For successful property management you will require screening, invoicing, surveys, notices or delinquent-rent collection for residential or commercial tenants.

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"My unemployment check was lost in the
mail, the government stopped my welfare,
and my ex-husband is behind in his
alimony. I am sorry I can't pay the
rent, but you can see I am working
as hard as I can."

Red Flags

There are an endless amount of red flags that may signal a potential problem tenant. You or your manager must be looking for them and be prepared to react to them in appropriate manner. Remember be alert, be skeptical, and cross check information. A few red flags:

  1. Refusal of a prospective tenant to completely fill out the application.
  2. Refusal of a prospective tenant to provide necessary documentary proof of information on the application.
  3. Inconsistencies on the application itself or between the application and something the prospective tenant has said.
  4. Information that, upon verification, appears to be false or inconsistent.
  5. A prospective tenant that appears nervous or in a rush to move in. He tries to dissuade you from verifying the application and basically encourages you to trust him.
  6. An applicant without a bank account may indicate a lack of stability.
  7. An applicant indicating he is self employed but provides no documentation substantiating a legitimate business (i.e. business license, bank account, business address, etc.)

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