When you begin to dabble in the rental real estate world, you will find that tenants range from the highest quality to the less than stellar. As you begin looking for tenants to rent your residential rental properties, it is important to know how to protect your investment. You want to sign a lease with an individual that will pay their rent on time but also will keep your property in top condition. So how do you ensure you choose the right individual? With tenant screening! The process of screening tenants will allow you to weed out the unsavory and choose the right individual to rent your property.
Using Tenant Screening to Your Advantage
With tenant screening, you are getting to know more about the individual that wishes to rent your property. The screening process can include a background check as well as references from former landlords. Use this information to your advantage. Contact former landlords and discuss how the tenant was in their former homes.
Ask the right questions of the landlord such as if there were any issues with the property when the tenant left. You want to find out how they treated their former homes. If the properties were left neat and tidy, without damage, then you can trust the tenant will do the same for you. If you find that the landlord and tenant parted ways on bad terms and the property was trashed, then it is best to choose someone else for your rental property.
Employment and Criminal History
Additional areas to consider during tenant screening is employment and criminal history. Speak to the individual’s employer and find out about their work ethic. Learn what you can from the employer to determine what type of individual you are dealing with. As far as criminal history is concerned, look for what the individual might have done in the past. If there are charges stemming from the destruction of property, then you might want to be worried about renting to that person. However, it is important to note the age of the individual at the time of the crimes. The teenage years and early 20s can be a time when stupid mistakes are made.
By taking tenant screening seriously and finding out everything you can about a potential renter, you are helping to protect your real estate investment. Avoid any unwanted destruction or repair needs to your property by finding the right individuals to rent to.