It’s OK to negotiate with potential tenants, especially if they’ve made a good impression on you and their application is in order. But too often landlords find themselves compromising their goals or going outside their comfort zones to appease people who haven’t even technically signed a lease yet.
That’s why it’s crucial that the landlord or property manager stays in control of the situation, from the initial walk-throughs to the lease signing and beyond.
- Don’t accept someone’s copy of their credit report. Run your own. In fact, do an instant tenant report to see right away whether someone is worthy of being your tenant.
- Don’t trust the fact that the person “seems nice.” Do a background check to rule out any criminals or sex offenders.
- Don’t blindly accept someone’s request for a favor regarding when to give you the security deposit or first month’s rent. If they’re already having trouble coming up with money owed to you, it’s a good sign they’ll have trouble every month.
- Don’t allow a prospective tenant to dicker with you over the rent price. Do your market research before deciding on what to charge for rent. That way when they complain that nobody in the area is asking that much, you’ll know whether they’re lying.
- Don’t overlook a red flag, such as a pet being moved into the rental unit when the tenant said there were no pets. A tenant who lies is a problem tenant, and you’re probably in for a lot of headaches.
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