Tenant Screening Guide Process- Tips and Best Tenant Screening Services

1. Filtering your tenant applications is an essential step in finding the right renters. If your philosophy used to be “first come, first served,” it’s about time to change that mindset. These days, it’s vital that you know a bit more about prospective tenants before you pick one. This guide offers tips and strategies to help you through the tenant screening process.

2. Invest in Tools The right tools make it easier to winnow down your options. A system or program can reduce the amount of manual work involved in the process. It could help you identify red flags and eliminate dodgy tenant’s right from the start. With the right tools, you can also shorten the amount of time you spend on these tasks. That's one way to make the screening process much more efficient. Hire Pros If you have several properties for rent, then you might want to consider hiring a tenant screening service. With expert assistance, you’ll have pros that stay up to date with the latest changes in the laws that involve housing. Pros are also well aware of the legal side of things. Look at Credentials Pick a tenant screening firm that’s been around for years. Check the company’s background. How long has it been around? How much experience does it have in providing screening services to landlords and property owners? Check out reviews from other clients, too, to get a better sense of the firm, its staff, and how they work. Establish Standards With an expert, set up screening standards. What are your criteria? While it’s important that your criteria don’t discriminate against certain qualities or characteristics, that still leaves a lot of ground to cover. You’ll need to create a list that protects your tenants, neighbors, and community from the possibility of being involved in a potential lawsuit. While those standards might change, depending on the kind of property, the majority of the list should be consistent.

3. Check Qualifications With the right tools, it’s easier to look at the background and qualifications of prospective tenants. You need to find applicants who are financially stable and have an excellent record for paying their rents on time. Also, they need to comply with requirements such as the deposit payment, minimum credit score, occupancy limits (there’s a number of people who can occupy the unit or property), and photo ID along with their social security number. They must also provide proof, so you can verify the source of their income. Create a Form Essential to the process is the creation of the application form. If you already have the right tools, though, this is a breeze. There are pre-made forms that you can customize. Create your own from a template so that you won’t have to come up with your own from scratch. That’s a lot faster and easier. That form should contain everything you need to know from the tenants, including their contact information, rental and residential history, financial history, and even criminal history. Some programs allow you to conduct background checks, too.