About 10% of tenants are considered 'bad tenants', and you'll want to avoid them.
Whether you're a new landlord or have years of experience, you can face various challenges. One of the issues that many landlords face is finding suitable tenants, but fortunately, following the right practices will help you.
Tenant screening will give you better insights so you can determine if an applicant is suitable or not. Let's take a look at why tenant screening in Las Vegas is so important for landlords.
What Is Tenant Screening?
You won't know much about applicants when you're looking for new tenants. Tenant screening can give you a much clearer idea. It looks at applicants in detail to provide you with vital information that's relevant to you as a landlord.
This includes things like credit, eviction, and criminal history, which can all indicate how someone will conduct themself as a tenant. You should do a thorough tenant screening before offering an applicant a lease. Note that you'll need their consent to conduct a screening report.
Why Is Tenant Screening Important?
Tenant screening isn't a requirement, but it's highly recommended. It offers several benefits and can give you a better idea of what to expect from a tenant.
Avoid Late Payments
An issue that many landlords face is late rent payments. You should prioritize on-time rent payments, as having to chasse tenants up can be very time-consuming.
If there are consistent rent issues, you may end up having to evict your tenants. This will take time and money, and you'll have to go through the process of replacing them.
A tenant screening report can tell you if a tenant has a history of late rent payments. You can also verify their employment or income - a tenant with a steady income should have no trouble paying their rent on time.
Reduce the Risk of Damage
There will naturally be wear and tear with any rental property, but some tenants make very little effort to look after the properties they live in. When your tenants move out, you don't want to find that they've caused a lot of damage that you then have to deal with yourself.
A tenant screening report can show you if they have a history of such behavior. It's worth hiring a professional tenant screening service as they'll be very thorough with all screening reports.
Protect Your Reputation
If people are aware of an unfavorable tenant that lives in your property, it could affect your reputation as a landlord. This is often more of an issue if you own a property in a building with multiple units.
Other residents may even report you to your condo board if your tenant causes consistent disturbances. Ensuring you have tenants who are responsible and respect their neighbors will eliminate this issue.
Professional Tenant Screening
Tenant screening is vital if you want to ensure you don't have any issues with your tenants. A professional property manager can offer thorough tenant screening services helping make the whole process incredibly simple.
Avalon Realty and Oaktree Management have been providing Las Vegas tenant screening services for 30 years. Take a look at our tenant screening page to find out more about how we can help you.