As a Landlord, you have to believe
that there is some ounce of truth in stereotypes. A young
unemployed tenant will most likely be more problematic than a
middle-aged working professional. You may decide to give
someone the benefit of the doubt, but you are increasing your
chances of problems down the road.
Always ask for references of previous
Landlords, as well as current/previous employers. And don't
just relax contently once you have the references. Phone them
and ask questions. Here is a list of
Check Questions. Make sure the references are
legitimate. Professionals may use family and friends to pose as
employers or previous Landlords.
Be wary of cash payers. If you
meet Tenants that offer to pay rent upfront for a large period of
time such as 6 months, you should be wary. The two most common
reasons are: the Tenant doesn’t want to be disturbed and wants the
Landlord to stay away from the property because something illegal is
happening on the property; and/or the Tenants have terrible rental
history so the offering of large some of cash is a diversion.
While it's not unheard of for Tenants to pay cash upfront, just be
Employment records. Ask the Tenant to
bring along a very recent paystub or a letter from their employer to
confirm their employment.
Don’t accept the first Tenant that
comes along. It’s true that the longer a property remains vacant,
the more expensive it becomes for you as the Landlord. While it may
seem like a financially safe solution to accept the first Tenant
that comes along, it can often have the opposite affect. The fact
is, finding a bad Tenant quickly will cost you more than finding a
good tenant slowly.