Did you know that 35% of all Americans rent their home? With so many renters, owning rental properties can be a lucrative investment.
However, managing your own properties is no easy task. Often tenant screening can become a complicated and time-consuming process. If you're looking for better ways to navigate tenant screening, it's time to take a look at tenant screening services.
Keep reading this guide to learn how tenant screening services can benefit your rental property.
You Get All the Necessary Tenant Information
One of the most challenging things about being a property owner is conducting a thorough tenant screening. You need to obtain relevant information on all possible future tenants.
When you use an experienced property management company, you get every piece of information you need. These companies check information like:
- Tenant background checks like credit reports
- Tenant criminal background check
- Income verification
- Employment history
- Past rental history
- Past evictions
- Screen for SSN or identity fraud
Saves You Time and Money
When you're a property owner working alone, collecting information on a potential tenant is very time-consuming. You'll have to do numerous screenings more often if you have many rental properties.
Ultimately, this leaves your properties vacant for longer and starts to have a significant financial impact. It also doesn't allow you to focus your efforts on growing your business.
Property services can do these checks quickly and efficiently, which allows you to fill your vacancies sooner.
Reduces Your Liability Risks
As a landlord, you're responsible for following state and federal regulations when you conduct tenant screenings. You need to be aware of The Fair Housing Act and your state's laws on discriminating against people based on things like:
- Familial status
You must also be careful with denying people housing based on past criminal convictions.
You can't deny a person based on arrest records or solely because they have a criminal record. However, you can evaluate it on a case-by-case basis, but you need the right facts and evidence to make these determinations.
Tenant screening services help you avoid gray areas and keep you compliant with all your screenings.
Helps You Avoid Evictions
Evictions are both extremely costly and time-consuming. From property damage and missing rent payments to court costs, they're something you need to avoid entirely.
Tenant screenings allow you to find a reliable tenant who will pay rent on time and take care of your property.
Property managers are experienced in running accurate and efficient tenant screenings. They know how to find the right tenant who will stay long-term.
Most companies will also provide eviction protection by quickly removing the stress and re-renting the property.
Hire a Property Management Company for Tenant Screening Services
Tenant screening services offer considerable benefits to your rental property overall and will help you grow your business more in the long run.
For reliable tenant screening services in Miami, you won't have to look any further than Pristine Property Management. In addition to tenant screening, we offer full-service property management such as marketing, rent collection, and maintenance.
We also offer eviction protection and reliable financial reporting that helps you keep close tabs on your property investments.
We look forward to helping you, so make sure to contact us today!