Here is a short video that will show demonstrate the cost of a bad tenant. This is a new property we just took over that was managed by the owner. The tenants were seven month behind on rent and left us this huge mess. I wanted to share this video and point out some things we do to prevent or at the very least reduce the chances of this happening.
At AZ Property Management Group we follow strict, proven guidelines to find qualified tenants with verifiable income that meets our minimum standard, we check credit and rental history. Additionally we check for evictions, criminal background, check the sex offender list and many more steps to ensure the tenants are qualified and can afford the home. The worst tenant will likely have a track record. Looking deep in to their history will usually tell us the story.
Following our procedures will reduce the chances of this happening, but it does not eliminate the chances completely. Let’s face it, life happens which is why we are strict on payments and will start the eviction process on the 5th of the month if rent is not received. Being strict and fast to react to non payment of rent will do a few things. One, it will show the tenant we will not tolerate it. Two, it will get them out of the home quickly which reduces the risk of damage like shown in this video. And three, it gets them out so we can get a new, good, paying tenant in right away.
The cost of a bad tenant will trump the cost of a good property manager. I urge you to look in to what we offer, we’d be happy to justify our fee structure and show you how often times we are able to pay our own fe from decreased vacancy time, higher rents, less evictions, lower maintenance costs, less turnovers and many other factors. If you’d like to discuss in detail the way we find great tenants and other property management practices, we’d love to discuss them with you.