Today, we are focusing on the individual rental properties we manage at Park Management & Realty Services, and we’re discussing what property owners might do in order to ensure they have the right tenant in their property.
Most individual owners, if they are new to this, can feel desperate if they don’t get a big response right away or there’s not a lot of interest in the property. That can be a little unsettling if you’re new to the rental property industry. But you don’t want to allow just anyone to live in your property, so take the time to do a proper screening. What most people realize is that making a decision motivated by fear can create a nightmare over time. You want to interview the potential renter in a way that ensures – at least to your ability – that they’ll be a good fit for you. Here are some ideas that most rental property managers do. Hopefully, it will end up with a good result for you.
Employment and Landlord Verifications
Check for employment verification. You want to find out how long a tenant has been on the job and if they are responsible about showing up. In addition to the employment verification, you also want to talk to previous landlords. You need to be careful about this because if the tenant is giving you a fictitious number directed at a personal friend or someone who isn’t the actual landlord, you are probably going to get information that isn’t true. You don’t really know who you’re calling, so do a little research to confirm you’re talking to the appropriate person.
There are also a few steps in the screening process that can be costly, but doing them will be rewarding over time. We always recommend you do a full credit check. In most cases, you will need to hire a service to get that information for you. In the ideal situation, you’ll also be doing a national background check. This is not something that most individual property owners have access to, but it’s a valuable tool that helps give you the best experience as a landlord.
If you need help with professional tenant screening, or you’d like to talk more about this topic, please contact us at Park Management & Realty Services and we’d be happy to help you.