After you've generated tenant interest with your great listing and fair rent price, you need to decipher if prospective tenants will be a good fit for your property. It's common for landlords to make this huge mistake: only requiring a rental application and meeting their tenant at a showing. This method leaves room for error when deciding if a prospective tenant is qualified.
Screening tenants is your key to success. A solid tenant screening process tells you if your tenant will likely pay rent (based on affordability and their financial history) and if your tenant will be responsible (based on employment stability, eviction history and criminal history).
Your tenant screening process should:
- Include a rental application that asks the right questions
- Require a tenant background check
- Include a showing where you ask questions and look out for these red flags:
- Inconsistent answers to questions
- Reluctance to complete a credit and background check
- Delayed communication; expressing disinterest
- Disrespectful behavior at your property showing
Your tenant screening process should be consistent. To ensure you're complying with Fair Housing Laws, you should follow the same process for everyone and talk to a lawyer if you have any questions.
The easiest way to complete tenant screening is online. Using an online application and a credit and criminal background check is faster and provides enhanced security for your tenants. They can be assured that their personal information will not be lost or misused.
The tips in this article will help you choose quality tenants. After all, the goal of tenant screening is to find tenants who pay rent on time and take care of your property. Learn more below on how you can easily screen your tenants online.