Private landlords frequently neglect tenant screening, which is an essential step in the lease process. The reliability and suitability of the prospective tenants are ensured by a careful screening procedure.
Without conducting adequate screening, landlords face the danger of housing bad tenants. Later on, this could cause some very serious problems. Putting in place a robust tenant screening procedure is in the landlord’s best interest.
A good tenant is respectful and simple to contact; they return your calls and texts in a timely manner; they are understanding, sympathetic, and pleasant to deal with. They always pay their rent on time; they never miss a payment, and they will notify you if they anticipate being late for whatever reason. They will take good care of your home.
Let’s face it, nobody wants a bad tenant. It’s just a lot of hassle to deal with them. At Baltimore Village Property Management, we understand this and that’s why we have a very vigorous tenant screening in place. Contact us today for your free rental analysis. Here’s what you should know about finding a good tenant.
1. What to look for in a good tenant
Beyond the hassle of fixing the damage, picking the incorrect tenant for your rental property might result in high costs.
Particularly if there is a sudden tenant churn, which adds an average monthly cost of $1,750.
A tenant who refuses to pay rent or exhibits criminal behavior may need to be evicted in extreme cases.
This behavior puts your financial and mental well-being at considerable risk in addition to endangering the safety of you, your neighbors, and your investment.
Nobody likes to spend their hard-earned cash on legal fees or filing costs, lose time making frequent court appearances, or lose money as a result of tenant turnover and vacant properties.
So, how can you locate excellent tenants who won’t give you trouble?
- Has No Relevant Criminal Convictions
- Good Communicator
- Has a Clean Eviction Record
- Has Healthy Financial and Credit History
- Has a Stable Income and Employment
- Cares for the Property
- Is Honest
2. Questions to ask potential tenants
If you’re looking for a tenant to rent your property, you’ll want to ask the right questions.
When selecting tenants based on criminal histories, take into account the following inquiries to make the best choice for your rental property:
- Was the person found guilty?
- What was the wrongdoing?
- How severe was the crime?
- How many crimes were committed?
- When did the crime take place?
- Does the applicant’s criminal history endanger the safety of other tenants?
- Could the applicant’s capacity to pay the rent be impacted by the offense?
- Could the crime endanger your rental property?
You might find it useful to get certain information from a tenant’s prior landlords, such as:
- Was the applicant’s rent timely paid?
- Did they maintain the building in a decent state?
- Do the neighbors complain about them?
- Can you count on this renter to communicate well?
3. The importance of screening your tenants
Tenant screening primarily safeguards your property.
You can significantly lower your liability and better safeguard the community by screening candidates for any criminal history of property damage, violent acts, or other major crimes that could pose a larger danger to your property.
Another crucial piece of data to include in background checks for candidates is eviction records, which will allow you to determine what kind of tenant they have historically been.
There are several other condo owners in the building where your rental condo is situated.
If you let your apartment to a bad renter, you face the danger of ruining your standing with the other tenants.
A bad neighbor will have an impact on other tenants in the building and may even report you to your condo board.
A poor-quality tenant might also lead to a vacancy in the building, which could mean additional marketing costs for you.
Additionally, you might observe that it gets harder and harder to attract new renters to occupy the building’s other units. The majority of tenants investigate a building before moving in.
Make sure new renters are friendly to their neighbors to keep everyone in the building happy. The tenant selection procedure will aid in removing extremely obnoxious residents.
The screening process, which includes a thorough interview and reference check, can forecast how your tenants will behave once they’ve moved in.
Tenant screening is a process that landlords use to screen potential tenants. It is designed to find out if a potential tenant has any criminal record or is a bad credit risk.
Tenant screening is also used to find out if the potential tenant is a good fit for the property. Tenant screening can be a tricky process and it can be difficult to find a good tenant.
Have you had a foul experience with a bad tenant? Let us know in the comment section below.