Each landlord desires to rent their property to
considerate, dependable, and financially responsible tenants. When you include
a customized background check in your rental applications, you can ensure that
you're renting to people who will take good care of your property, pay their
rent on time, and respect their neighbors.
Here are compelling reasons landlords need a thorough
tenant screening process to help them make informed decisions about who they
rent to.
Learn About Tenant's Character and Protect the
Other Tenants
A tenant's background screening gives you the criminal history
of a potential tenant. Minor criminal records such as traffic violations don't
have to be a deal breaker. Such an offense doesn't accurately reflect an
applicant's character, especially if they can honestly explain the situation.
Criminal background screening gives you better ideas of
what kind of person you'll be renting to. If you fail to perform a background
check and someone turns out to be a criminal, the blame for any negative
consequences could fall on you.
Tenant screening tells you more about how well they retain
their jobs. You also learn about their character from their references. A
history of broken rental agreements and several job changes shows a less
trustworthy tenant.
Ensure They Can Always Pay the Rent
You don't want to waste energy and time following up on a
tenant for every month's payment. You also don't want to go through the cost
and stress of an eviction. Know your tenant's financial situation to understand
how they pay their monthly house bills.
Potential clients with huge credit debts could struggle to
keep up with their regular payments, which can also be a problem when their
rent is due every month. If an individual is always paying their loans and
bills on time, trust them to do the same with their rent.
Keep Low Turnover Rates
You need full tenant screening on your clients to avoid
evictions as much as possible. Tenant eviction is long, stressful, and costly.
You'll spend more on marketing fees if you have several evocations. A low
tenant turnover rate saves you energy and time by renewing leases rather than
looking for new tenants. Low turnover rates also show your property is a
desirable place to live, which helps attract new tenants.
Protect Your Reputation
If your property is next to other properties, you risk
jeopardizing your reputation with other occupants if you rent a unit to
unfavorable tenants. In case of distractions, other tenants will poorly rate
your property as they leave.
Keep every tenant content by ensuring each one of them is
neighborly. Through screening, you do away with unsociable potential tenants.
You're likely to predict the tenants' behavior through an interview and a
reference check.
Protect Your Property
As a property owner, you want to ensure that your tenants
respect your properties. Some tenants can prove to be harmful to your apartment
or home. When they damage your property, it costs you money and time to fix.
Avoid renting to tenants with a history of evictions due to property damage.
Although tenant screening is an excellent way to assess an
applicant's financial and rental history, verifying references or employment is
critical. Speak with their personal references and employer in person. As a
confirmation of current income, request to view a current pay stub.
Tenant screening will help protect your property, avoid
legal trouble, find responsible tenants faster, and keep a positive
relationship with your neighbors.
Montgomery Realtors® has been in the real estate sector for
over sixty years. We provide apartment homes throughout Louisville and
supervise several commercial and rental properties. Our mission is to offer
residents the highest level of housing quality and affordability. Contact us
today to book
an appointment.
