Every year, more than 900,000 Americans receive eviction notices for failing to pay rent. Apart from rent arrears, landlords must deal with other tenant disputes involving property damage.
Owning and leasing out residential properties can be lucrative. But handling difficult tenants discourages many investors.
This is where a tenant screening company comes in handy. Its main goal is to protect the landlord's properties by vetting the tenants.
Picking a reliable company can be a strenuous but rewarding process. Join us as we discuss six tips on choosing a tenant screening company.
1. Read Online Reviews
The main thing you want to find out when choosing a tenant screening company is their customer service.
Reading online reviews will give you a clear picture of how they carry out the tenant screening process. A good percentage of positive reviews should serve as a green light.
You can also ask other property owners to know the best company for the job.
2. Criminal Background Check
Once you have shortlisted the companies you want, it's wise to inquire about their screening process. Do they carry out criminal background checks for tenants?
The last thing you want is to welcome a source of insecurity into your properties. Besides, harboring criminals might bring you trouble with the law. To avoid all these issues, choose a company that doesn’t skip this crucial process.
See this link for more information on the four main benefits of conducting a renter criminal background check.https://carolinaspropertymanagement.com/blog/4-reasons-to-run-a-tenant-criminal-background-check
3. Credit History Check
Rent arrears issues are common among tenants with poor credit scores. This is why it’s important for the screening company you choose to include this vital step.
The tenant screening company should check for any bankruptcy records, low credit scores, and loan defaults. All these are indicators that the tenant will default on rent payments.
4. Level of Technology
The tenant screening experience involves the collection of personal data. This process demands the use of technology to access recent information on prospecting tenants.
Ensure that the company you choose has the necessary tools to carry out efficient screening.
For insider knowledge on how to fill your rental property with reliable occupants, please click here.
5. Eviction Record Checks
Most landlords never bother checking whether the tenant had prior evictions. However, checking for any eviction records should be a normal part of screening.
If the tenant has faced an eviction, there is a higher chance they will be evicted again. Causes of eviction might include the destruction of property or rent issues.
Since you don't want a repeat of the same, pick a company that includes this step in the tenant screening process.
6. Other Services Offered
As a landlord, many activities go into your day, and you want to provide your tenants with the best services possible.
Therefore, it helps to pick a screening company that can offer other property management services. This way, you can easily follow up on tenant issues.
Choosing a Tenant Screening Company
Handling tenants can be the most daunting part of being a landlord. You can reduce these issues can by picking the right tenants.
The tenant screening process is tiresome and demands that you have the necessary tools. It’s best to outsource a tenant screening company to handle your laborious work.
Contact us for full-service property management in Charlotte, North Carolina.