Many of the most common issues that landlords face are down to choosing the wrong tenants.
Problems such as damage to your property, missed payments, and neighbor complaints could all be avoided by finding the right tenants from the outset.
The trouble is it's not always so easy to find the right people for your rental property.
Read on as we take a look at some tenant screening tips to help you avoid the nightmares and find great tenants for your properties.
Follow the Law
One of the most important things to keep in mind when screening tenants is that you need to comply with the law.
The Federal Fair Housing Act is a law that states that when selecting tenants, you cannot discriminate based on:
- Family Status
- Race or Color
Some states also have their own state laws that you'll need to abide by.
Consider Credit Scores
One of the simplest ways to find tenants who have a history of keeping up to date with payments is to check their credit history.
In order to earn and maintain a good credit score, you must make all of your payments on time, so a good credit score is a good indication that you won't have any issues with late payments.
You should think about setting a minimum credit score for tenants you would consider.
Proof of the ability to make regular payments is one thing, but you need to choose tenants who can also afford the rent that you're charging.
That's why it's vital that you verify income for any prospective tenants. If they're not earning enough to afford the rent as well as the cost of living then there are bound to be issues somewhere down the line.
If you're contacting a prospective tenant's employer to verify their income, it's a great opportunity to get some information for a tenant background check too. Ask the employer about the tenant, and you may learn something that helps you make your decision.
You should also make sure to get a tenant criminal background check as well so you don't get any nasty surprises.
As well as speaking to their employer, it's always a good idea to get further references for new tenants.
The more you know about them you more information you have to help you make the right decision about who should live in your property.
Consider Tenant Placement Services
If all of the above sounds like a lot of work, that's because it is.
The trouble is, this isn't a decision you can take lightly. You need to be armed with all the facts if you don't want to end up with a nightmare tenant.
The good news is that there is help available. A good tenant placement company can go through all the steps above and more on your behalf so that the difficult decisions are taken out of your hands. They'll find great tenants for you that will make your landlord duties a breeze.
Take the Stress Out of Tenant Screening
If you want to take the stress out of the tenant screening process then we're here to help.
We can locate, screen, and place qualified tenants in your rental property in Salt Lake City. Once we've found your ideal tenant then the day-to-day management turns back over to you. We offer comprehensive tenant screening, can help with lease and security deposit negotiations, and offer detailed move-in condition reports.
We also offer many other services, including single- and multi-family management, portfolio management, existing renter services, and more.
Contact us today to see how we can help you.