Hi, this is Tanya with Envy Property Management. In the world of rental homes, there is a term housing providers have coined “Professional Tenant” This title will make even the most seasoned of Housing Provider’s shutter. A professional tenant is someone who understands the legal loopholes and technicalities in order to game the system to their advantage. These individuals are notorious for withholding rent, dragging on an eviction, and they know how to cheat the system using loopholes. Professional tenants oftentimes leave landlords with lost rental income, a damaged property, and a laundry list of headaches.
Ways Professional Tenants Hurt Housing Providers
Professional tenants are well known for their cunning ability to cheat the system. These tenants are able to get away with incidents of damage, late rent, partial payments, and know exactly what to say to leave the landlord feeling bad for them and their “unfortunate” circumstances. You have to remember, everyone has a story, and professional tenants will have one for every occasion, especially when it’s time to pay rent. The landlord-tenant relationship must remain professional at all times. While their story may tug at your heartstrings, landlords must draw a hard line and never ever tolerate late rent payments.
Know How to Spot a Professional Tenant
Knowing how to spot a professional tenant is your first line of defense. Professional tenants are just as good at hiding their identity as they are at evading rent, and thus spotting a professional tenant can be challenging. There are some warning signs however that can help you avoid renting to these people. Be on the lookout for tenants with an eviction history, run-ins with the law, or troubles with previous landlords. In addition, a major red flag is that professional tenants will ask if the property is “professionally managed” during the initial inquiries as a way to find inexperienced landlords to take advantage of.
Professional tenants may also have extensive knowledge of landlord-tenant law and/or a background in real estate, contracting, or the law. They’ll sometimes have gaps in their recent rental history with no reasonable explanation. Or, they may also give fake or non-existent landlord references.
How to Avoid a Professional Tenant
The first place to spot a professional tenant is during your screening process. Conversations such as over-explaining that they fell on hard times, lost their job, went through a divorce, or lost someone close to them are major red flags. Or, they may give you a sob story as to why their credit could possibly not meet your expectations.
Professional tenants will appeal to your sense of humanity, tug on your heartstrings, and tell their story in a manner that makes you want to help them get back on their feet again. Don’t fall prey to these common tactics, unless you want to hear the same story every month at the exact same time rent is due.
Never, ever cut corners when screening your potential tenants. You may never see these red flags during the screening process if you chose the first application that came in instead of taking your time and doing your due diligence. Credit reports and criminal background checks are only the beginning. Be sure you’re also checking eviction history, income verification, prior landlord references, and much much more.
At Envy Property Management, we have a 20-point tenant screening process. We are dedicated to quality tenant placement and leasing of all of our rental properties. By having strict policies and procedures in place on placing new residents you too can place quality tenants, reduce the need for costly evictions, and make the most money as possible on your investment property.
Professional tenants should be avoided at all costs and knowing the signs of these scammers is imperative. However, when it comes to protection methods against professional tenants, few options offer more security than professional property management. At Envy Property Management, we have seen it all. Our comprehensive screening process helps ensure your property is kept free of professional tenants.
If you’re looking for solutions for your investment property, give Envy Property Management a call today, 801-337-4337. Or visit our website at envypm.com where you can easily view our 3-tiered pricing plan so you can pick a package that best fits you and your needs.