What are the Main Elements of Tenant Screening?
Screening a prospective tenant is one of the most critical activities that needs to be done for a trouble-free and profitable property management. Just like other worthwhile activities, it comprises of components that should be properly carried out to ensure that the tenant is somebody who is exemplary in conduct and behavior. That is because no property would want to provide haven to someone who has a history of evading financial obligations or someone who has ran afoul of the law.
So, these are the main elements of screening prospective tenants:
- Credit History
The credit history of a tenant is a vital barometer of how reliable a person is and it tells whether the person is responsible or not. The credit history is not just a statement detailing the ability of a tenant in paying his bills on time, but it also checks if he handles his credit responsibly.
- Criminal Background
A criminal background check does not necessarily mean a prospective tenant is somebody who has criminal liabilities. It simply verifies if the person is faultless or not. Any landlord would not want to lease their property to violent criminals or sex offenders.
- Residence History
Through checking residence history, property owners will have a glimpse of how prompt the tenant is in paying his monthly rent. The residence history also includes the previous landlords and the previous properties they have rented before. The landlord can contact the previous landlords and ask about the tenant to know more about him or her.
- Income Check
One of the most important elements of screening tenants is checking the income. It is because it shows the ability of the tenant to pay his bills. Nobody would want to offer his property to someone who would miss or avoid paying his bills.
So, these are just the main elements of tenant screening. Other elements include social security number validation, bankruptcies/liens/judgments, evictions, arrest records and inmates records. Screening tenants can incur additional costs but its advantages far outweigh the costs.
To view the full products of tenant screening integrated in rental software, contact Rentec Direct at (800) 881-5139
or log on to http://www.rentecdirect.com/details/tenant_screening.php
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