Every real estate investor knows that a rental property that sits vacant is a bad investment. But do you know what is an even worse investment? A property rented to a bad tenant. A tenant who skips rent or trashes your property can cost you plenty, so making sure you vet prospective tenants carefully, is key to maintaining a healthy portfolio along with your sanity.
Asking prospective tenants to fill out a rental application, checking their background and credit check, and calling past landlords, places of employment and other references, is a great start. But what about tenants who lie or omit the truth in their applications?
Some tenants may look great on paper, however, they may have lied or stretched the truth to appear to be a more appealing candidate. Some of the things potential tenants tend to like about, and that you should take a closer look into are: