If you want to find dependable, responsible tenants that will pay rent on time and take care of the property? First establish a tenant screening process that clearly sets the criteria for qualified applicants.
Screening begins the moment you advertise a rental vacancy and concludes when you hand over the keys. Every step during the tenant screening process should further confirm why the candidate is the best choice out of all applicants. Below is a step-by-step guide to tenant screening for property management companies.
Locating Quality Reliable Tenants
Tenant screening for property management companies starts by attracting the kind of tenants you are looking for. Tenants of all levels are always looking for homes, condos, apartments, or townhouses to rent. With all the tenants on the market, how do you locate and draw in qualified tenants? There are several sources you can use to start your search:
- Posting to all mainstream online listing services
- Social media
- For rent signs on the property
- A local Realtor
Your advertisement or online post should clearly state leasing requirements and be attractive enough to field high-end applicants. Accompany your ads with professional photos. Make sure your rentals are always in impeccable condition. If you want quality tenants, then you must make sure your property is attractive to quality tenants.
Initial Tenant Screening Questions for Applicants
When prospective tenants contact you about a rental, you can start the tenant screening process by asking a few up-front questions. Make sure that your questions are consistent with each client so that you can field and compare the same answers.
Some questions may include:
- What is the reason for your move?
- When do you plan to move?
- Can you provide the deposit and first month’s rent?
- How many occupants are there?
- Will you agree to a tenant background check or tenant credit check?
- Do you have any pets?
Performing Tenant Background Checks
One of the last stages in tenant screening for property management companies is performing comprehensive tenant background checks. Make sure you perform multiple checks so that you can create a well-rounded profile of each applicant.
The slightest omission of crucial information can turn into a nightmare as you deal with a negligent, irresponsible, or destructive tenant. So, what information should you explore when conducting tenant background checks?
Criminal Background Check
A criminal background check allows you to search for any criminal activity that a tenant was involved in. You can conduct a local, state, national, or international search. You will be able to view activity that includes everything from common misdemeanors to felonies.
Social Security Number Trace
A social security check provides basic information such as previous addresses, aliases, and other information. The information is solely based on the number. Therefore, it does not verify that the identity of the number is associated with the applicant.
Tenant Credit Checks
You can use a credit check to determine the financial stability and reliability of an applicant. By viewing a tenant credit check, you can determine if the candidate is capable of paying monthly installments consistently. You can also see payment habits or patterns, rental history, debt amounts, and bankruptcy history. A credit check may be your most important tool while tenant screening in order to establish the viability of a prospective renter.
There are two ways to verify an applicant’s income. First, you can ask the applicant to provide the two most recent pay stubs from their employer. However, the two most recent pay stubs don’t always tell the whole story. What you may want to look for is the overall stability of the applicant. Therefore, you can conduct a full employment verification. You can review an applicant’s entire work history.
Sex Offender Registry Check
Texas law prohibits sex offender registry information from being used to deny housing. You could be sued for damages and possibly fined for doing so. However, to protect your other tenants who may be in proximity to the offender, you may want to add that question on an application. Any applicant who falsely denies being a sex offender can be turned down for a rental.
Complete Tenant Background Checks Service
Are you looking for a reliable company to perform tenant screening for property management companies? Then contact CNET Technology. We offer tenant background checks for property management companies to screen tenants for rental homes, apartments, or townhouses.
To find out more about the tenant background screening services that we provide for property management companies, contact us today at 877-742-0005. You can also schedule a meeting with our team at your convenience.