Proper tenant screening is essential to having profitable a profitable rental business. If you fail to find a suitable tenant, your rental property will fail to yield the required profits. Our tenant screening process is meant to ensure the most qualified tenant is allowed to occupy a rental house. An ideal tenant is one who is honest, mature, responsible, respectful and submits rent on time.
At LeasingandManagement.com, we know too well the importance of a detailed tenant screening. We see to it that every tenant is subjected to our screening process to ensure only the right individual occupies your property.
In addition, we have a pre-qualification system that we use in order to eliminate tenants that don’t meet our minimum requirements for the leasing process. Doing this saves a lot of time.
We also spend sufficient time with prospective tenants to ask them important information as well as make clarifications on what we expect from them.
What Criteria Do We Use to Screen Potential Tenants for Your Rental Property?
1. Ability to Pay Rent
At Leasingandmanagement.com, we are keen on verifying an applicant’s capability to pay rent. To find out this, we look at the following three key factors:
- Credit History: We verify the credit history of a prospective tenant. This is key as it will help us determine whether a tenant will have the ability to consistently remit their rent.
- Income Verification: Aside from asking a potential tenant questions about their source of income, we do an independent income verification. In this case, we double check details such as a tenant’s history of social security payments or disability pay.
- Employment History: We request for employment history to have a good idea of where a prospective tenant has worked before and their career history.
2. Tenant’s Rental Background
We assess a tenant’s rental background and history using the following techniques:
- Rental History: It is mandatory for tenants interesting in our lease properties to avail details of their current and previous landlords. This enables us to determine if a tenant has any previous history of misconduct.
- Eviction History: Checking eviction history helps us to determine if a tenant has been evicted before and whether it’s safe or not to enter into a lease agreement with them. Eviction processes are costly and time-consuming.
- Criminal History: We put in place checks and precautions by doing criminal background checks to ensure we only lease your property to the right tenant. Our check includes sex offender background checks.
Once a tenant has satisfied the screening criteria, we move onto the next process.
- Lease agreement signing: We always advise tenants to carefully read and understand all the terms and conditions of the lease. In case of any questions, we provide clarification and any assistance.
- Payment of security deposit
- Payment of administrative fees
- Pet deposit Payments: We have a pet policy that explains the kinds of pets allowed in a property, size, type, and number of pets permitted.
Thanks to this screening process, we cut down on the risk of unpaid rent and property damage. Our screening process is done in accordance to the law specifically Federal Fair Housing Rules. When this is done properly, all the parties involved will have a peace of mind.
If you’re looking for a reputable company with the best tenant screening processes, call us today at (843) 723-1988.
See also: Property Repairs & Maintenance Services