Can you believe that more than 44 million households in America rent?
Having such a high demand for rentable properties is great for investors, but it's crucial to remember that not all renters are reliable tenants. If you want to protect your property and collect rent each month without issues, then you need to take tenant screening seriously.
Have you ever wondered what steps you should take before you approve an applicant in Las Vegas? Read our guide that outlines the top tips that will help you find excellent tenants.
Always Conduct a Tenant Background Check
When it comes to real estate, background checks should always be viewed as essential for applicants. It's important to know that landlords need to obtain a signature of consent before they can conduct a background check.
Creating a strong, detailed application will ensure that you don't miss any legal bases during the tenant screening process. This will allow you to keep dangerous criminals away from your property.
Look at Tenants' Rental History
You need to be wary of any tenants who have an eviction in their rental history. Evictions are a serious process, which means that the tenants had to do something bad to warrant that punishment.
Looking at rental history can also give you an idea of how long the applicant could stay in your property. Long-term renters are always desirable since you won't need to invest as much money in marketing vacancies.
Ask for Proof of Income
Owning rental property is an expensive business. You need to have a steady stream of income so you can earn a profit and cover the maintenance and other fees.
Asking for proof of income will give you peace of mind that an applicant has the resources to keep up with their rent each month.
Check Out Their Credit Score
Even though someone may have an impressive salary, this doesn't mean that they're responsible with their money. You shouldn't overlook the value of their credit score.
If an applicant has their debt under control, then this is more proof that you'll have a productive business relationship.
Hire a Property Management Company to Find Good Tenants
Tenant screening should never be rushed. If you're feeling overwhelmed by all of the tasks that you need to do, then you can simplify the process by hiring a property management company.
Not only will they provide thorough screening services, but they can also take care of tenant marketing and a wide variety of other helpful services.
These Are the Most Important Tenant Screening Steps
Every property owner needs to be diligent when it comes to tenant screening. Using these tips will ensure that your property stays safe and you can continue earning more money.
Would you like to get incredible property management services in Las Vegas? Give us a call so you can learn more about all of the different ways that we can help.