Renting homes isn't just a cultural staple in the Twin Cities. Built-to-rent housing is on the rise, too. Because there are so many rental possibilities, it's important that you use tenant background check technology to ensure that you find high-quality renters.
Read on to learn some core benefits of tenant screening for Minneapolis landlords.
1. Eviction History
There's no better indicator of the future than the past. If a tenant was once evicted for failing to pay rent, it's likely to happen again. The tenant market is large enough that you don't need to settle for people with a history of eviction.
Past evictions can also mean behavioral challenges. Some people are evicted for being loud, disruptive, or threatening. These aren't people you want on your property.
2. Criminal Record Information
A tenant background check will also tell you if a prospective renter has a criminal history. If they have committed theft or vandalism before, they're a huge risk to have on your property. If they have a past history of assault or violent crime, they're also a legal liability if they do that on your premises.
3. Financial Wellness
Background checks also serve as credit checks. It's important to rent to people with a score of 690+. This means that they're likely to pay their rent on time.
You also can see their employment history and income. This helps ensure that you rent to people who actually have enough money to pay for their living space.
4. Tenant Screening Is Easy
Tenant screening is simple when you work with a quality property management company. You ask potential renters questions on their application. We use top-notch expert tools to confirm that they're telling the truth.
You can get all the information that you need in moments... and you don't even need to do anything. We'll manage the logistics so that you can spend time choosing the best renters for your specific property with all available facts.
5. You'll Find Long-Term Tenants
When you do thorough background checks, you can make more informed decisions about who to rent to. This means selecting people who you won't have any issues or disputes with. People will be able to live more harmoniously with you as a landlord as well as property managers and neighbors.
But a better living situation isn't the only reason you'll retain tenants for a longer period of time.
You'll have the chance to rent out to people who are interested in longer leases. When you know who's moving into your property, you can ensure that you choose people who have a good income and a steady job in the area. Assuming that the living conditions are good and you allow them to keep their pets, they'll probably stick around.
Conduct a Tenant Background Check
Now that you know the benefits of conducting a tenant background check before renting out your property, it's time to begin finding good tenants. Minneapolis Property Management is committed to helping Minnesota landlords conduct tenant screening quickly and accurately. Schedule a consultation with our experts to discuss all your professional property management needs.
