Screening prospective tenants’ essential duty of a landlord in Sacramento. As the tenant you place on your property will have a major impact on the success of your investment. A good tenant will pay their rent on time and maintain the property. Whereas a bad tenant can cost you money and cause property damage.
At Peak Residential, we believe it is critical that landlords land the best possible tenant for their property. So, these are the most important screening tips we would recommend:
When screening candidates and setting their lease agreement, landlords are sometimes tempted to "follow their instincts" or just assume that a nice applicant will make a good renter. Unfortunately, this may not be the best method of finding a great tenant.
One of the best ways to keep yourself on track is to use objective, written standards for tenant screening. When you commence the screening process with these goals in place, it is easier to keep to the criteria and guarantee that you pick tenants based on the most important factors.
One of the most crucial aspects of tenant screening is reviewing a renter's history and whether they will stay for the long-term. This helps you see what kind of tenant they've been in the past and make the appropriate judgement on whether or not they are relevant for your property.
When considering what aspects of their history you should look at, we would recommend talking to previous landlords to check their payment history. We would also recommend checking the prospects employment and credit history.
This may seem daunting, but if you have any questions, please contact us at Peak Residential, we can help you screen your prospects effectively.
A credit check can reveal a lot. These are useful to determine whether tenants have a track record of meeting their financial obligations. You can check the public records section of a credit report to determine if they have ever been evicted or had any judgments served against them.
While dismissing someone based solely on their score may be easy, you should avoid making hasty conclusions. If you have questions, its best to ask the applicant to explain their situation and go from there.
Following the Fair Housing Act is incredibly important. The act is in place to ensure that landlords do not refuse people the ability to rent property because of their ethnicity, religion, or other similar factors. To avoid discrimination lawsuits, follow the Fair Housing Act's landlord code of ethics.
Another important tip: thoroughly analyze every application.
There are several details that a qualified prospect will always provide. They are as follows:
· Legal names.
· Correct address.
· Phone number.
· The number on a driver's license if any.
· Former landlord references and contact information
· Details about their occupation and contact information for the present employer.
Typically, a good tenant typically has nothing to conceal. So, in general, they will likely prepare all documentation in advance to demonstrate their dependability and desire for your property. Be mindful to also adhere to the Fair Housing Act during your evaluation.
When you meet individuals during an open house, you tend to focus more on your property than on the person in front of you. But you'll be able to learn a lot more about your applicants by calling them and getting to know who they are.
In this case, feel free to inquire about their lifestyle and preferences, but avoid discrimination based on their skin color or country origin, race, religion, gender, family situation, or possible disability.
A professional, experienced property manager provides many significant benefits to a landlord. For starters, you won't have to waste time dealing with insincere or unqualified applicants.
A certified and experienced property manager is also more likely to be aware of changing state laws, federal rules, and local ordinances.
They can keep landlords from making typical layman mistakes like publishing discriminatory language in housing ads, which may cost unwary landlords tens of thousands of dollars in penalties and court expenses.
For more information on how a property manager can help you, please don’t hesitate to contact ourselves at Peak Residential.
At Peak Residential we believe that an effective tenant screening solution is the best way to get great tenants into your property. Should you have any questions please don't hesitate to contact us!
We handle everything from marketing your property to screening renters, property upkeep, rent collecting, leasing preparation, and financial reporting. Our goal is for your Sacramento property to prosper to the greatest extent possible while keeping you informed of its progress. Please contact us at 916-988-5357 or info@peakresidential.com.
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