Back HomeThe importance of tenant screening
There’s no such thing as the perfect tenant when finding the ones best qualified to take residence in your rental property. But you can get the next best set of people to rent your property through proper tenant screening.
A process that’s often overlooked, tenant screening is a method used for evaluating potential renters. A thorough tenant screening process typically involves an interview and looking at previous landlord references, eviction history, and proof of income. Through tenant screening, you can weed out the good tenants from the not-so-ideal ones. And while tenant screening is optional, it is highly recommended.
Here’s why tenant screening is an important process that should not be skipped:
- It gives you an idea of the applicant’s rental history and financial situation
- You avoid spending thousands of dollars in unpaid rent or property damages
- Tenant screening keeps your property in good condition
- Tenant screening protects your property and neighborhood
- You get to know the tenant
- Tenant screening gives you peace of mind
One of the biggest concerns landlords have when it comes to tenants is if they can keep up with rental payments. Keeping track of these tenant obligations and following up on payments past the due date can be stressful. But knowing about the potential tenant’s rental history and financial situation gives you insights into how they manage their bills and overall finances.
You can learn more about a potential tenant through references and their previous landlord. The former landlord can tell you about any outstanding debts, damage caused, or any major issues.
Having a problem tenant can affect your business as a property owner when they leave you with unpaid rent and costly damages. Evicting tenants and finding new tenants can be a stressful and costly process, as well. That’s why the tenant screening process helps in keeping a low turnover rate because it saves you time, energy, and money.
While property managers and landlords are responsible for the overall maintenance and upkeep, tenants also play a significant role in the property’s condition. A good tenant takes care of the property like it’s their own. They keep it clean and well-maintained and they avoid causing property damage.
As a landlord or property owner, you want to make sure that your tenant has a good record in terms of financial reliability, rental history, and the law. You can never tell from one face-to-face interview if this potential tenant has been involved in previous criminal offenses or instances of questionable behavior.
A background check can fill in those information gaps and help determine the viability of the potential applicant is as a tenant.
Whether it’s via a phone call or an in-person rental property showing, you can get to know the potential tenant and see if they are the right fit for your property. Rental property showings, in particular, allow you to spot red flags and avoid choosing a tenant that could cause problems later on.
One of the things to observe during a rental property showing is the potential tenant’s behavior. If they show up late or are rude, disinterested, and hard to coordinate with, you might want to reconsider.
Having a tenant that is responsible, respectful, and capable of paying their rent on time lets you know that your property is in good hands. After finding a good tenant through the tenant screening process, you can focus on other aspects that require your attention.
Tenant screening tips
- Know the local, state, and federal laws
- Have a tenant screening checklist
- Prepare your screening process
There are certain laws that dictate what you can and cannot ask when screening tenants. It’s important to keep these laws in mind to avoid discriminatory screening practices and other violations. You can check the local, state, and federal laws online or by asking around.
Setting fair criteria is a huge help in figuring out what you want in a tenant. Your tenant screening checklist should include your expectations for those interested in renting your property.
Every landlord needs a screening process, from the first time a potential tenant contacts you to the moment the lease is signed. This helps you stay organized and make sure that you’re renting your property to good people. Among the things to prepare are the pre-screening questions, the rental application, and the lease.
Let us handle the tenant screening process for you
When it comes to property management in College Station, TX, Berkshire Hathaway HomeServices (BHHS) Caliber Realty is the number one choice. They provide excellent property management services, from the careful screening of prospective tenants to providing detailed cash flow statements. Call 979.694.8844 or send them an email at sales(at)bhhscaliber(dotted)com to learn more about property management in Brazos County, Texas.
