For commercial and property investors, having the right tenants for your rental property can be very enriching and productive.

However, vetting and screening for potential tenants can be quite a challenge especially if a landlord or property manager does not know how to do it.

Failure to properly screen tenants can be a serious mistake and cause more problems along the way, instead of maintaining a good landlord-tenant relationship. 

Common issues that affect property owners are tenants disregarding rules by having undeclared pets, history of property damage, delinquent payors, or being involved in illicit activities can be very damaging to your rental business and investment asset.

Here are key questions that should be asked during the interview process;

What is your reason for moving and when are you planning to move?

This is a straightforward question that could signal red flags when they fail to provide a good reason or answer for moving or when they are planning to get settled in the new property. 

As a standard practice, property owners or managers require no less than a month’s notice should a tenant wish to transfer or move, which indicates those in a hurry to move may be having issues with their current landlord.

Asking for the reason to move is determining if there were issues such as an eviction notice or conflict with neighbours in the area, just to name a few.

How long have you been staying in your current residence?

This helps determine if the tenant is a reliable or a questionable one. Take note that no one will readily admit to being the source or cause of a problem or spat with anyone in their current residence, so check for warning signs that could tell you whether the tenant is a good one or otherwise.

What is your current employment status and how much is your income? 

Anyone with a stable and good-paying job can show their level of responsibility, both socially and financially. Keeping such information from you is a risk that they could keep something from you, especially things they know you do not want to hear or know about, such as damage they caused to your property, etc.

A good way to evaluate their capacity to pay is if they earn no less than 2.5 times the monthly rental rate which means they can afford to pay it.

Would you agree to a background and credit check?

If they readily agree, then they have nothing to hide from you especially with their finances and ability to pay rent. Since the law mandates getting their consent to conduct such checks, it is to explain your reason behind the checks and if they refuse, it can be a sign of something suspicious.

Also, check if they can provide references from their employer or previous landlords.

Have you experienced eviction in the past?

If the interviewee says “yes,” ask them why and do not threaten to reject them immediately. There could be valid reasons why and this can also test their honesty as there might be pressing circumstances that led to it.

Can you make a security deposit and have your first month’s payment before moving in? 

These are standard requirements and long-time tenants are aware of this. If they cannot provide or comply with it, they may not be the right tenants for your property.

Do you keep a pet?

Whether a rental property allows pets or not, this will help landlords or property managers to determine if the tenant will have a pet living with them and how they can adhere to property rules. 

Is there anyone else living with you on the property?

As the landlord or property manager, you must know who will be residing in the property. This will also determine if the candidate is a good fit especially if that property has other tenants who may not be comfortable with having children or pets around.

Is there anything you would like to know about the property?

This will help you understand their preferences as potential clients. Remember that each tenant is unique, so ask or inquire what they expect out of their rental journey and see if the property suits their needs or preferences.

Knowing and understand who will be living in the property is crucial to any property investment and help promote the sustainability of your property investment, as well as avoid disagreements or problems with tenants in the long run.