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One of your properties is vacant, and it's time to dive into the tenant pool to find someone right. You speak to several potential tenants, and they all seem nice.
So you go ahead and pick one based on your gut instinct. But your gut was wrong, and that tenant turns out to be a nightmare.
The thing is, you can avoid this scenario by using tenant screening.
Not sure if it's right for you? Then read this tenant screen guide to see some of the greatest benefits you can get.
You Can Filter Out Bad Tenants
Someone might appear to be nice and responsible, but of course, they'll put their best foot forward when they need a roof over their heads.
When it comes to tenant screening advantages, the best one is you can filter out bad tenants. You can see an applicant's criminal history, eviction history, employment, and credit history.
Naturally, you'll want to stay away from those with a rap sheet and stick with people with a clean record, consistent employment, and good credit.
You Can Legally Deny Potential Tenants
Fair housing laws in the US say that you can't discriminate when renting out your property. By adding a tenant screening process, you'll be covered since you can provide evidence that a potential tenant didn't meet your standards.
This will allow you to screen tenants without worrying that legal action can be taken against you. No one will have grounds to do so.
You Can Decrease Turnover
It's in your best interest to keep tenants in your apartments for as long as possible. You keep generating income with very little effort in this scenario.
If you have a high turnover rate, not only will you lose income while the apartments are empty, but you'll also have to put in the effort to find new tenants. Not to mention, you'll also have to make repairs and clean the apartments.
One of the biggest tenant screening benefits is you'll decrease turnover by getting more reliable tenants. They'll be more inclined to sign longer leases and also renew them.
You Can Also Decrease Evictions
On the other hand, if you don't screen tenants, you can end up with delinquent people who won't pay rent on time, or at all. They'll then occupy your apartments and even damage your property.
The eviction process is a lengthy and costly one, which can cause unnecessary stress in your life. Tenant screening allows you to decrease the chances of this happening since you can filter out irresponsible people.
Use Tenant Screening for Your Rental Process
As you can see, tenant screening comes with a number of benefits. Not only can you separate good and bad tenants, but you can also cover yourself legally, decrease turnover, and avoid the hassle of evictions.
With all these advantages, tenant screening should definitely be something every landlord uses.
To take advantage of tenant screening and other property management services, get in touch with us today. We can help take some stress off your shoulders and turn a steady profit.
