Having rental property is a serious investment. Like many serious investments, it involves taking on risk. Every time you rent to someone, you're taking a chance.
Bad tenants might not pay rent on time, and they might not take good care of the property. These kinds of tenants can cause serious financial difficulty, so naturally, landlords want to avoid them. The best way to do this is tenant screening.
So what is involved in tenant screening, and why do so many landlords outsource it? Read on to find out more.
What is Tenant Screening?
Simply put, tenant screening involves investigating potential tenants. This lets you identify the tenants who might cause problems early on. By avoiding renting to them in the first place, you avoid lengthy evictions.
Typically, the process involves tenant credit checks, checking tenant references, and a criminal background check. You might also corroborate this information by doing an interview with potential tenants.
Why Outsource Tenant Screening?
Many landlords hire a professional company to do tenant screening on their behalf. This is because the process is complicated. It takes a real specialist to do a comprehensive, deep dive into a prospective renter.
Once someone starts renting, they gain legal protection. You might learn that they're untrustworthy only after they've signed a contract. But it's too late to kick them out.
Here are some examples of how tenant screening services can help.
Criminal Background Checks
Criminal background checks in the US are a complex business. If you're investigating someone's criminal background, you'll need to check the records in every state. Given the complexity of the legal system, it makes sense to have a pro on your side.
Comply With Tenant Screening Laws
You also need to consider legal compliance. While it's important to get solid information about potential renters, you're not free to do whatever you want. While you're allowed to interview them, there are certain questions you can't ask.
There can be serious consequences for breaking fair housing laws. Working with property management services ensures you're always in compliance.
Maintain High Occupancy Rates
As a landlord, you ideally want your occupancy rates to be as high as possible. Taking a long time to do tenant background checks or hiring bad tenants who end up evicted doesn't help you with that. The best property management companies have extremely fast turnaround times on background checks.
That speed is now augmented by the latest AI-powered screening software. If you want to get the fastest and most accurate tenant screening, it just makes sense to consult with the pros.
Get the Best Tenant Screening Services
Tenant screening services are your first line of defense against renting to bad tenants. Comprehensive screening tells you everything you need to know about a possible renter's character and trustworthiness.
If you want the best tenant screening services, you need to find the right property management partner. Integrity Properties is here to help. We have decades of experience helping landlords like you get accurate and reliable information through comprehensive tenant screening.
Contact us today, and let's discuss how we can help you find the right tenants for your Orange Beach property.
