When it comes to finding a rental tenant screening can cause a potential renter to shift in his seat. This procedure is used by property owners and managers to ensure that the person renting the property is reliable. After several steps and up to two weeks of processing, it will reveal a future tenant’s criminal background, credit score, and rental history.
The first part of the screening starts with the initial contact. A potential resident will answer a few relevant questions to help eliminate properties that are not best suited. Things like pets, smokers, and desired amenities can limit rental options.
Phase two of tenant screening comes with showing the property. First impressions can say a lot. Prospective renters should use this time to inspect the condition of the space and gauge the strengths and weaknesses of the landlord. The landlord will use it to rate the possible future relationship with the renter. Once the tenant is determined to move forward, the Realtor or property owner will collect the proper paperwork and a deposit.
During the next step, the paperwork is processed so that approval can be made. Questions on the applications will be measured against the results. If a prospect has a felony, there is a high possibility the renter will be denied. A poor credit report can lead to a denial as well, but that issue is most commonly overlooked with employment and salary verification. It could also result in the requirement of a bigger deposit. Also late payments or evictions can affect the approval. Property owners may ask for references, just like an employer, to help make the decision. Once approval is granted, the tenant is free to move into the rental.
- Learn how to find the best tenants
- Discover how to charge the right amount of rent
- Application fee best practices
- Properly perform inspections
- Verify leasing requirements and compliance
- Perfect guide for new and seasoned investors