Nearly half of Philadelphia's homes are rentals.
With so many renters in the city, there's plenty of opportunity for property owners to find great tenants. There's also the possibility of getting poor tenants if you don't do your due diligence. Tenant screening is the best way to make sure you're getting quality people in your vacancies.
In this post, we're going to give you the top 6 reasons to hire tenant screening companies in Philadelphia. With a professional company doing background and reference checks, you can rest assured that you'll find suitable tenants. Keep reading and learn more about the tenant screening process.
1. Saves Time
Whether you're a property investor with a dozen rentals or your real estate investment brings in extra income, you're probably too busy to effectively screen each tenant. A professional tenant screening company takes this burden out of your hands.
Every time you've got a vacancy, your property manager/tenant screening company will initiate the search for a new tenant. They'll have a thorough list of interview questions for tenants that can separate the good tenants from the best ones. You won't have to lift a finger.
2. Creates a Barrier
The tenant screening process can feel awkward for some landlords. By hiring a professional, you can create a barrier between you and the due diligence of tenant screening. The company will take care of the logistics and you'll simply end up with a great tenant at the end of the process.
3. It's More Thorough
A tenant screening company will be more thorough than you would be if you did it alone. With tenant screening software and years of experience doing this kind of thing, they've got the tools and skills to find the right people for your vacancies.
The tenant screening process should always be thorough. Performing credit checks, calling references, and doing criminal background checks for tenants is the best way to secure the best tenants.
4. Saves You Money
When you have to keep finding new tenants, you'll keep losing months of rent here and there. In addition, the cost of maintaining the property through the wear and tear of tenants coming and leaving is immense.
Should you have to perform an eviction, it's going to cost you time and money. The better bet is to have a thorough screening process up-front and avoid evictions altogether.
5. An Understanding of the Law
A tenant screening service will have an understanding of background checks and fair housing laws. There are right and wrong ways to go about these processes, so it's better to hand the responsibility over to someone that has experience in it.
6. Reduce Turnover
Lastly, hiring a tenant screening service will reduce turnover in your rental properties. Having a stable situation with your real estate investments gives you a reliable monthly income and helps you avoid headaches.
Hire Tenant Screening Companies Every Time
It's easy to see why you should always hire tenant screening companies for your Philadelphia rental investments. These are a few of the main benefits, but nothing is better than not having to worry about your property. A good screening process will ensure that you always have good, respectful tenants.
To learn more about our Philadelphia tenant screening services, contact us today at Home River Group.
