3 Tips for Choosing the Best Tenant Screening Company
Dec 2
posted by Jeff LeVan in
Landlord Advice
| 0 Comments
Tenant screening is a vital part of protecting rentals. Whether you have rentals for a business, retirement plant, or simply to add to your assets and portfolio, it's imperative that you do what you can to protect your income. Choosing the right tenant is key to doing just that. Don't take any chances when it comes to choosing renters. Choose a screening company that can help you make the right choices. Consider these tips for selecting a screening company.
Bare Minimum Isn't Enough
Some tenant screening programs can tell you basic facts. Of course, you want to make sure that your tenants have a decent credit score. Yes, you probably would want to know that you aren't renting to a known violent criminal. But random pieces of information aren't always enough to get the full picture of a potential renter. The bare minimum isn't enough. You will want a comprehensive report that validates the full identity of a future tenant. Comprehensive reports should Include information such as background checks, credit reports, bankruptcies, checking account history, total debt, monthly debt, in addition to criminal history. This is the best way to ensure you are selecting the right applicant.
Nothing Is Truly Free
Many screening sites will advertise a $0 screening cost to the landlord. While this seems like a great deal, nothing is really ever free. All these sites are doing is passing the cost of screening off from you as the landlord to your tenant. And remember, your tenants are falling on hard times as well. High application fees can turn potentially respectable tenants away, especially those renters who are more financially conservative.
Support Is a Must
When considering a tenant screening site, it is crucial to consider the amount of support offered to customers. When you have a question about the screening process, you don't want to sit on hold for hours to get the help you need, nor do you want to be given the runaround until you can find the answers you are looking for. While you are waiting for support, good tenants will go fast. Choose a screening company that will answer your phone calls in a timely manner to provide you with the necessary support when you need it. Avoid screening sites that will buy you calls in queues. Also, try to find support that can also take after-hours calls when you are in a pinch. The more support you have when needed, the better your chances of finding quality tenants.
Just as it is important that you choose the right tenants for your rental properties, it is equally important that you choose the right screening services to find those tenants. Evaluate your priorities and choose the screening service company that is the best fit for your needs. After all, screening is the best option you have as a landlord to protect your property and your future.