Among the many tasks landlords need to do is tenant screening. This is a thorough and detailed process that can take time.
If you want to do this yourself, you need resources and experience in tenant screening. Using professional screeners can be useful and provide you with peace of mind. They are experienced in doing assessments, and their objectivity reduces your risk when making a final decision.
Knowing where to start the process and what guidelines to follow can be tricky. Keep reading for detailed information on outsourcing the tenant screening process.
The Benefits of Outsourcing Tenant Screening
Outsourcing tenant screening can help property owners and managers in many ways. Here are some key considerations:
Skilled professionals are doing these background checks. They are trained to detect red flags and potential fraud. This reduces the risk of leasing to individuals with false information or deception.
Outsourcing can reduce the time, effort, and stress property owners spend on screening. This allows them to focus on other aspects of property management and investment. Life's already stressful enough, so don't add to it!
Tenant screening involves knowledge of legal requirements and compliance standards. Professionals ensure that screenings are conducted per applicable laws and regulations. This reduces any risk of any future legal complications.
They follow fair housing laws and regulations. This approach ensures that there is no bias or discrimination during screening.
Professional services often use standardized criteria and questionnaires. This practice ensures consistency in evaluating potential tenants. It also contributes to fairness during the assessment.
They can access various databases. These resources may not be available to individual property owners. This ensures a comprehensive background check and can provide information that might be crucial in the process.
Services They Provide
They conduct thorough background checks. Using this information, they then recommend tenant applications to property owners or managers.
These checks include a variety of information.
For example, a review of an applicant's credit history can assess their financial responsibility. This involves looking at:
- Credit scores
- Outstanding debts
- Payment history
This also includes verification of their previous:
- Rental history
- Employment status
- Income
These checks help figure out if the applicant is likely to be a good and responsible tenant.
Checking for criminal history. They can check:
- Local criminal records
- State criminal records
- Federal criminal records
This helps to identify any risks associated with the applicant.
They review eviction records. This can confirm if applicants have a history of evictions or not. It can be helpful with a prediction of the likelihood of future eviction issues.
Making Informed Decisions for a Streamlined Rental Process
Outsourcing your tenant screening process can be a strategic move. Property owners can use this to simplify their rental processes, making it overall easier and smarter. Even though you have to pay for this service, it's often cheaper than doing the screening in-house, especially when you think about possible legal expenses and time saved.
PMI Minneapolis St-Paul offers tenant screening services by licensed professionals. Contact us today for help finding the right tenant for your property. We pride ourselves on the attention we pay to details, so rest assured we'll thoroughly screen your potential tenants.
