Property Management Training

During a walk through, you might think that a certain tenant will be perfect and won’t ever cause you any problems. However, you might realize later on that the tenant was probably the worst person you could have picked. You must screen each prospective tenant before they sign a lease, either by doing it yourself or by hiring a property management company to complete the work for you. Either way, there are a few ways to identify a bad potential tenant. 

The first thing you want to do with a prospective tenant is have them fill out a rental application. Be sure this application includes current and previous employers. If the tenant never had stable jobs, then you can suspect that they will not be able to pay rent on time. You will want to look at their income level to determine if they even make enough to cover both rent and living expenses. Lastly, the application should include contact information from previous landlords so that you can see how they acted at their previous residence.

If the application checks out, you will then want to run a credit and background check. The credit history will show you details as far back as 10 years. You want to watch out for any issues, such as a history of late payments, bankruptcy, hefty loans, unpaid balances, and maxed out credit cards. When you are looking through the background check, any red flags would include evictions, lengthy or serious criminal records, and any public records with legal financial battles.

At Occupancy Solutions, we can train you and your staff in any area you may need help with. If you need property management consulting for screening your tenants and ensuring they are keeping up with rent, then contact us today to learn more about our property management solutions!