Happy New Year 
As we start a new year we will review the beginning of the rental management process and identify a few red flags we see from potential applicants. The tenant selection process is the beginning of, and probably the most important part of the process in rental property management. 

There are many aspects of the tenant selection process, and it is important to pay attention to what we call “red flags” and they are often hard to see. The process starts with the initial contact from a tenant who inquires about your property. 

The first step is to pre-screen the inquiry to ensure they are a possible fit for your property. At this point you’re inquiring if th are a potential fit for the property. Asking how many people would live there is a good question. If you have a two bedroom and they want eight people to live there you have the right to say no to that situation. A person does not have a right to rent your property simply because they have contacted you or applied for the property. 

Make notes of what they tell you about themselves. If possible, inquire what they do for work and if they have pets.  During the viewing ask the same questions again in a different format. If they provide a different answer than during the pre screening this is a red flag, which indicates they may not be forthcoming with the facts about the situation.  

When multiple people are planning on living together it is best if they all attend the viewing, as this gives you the opportunity to meet each party. When one party is unable to attend it is acceptable to inquire why they are unavailable. A party not attending could be a red flag that the individual will not actually reside at the property.  

When communicating with potential applicants how they respond can give insight to the person they are. Schedule an appointment for the viewing. Give them specific instructions for confirming the appointment by communicating with you before the viewing time. Failing to confirm the appointment shows disrespect for your time and is a red flag to how they respect others. If they lack respect for others they may lack respect for your property.  

When asking questions, listen carefully for the reply, are they trying to give a response you want to hear or is it natural answering the questions. People who are telling the truth are more natural in their replies. While people trying to hide something often brush off the answer, avoid the subject and try to change the direction of the conversation. This is a red flag if you are trying to ascertain a specific answer and having difficulty obtaining a response to a simple question. This is why we don’t like open houses for rental properties, we ask questions during the viewing process, which is more difficult with multiple parties in the property. 

How long do they look at the property?. If a person or people attend a viewing and are in and out in five minutes without asking very many questions, this is a red flag they may not be looking for themselves.  A person looking to live at a property will take the time to look at all parts of the property, ask questions of something that catches their eye that is of concern to them. 

People looking to move in fast are also a red flag. When a party is looking and says they can move in now why are they available? There may be legitimate reasons and it could be they have had a hard time finding another place, due to who they are.   

These are a few of the red flags we watch out for when renting properties. 

Renting your property can be confusing. Cartref Properties can assist you, call today to discuss your needs or find more information about us at: www.cartrefproperties.com