I Have a House to Rent. What Now?
If you own rental property, you may be wondering what you should be looking for when screening tenants in Houston, Texas. There are many variables in a background search that can impact your decision. We believe it is a big step when the time comes to rent your dwelling to new tenant, and if an individual has even 1 rental unit–that is a BIG investment!
The best way to find good renters is by having a thorough background check. By having a good process and knowing how to screen tenants properly you can help eliminate costly evictions, destroyed houses, and all around bad renters. We all know bad renters cost landlords money, and the policies you set will mean the difference between profitability and less appealing, a rental unit that never earns a dollar.
FAIR HOUSING MATTERS
STEP NUMBER 1: Document the criteria all tenant will be screened by and be firm once you initiate the rental criteria. Meaning each applicant, friend, family, random applicant, etc. is screened by the same criteria (this also helps you comply with very important fair housing laws). As a landlord you have the right to set debt to income ratios, income to rent ratios, credit score requirements, felony offense denial, and much more. How can this help you ask? When your neighbors 22 year old son wants to rent your newly renovated house without a job or proof of income, or references, you can eliminate a headache before it starts by simply referring him to your rental criteria. CLICK HERE FOR EXAMPLE OF RENTAL CRITERIA
These are some of these things that can be helpful when screening tenants in Houston (or in any location):
- Criminal background (one of the strongest Texas criminal searches available)
- Social Trace and Address History
- Sex offender registration
- Current and prior landlord verification
- Credit report
- Employment verification
- Income verification
- Eviction Report
All of these areas and more will affect your decision as to whether you accept an applicant as a tenant. Screening tenants in Houston is very important to ensure the safety of your property and the other tenants. Thoroughly screening each applicant you consider is essential.
