Poor-quality tenants can lead to evictions becoming necessary. These processes are incredibly expensive and often result in vacancies. Finding the right tenant for your rental property may seem like a time-consuming process, but it is still an important part of managing a rental property. Screening your tenants effectively is incredibly important to reduce the likelihood of evictions and protect your investment.
Require an Application
Every possible tenant should fill out an application and you should never make exceptions to this rule. This will both help you to gather the required information, as well as have proof of the information the tenant originally provided for you. Online applications may be implemented to simplify the application process.
Background Checks and Credit Checks
Always perform both a background check and credit check on possible tenants. This will ensure that you are aware of past evictions, possible debt that your applicant may have, and other issues from their history. Familiarize yourself with Fair Housing Laws to ensure that you don’t deny an applicant for a reason that violates these laws.
Contact References
Contact the applicant’s employer and previous landlord. The landlord will be able to provide you with information regarding the applicant’s conduct, condition of the rental property, and more. Their employer will be able to verify that they are currently employed by them. Be very wary if you discover any discrepancies when you verify the relevant information.
Create Guidelines
Write specific guidelines for criteria that applicants must have. Ensure that all of your employees are trained regarding your criteria. Never make exceptions for your criteria, as this can create legal complications in the future. Guidelines are important in preventing possible lawsuits and ensuring that you can prove precisely why an applicant was denied.
At Keyrenter, we understand the importance of using a screening process to find good tenants for your rental property. For this reason, we employ a 13-point screening process. To obtain more information about the steps to take to find the right tenant for your rental property, contact our experts at the Keyrenter in East Bay today!
