Did you know that tenant screening results in 14% of rental applications being rejected?
Screening your tenants is a crucial part of leasing. It can help ensure you let your property to reliable and suitable tenants. However, most landlords tend to overlook the process. This can increase your chances of allowing reckless tenants to live on your property. In the long run, it can lead to serious challenges.
If you're considering letting your property, below are a few reasons why you should get comprehensive tenant screening services.
Protect Your Property
Your rental property is a considerable investment. That's why you want to ensure it's well taken care of. Unfortunately, some tenants are irresponsible and can prove detrimental to the condition of your property.
Screening your tenants can help you weed out tenants with destructive behaviors. It can help protect your property from devaluation by bad tenants.
Avoid Late Rent Payments
Chasing tenants for late rent payments can be stressful and time-consuming, especially if you're busy with work and family responsibilities. What's more, rent problems almost always result in evictions. This can cost you a significant amount of money in legal fees and time.
You can avoid this hassle if you implement a strict tenant screening process. It'll help take a detailed look into your tenant's financial situation and determine their reliability when paying monthly rent. Ensure you focus on job security, monthly income, and credit score when screening for renting and leasing.
Stay Away From Legal Trouble
If you skip a tenant screening process, you may be liable if something goes wrong—for example, if a lousy tenant commits a crime. You can be sued for negligence. A tenant background check helps you know tenants with a criminal history.
As a tenant, you're permitted to deny an applicant based on their criminal history. But you must prove that your decision is meant to preserve the safety of your community and property. You should know how to screen tenants, so you aren't being discriminatory.
Reduce Tenant Turnover
Conducting a tenant background check shows prospective tenants that you have a rigorous screening process. It can help you attract the best tenants who can stay long-term or even renew their lease. This way, you won't have to look for new tenants anytime soon.
They will also have confidence in you since they know you don't allow just anyone to let your property.
Gain Peace of Mind
Having bad tenants on your property can be nerve-wracking. They often leave messes that you may have to clean up. You can eliminate the stress by gathering plenty of information about a tenant before giving them access to your property.
Tenant screening can help you rest easy as it enables you to rent to good tenants. It can also give your other tenants peace of mind. You won't have to worry about them evacuating due to the behaviors of an unreliable tenant.
Stay Safe With Tenant Screening
Do you want to let your property to the best tenants? Tenant screening can help you find renters with a sense of responsibility.
At Penny Realty, we conduct thorough residential screening of any professional property management company in San Diego. Contact us to learn more.