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How Far Management Companies Should Dig When Screening Tenants

When you own a property, you need to make sure that you do everything you can to keep your income steady. You need to make sure that you have quality tenants staying in your property at all times, and tenant screening is a great way to make sure this happens.

Criminal Record

When screening your tenants, you should check for the obvious. This includes a criminal record check. Check for things such as violence, property abuse, substance abuse and reckless behaviour. If someone has a speeding ticket, then this is no reason to deter them from your property. You should only deter tenants who have outstanding violations that could pose as risk to either your property, or your other tenants.

Property Missed Payments

Another thing you should look for is property missed payments. You don’t want someone staying in your property that is incapable of making payments. Your property management company will be able to dig into this, seeing how far the payments go back. If a tenant has only missed one payment, then you have no grounds to reject them if everything else is in order.

Property History and Past Landlords

Another thing you should look into is the history the tenant has with other landlords. If you find that the tenant has a history of jumping between properties at short intervals, then you may want to avoid them. Tenants who hop between properties at regular intervals will hinder your profits, and it is much better to have one long lasting tenant as opposed to several who move in and out all the time.

As you can see, these are the main things you should focus on when digging into the history of the tenant. Failure to do so could leave you with a troublesome tenant, who disrupts your profits and your property on a regular basis. Only screen the tenant for the things that would hinder your investment. Rejecting a tenant on basis of something that is irrelevant, such as a shoplifting charge when they were young would not be practical to your investment. The criminal offense has nothing to do with their reliability as a tenant, especially if it was committed some time ago.