"But they seemed like such nice people." Famous last words, as you survey the damage done by a bad tenant who never paid any rent.
Bad tenants are professionals at appearing
to be wonderful people.
They know the right things to say.
They make you feel sorry for them.
They destroy your property.
But if you listen to them, if you fall for their line of bull, you will be the one to pay.
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This manual is worth as much as your property. Pretty strong statement, huh? But it’s true. One bad tenant can destroy your property, your investment, your financial wellbeing. The information in Profitable Tenant Selection shows you how to keep them out.
Bad tenants give themselves away. They are clever and practiced at getting landlords to rent to let them move in. The tricks they use are not particularly imaginative, but they work, or these bad apples would not get to move into rental properties over and over again.
The trick you use is to not play their game. If you play their game you lose. You play your game, by your rules. Their rules are designed to let them beat you. Your rules are designed to ensure that you rent to only qualified applicants.
Renting property should not be a game; it should be a business arrangement between two parties. Your customer, the tenant, wants a nice home. You want a good customer. Two parties make a deal to do business honorably and ethically.
That’s where the bad tenants get left out. They don’t deal honorably or ethically. They are liars and thieves. They lie about where they live now, where they work, who their landlords were, how much money they earn, about never having been evicted. You name it, they have lied about it. They steal from landlords. They steal the property by not paying rent and doing damage. They steal from neighbors and anybody else who they can make a victim of. They think the world owes them something.
You don't have to know all their tricks, just how to find out the truth about their past. How you do that is revealed in the manual Profitable Tenant Selection.
But there’s more to it than just ferreting out bad tenants. In Profitable Tenant Selection you learn how to find the tenant who best fits your property. You know that the tenant who rents a 3,500 square foot home, with a pool, a spa, on three acres with a 360 degree view is going to be a lot different from the one who rents a $350 a month studio apartment. Profitable Tenant Selection show you how to create the rental standards for whatever property you are offering to rent.
Plus, you get complete information on where to obtain and how to read credit reports.
You get a list of where Social Security Numbers come from. Did you know that each state has its own code? That is another way you can trick a tenant into telling you where he really came from.
You’ll learn the Driver’s License trick. Did you know that the Motor Vehicle Department of each state provides clues on a driver’s license that can trap a tenant? They do.
You’ll learn five of the most common tricks that tenants use when they try to fool landlords into renting from them. They aren’t very imaginative, but you’ll learn how to spot them and cut them off at the ankles.
Finally, there is a self-diagnosing chart at the end so you can see how you stack up against how the best landlords and property managers choose tenants.
You'll find yourself referring to this manual over and over again, every time you have a vacancy. Follow the instructions in Profitable Tenant Selection step-by-step and you will just about eliminate bad tenants in your rental properties.
Professional property managers, have kept these procedures secret for a long time. But now they are revealed here, in Profitable Tenant Selection. The good property managers, the ones who take their profession seriously, rarely end up with a bad tenant in any property they manage. Why? Because they follow these same procedures to catch bad tenants before they ever get a chance to move in.
All that information makes this manual as valuable as your property. And it costs less than going out to dinner.
A rule of thumb is that if you aren't sure about a tenant, you don't have enough information. Call them for more. If they are hesitant to give it to you, you should be more than hesitant to rent to them.
The following steps will go a long way toward keeping bad tenants not only out of your property, but even from trying to rent from you. Bad tenants are like burglars, they will tackle the easiest mark. So make it difficult for them, let them know the steps you will be going through to check them out.
Have the prospective tenant fill out a rental application. Make sure that all the spaces are filled in, especially names, addresses and phone numbers.
Sometimes prospective tenants don't give you complete information, even though there is something in the blank. For example, I once had a tenant just write numbers in the blanks asking length of time at previous residences. It turned out that the threes and fours meant months, not years. Don't be afraid to ask for clarification of any information they have given you.
Sometimes who you are talking to is not who you are talking to. Professional bad tenants have other people rent for them. Check applicants' drivers' licenses. Make sure that the pictures on the driver's licenses are the same as the people you are talking to. Make sure the address is the same as the one they just gave you; if not, why not?
Personally meet every adult who will be living in the rental. Under no circumstances let one person take the papers for another to sign.
If the prospective tenant has worked on his present job or lived at his present address less than two years, get previous jobs and/or addresses, including bosses and landlords. If the prospective tenant has had several jobs in the past few years, that can be a sign of trouble, though not necessarily so. Once again, ask questions. They might have a perfectly acceptable explanation as to why they worked so many different places. Watch out if they say something to the effect that they had bad bosses in all those places. Chances are if they told you that they had bad bosses they either have trouble getting along with people, or have a problem, such as drugs or alcohol, which keeps getting them fired. Either way, they will be bad tenants.
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