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Tenant Screening - Step-by-step


tenant screening services - If you are a investor that owns apartment buildings or even a property manager, you know the value of tenant screening. Tenant selection is among the most important activities in owning and managing apartments.

tenant screening services - In this post, I would like to look at How To Do Tenant Screening - Detail by detail. Please be aware that through the informational purposes only - and laws change from one state to another.

Step #1. Credit History
Best property management companies understand the price of checking a potential tenant's credit score. An up-to-date credit history is a crucial tool within the tenant selection process. It not just displays an individual's capacity to pay their bills promptly, but additionally an eye on if they are being responsible with their credit.

Step #2. Criminal record
Just as important as a good credit history is having a clean police arrest records. This might be much more important. Again, this is a way of measuring responsibility, and ensures that you aren't renting to sex offenders or violent criminals. In reality, most prospective residents will be really very happy to hear which you also check criminal backgrounds. It's rather a good marketing strategy in providing a secure and economical home.

Step #3. Residence History
Many prospective residents could have a few minor blemishes on their credit history. Even if they do not have any blemishes on their credit history it is best to verify their residence history, too. You'll want to determine if they are paying rent on time, if they're a good tenant, and when their landlord would rent in their mind again.

One tip I'd give here is to not only contact their current landlord, but also the one before that. If their existing landlord wants them out, they may offer a more positive reference than deserved.

Step #4. Employment Verification
Another part of the verification process is to look at your prospective tenant's employment status. You'll want to try to find some measure of stability inside their employment, and to make sure their period of employment.

Step #5. Income Requirements
Just about the most important parts in tenant screening is verifying their income. This essentially demonstrates remarkable ability to pay the rent. Let's face it...unexpected expenses show up for all of us. The car needs to be repaired, surprise bill arrives, etc. This is the reason we typically require their income equate to three or Four times the quantity of their rent. This ought to help in ensuring that they are able to spend the money for rent, along with cover some of the people unexpected expenses that naturally occur.

tenant screening