Tenant Screening

Tenant Screening: How to Pick a Good Tenant

For landlords, property managers and investors who rent property to tenants, selecting good tenants to rent the property is essential to the financial success of the rental. Good tenants will take care of the property and ensure that the rent is paid on time and in full. On the other hand, questionable tenants may damage property, pay rent late or not at all.

The best way to ensure that landlords and investors select the right tenants for their rental property is thorough tenant screening. Tenant screening may include calling references and employers listed on the rental application, as well as background and rental history checks for the applicants.

Before landlords are able to select good tenants, first they must attract prospective tenants to the property. A few tips will provide lessors with ways to attract potential renters to their rental property. If several renters seek to rent the property, the landlord is able to select the best tenant for the unit from among the best of the interested parties.

Tenant Background Checks

Once potential tenants are seeking out the unit, begin accepting applications from the prospective renters. With the information provided on the rental application, perform cursory checks to select the top three or five applicants. Landlords will most likely want to check the applicant’s credit rating and rental history. Landlords may also wish to perform more in-depth background checks. Use a company that specializes in background checks for tenants to perform the legwork. Companies that perform tenant background checks usually offer different levels of service for different prices. Basic packages will tend to include checks such as:

Premium packages will often add the following services to the basic plan items:

Companies that provide background checks for tenants provide a valuable service for landlords and investors. Though no one can predict whether a tenant will be a good renter or a bad renter, the person’s history will often reveal how they pay their bills and whether they have had rental issues, such as evictions, in the past. History is an excellent predictor of an individual’s future behavior, which is why tenant background checks are a valuable resource for landlords and investors.