschedules repeatedly or arrives significantly late to scheduled appointments, or even not follow through with other required procedures. If asked about his/her work or rental history, the person tries everything possible to avoid a tenant screening report by supplying their own credit report.  All of these are red flags.

Trying To Move In Quickly

It depends on their situation, but a quick move can be a serious red flag. This could mean a lost job, unexpected move, or eviction from their previous property. If the potential tenant can provide a reasonable explanation for wanting to move in quickly (e.g., relocation), a red flag would be something to consider.

An ideal tenant is going to be the one who pays on time and stays long term. People who show a history of moving again and again (more than a few times every couple of years) this should be evaluated very carefully.

In some cases it is difficult to get an accurate rental history from a potential tenant. Fortunately with a proper tenant screen report, this could help to provide you with national rental payment data as part of the screening report.

Bad And/Or Missing Rental References

A bad landlord reference is an obvious red flag, keeping in mind that few landlords are going to give a neutral and even a positive reference just to get a bad tenant out.

Always be sure to call references to unquestionably inquire about the potential tenant.

Not Willing To Offer Information

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A good tenant will have nothing to hide. An incomplete or unclear answer on the application during the interview could indicate that they are definitely trying to hide something.

Very few tenants are reluctant to share their social security number. Although, this hesitation is understandable to a point, getting a potential tenant’s SSN and copy of driver license is part of running a proper credit check and background check. For this reason alone, take into consideration that this could result in a huge red flag if they don’t want to hand it over.

Delaying The Security Deposit Or First Month’s Rent

Only payment that a Los Angeles Property Management company should ever take is a cashier’s check or money order for initial security deposit and first rent payment. If there is hesitation about making their initial payment, this could also signal a troubled financial situation. Promising to pay after they move in, or asking you to “hold their spot” without accepting payment is by far the most incorrect way to properly handle a Los Angeles Property Management company.

 

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Posted by: emoss on May 30, 2016
Posted in: Uncategorized