How to Safeguard Your Property Against Tenants From Hell

[Ron Nir]

Utilize a tenant application. You can’t begin to determine a prospective tenant’s fitness to rent without asking the right questions. Asking for personally identifying information is key, but you’ll also want to request references, previous landlords, and proof of income. In addition, ask about important factors like pets, children, smoking, and criminal history.

● Screen your tenants.   Once you receive an application, run credit checks, background checks, research the information provided on the application, and take the time to contact each and every one of their references and previous landlords; it’s the best way to learn all you can about how they treat a property, directly from the source.

● Build high expectations. You’ll want to require a verifiable income of at least three times the monthly rent to ensure your tenants can continue to pay rent. If you want to avoid pets, smokers, or other factors, say so and stick to your decision.

● Hire a property manager. A property manager will act as an essential link between you and your property. Your property manager will collect rent, ensure maintenance, give attention to problems as soon as they crop up, and enforce the details of the rental agreement.

● Procure landlord insurance and rent guarantee. As you’ve discovered, even when tenants seem like decent people, you can still end up with tenants from hell. Landlord insurance can cover the building, contents, accidental damage, and even cover the rent if your tenants stop paying. 

Avoid paying dearly for damage and missing rent caused by the tenants from hell by following the steps above.