If you’re ready to rent out your investment property, choosing the right tenants is bound to make your life so much easier. Not only will the rent get paid on time, but you won’t have to worry about damage to your property or complaints from anyone in the area.
However, if someone has already moved in, it can be hard to determine whether you’ve made the right choice. Fortunately, there are a few telltale signs that might give you an early warning that trouble isn’t far away.
If your tenants are causing nearby residents grief, there’s every chance someone will complain eventually. While there are numerous reasons why friction might occur, such as too much noise at night or a dog that won’t stop barking, it’s important to not be too presumptive about who is at fault.
Frequent Moving History
One aspect of rental applications that many inexperienced homeowners overlook is how often someone has moved properties. Of course, there are plenty of legitimate reasons why your tenants might have to move regularly, including a new job or simply needing more space, but it might also point towards problems with the former landlords.
Unwilling to Provide References
If a busy rental history is definitely a potential red flag, unwillingness to provide references from former real estate agents or landlords is undoubtedly another. As this could mean the tenants have had significant conflict with past homeowners, getting to the bottom of this issue during the application phase is the best way to avoid a future problem.
Hard to Contact
Almost everyone lives a busy life between work and social commitments. But there’s a good reason for the alarm bells to start ringing in your head if it becomes virtually impossible to get in contact with your tenants. While you shouldn’t be contacting your renters without a proper excuse, getting the feeling that someone is dodging your calls is never a good sign.
No Maintenance Requests
You wouldn’t be blamed for feeling frustrated if you can’t get in contact with your tenants. But you should also be slightly concerned if they never feel the need to reach out. Although they might be taking great care of your property, a long-term lack of requests might mean they’d prefer you don’t come and visit.
Speak with the experts
Choosing the ideal tenants for your investment property is a challenging task. Fortunately, our highly experienced property managers ensure you never have to stress. Get in touch with InStyle Property Management to chat with an expert that makes renting your home a breeze.