Most veteran landlords agree – having quality tenants are essential for long-term profitability. Many landlords have dealt with the consequences related to questionable tenants and ignoring the little red flags that should have been paid attention to.
With quality tenant screening, it is possible to weed out some of the problem renters; however, it isn’t foolproof. To learn more about tenant screening tips, continue reading this.
Create Written Qualification Criteria
When someone is a landlord, they may have to decline an applicant at times. In some cases, the applicant could be a member of the protected class under state or federal housing regulations. If an applicant accuses housing discrimination, it is important to have the documents prove gender, family, disability, and race-neutral criteria in advance. It is also essential to show that legal tenant screening methods were used according to realtimecampaign.com.
Verify Income Sources
Just a few years ago, it was almost impossible to fake a pay stub. However, now that everyone has access to high-tech equipment and editing software, it is easier than ever before to alter or forge paystubs. While this is true, with a bit of due diligence and effort, it is possible to determine if a pay stub is fake or real.
To help reduce the risk of being conned, it is good to ask tenants for at least three months of bank statements. Remember, Tenant Screening Services Market Is Booming Across the Globe by 2025, which means there will be more and more options to screen tenants and ensure quality options are found.
Look at a Potential Tenants Social Media Profiles
If an applicant is present in social media, take some time to scroll through their account. Does the information they have provided match their residence history or employment? Are there any references to being incarcerated or committing a crime? Does it look like they have any affiliations with gangs or hate groups? It is best to know the warning signs, and landlords can learn more through the AAOA.
Contact Prior Landlords
A current landlord may speak highly of a tenant just to get a horrible one out of their property. If a tenant is trashing a property, pays late all the time, or is generating complaints, the current landlord has all the incentives to provide a great reference to get them to leave. It is a good idea to call several prior landlords, if possible, to get a less biased reference of the person’s character.
Run a Background Check on Every Applicant
Every adult moving into the property should undergo a background check. Make sure to stay alert to any attempts to substitute a person’s information.
When it comes to tenant screening, be sure to check everything carefully. For landlords who do not think they are up to the challenge of handling this process on their own, they can hire the professionals. Many property management companies will take over the duties and responsibilities of landlords to ensure they get the best tenants in their properties.