Why Tenant Screening Is An Investment

tenantriskverification February 24, 2012 0

Like with every business venture, there are a lot of things that can go wrong with rental properties. This is the reason why landlords should look into all the facets regarding the management of the rental property. Working with a rental property manager would be a good step towards ensuring success of the business especially since the latter can perform tenant screening efficiently.

When it comes to tenant screening, some landlords might think that it is just a waste of money since they can just add a clause to the agreement that would allow them to evict the tenant if the latter violate the terms and conditions of the agreement with the agreement being laden with strict rules that the tenant should abide with.

On the other hand though, it is always better to have a good tenant that would stay with you for n extended period of time. It might also be hard depending on the current economic and housing situation to find new tenants so making sure that you will have a good tenant is very important.

Relying on chance to find good renters is not a wise decision for any landlord. You might end up with too many things to repair on the property if you let a bad tenant in. Checking the background of a potential renter can be done for the landlord by a property management company if the former is too busy to conduct the said check.

A great way to start the screening process is having the prospective renter fill up a form where they would cite their current employer, their former landlords if applicable, and other important information. Given those two things, you or your manager can check if the individual is really employed by the employer he or she has cited. You can also contact former landlords and ask about how good or bad the tenant is.

While it may take some time to screen a tenant, the landlord can be sure that the person or family that would occupy his or her property would be good to it. There is also a bigger chance that the tenant would be staying with you for a long time which is always good for business.

Landlords should not think about tenant screening as yet another thing to spend money on. It is yet another investment to protect the bigger investment which is the rental property itself.

Source: newtopics

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