One of the biggest concerns that most buyers have when they are searching for a rental property, is whether the tenants they find will stay long term. The second biggest concern is whether those long term tenants will respect the property. The last thing anyone wants is long term tenants who trash the property before they leave, potentially shaving thousands off of an otherwise great investment. This guide will help you use tenant screenings services, and a bit of logic, to screen potential renters to find the best match for you.
When you’re screening potential renters, you should be looking for signs that they’ve maintained a good credit history, and that they have a clean criminal background. This is especially important when you’re renting to a group of tenants in an apartment complex, or something similar. It’s good to make sure that everyone is protected. In fact, many background check services provide more than a landlord credit check, often querying FBI terrorist databases.
Security is a major concern, especially in the post 9/11 world. Offering some measure of safety by screening all renters will help others in your community feel safer about your rentals as well. Tenant background checks can even help justify an increase in rent. People will pay more to live in a safer community.
The language you use in an ad, and its contents, are important if you want to attract the right kind of person.
- Encourage Scarcity: talk about low vacancy rates, and mention limited time offers in your ads. These aren’t just marketing gimmicks, they create a very real sense of urgency to tenants looking for a good home.
- Create a Website: Don’t stop at the Craigslist ad, although that’s useful. It’s often just as useful to include more photographs and better details about the rental property on a high-quality website.
- Sell the Benefits: Living in your community should be something exciting. Don’t just arrange a meeting over the phone, discuss the location and the town you’re renting from. The better your description, the more likely a good tenant will want to settle there.
All of these tips help sell the idea of your home. The home itself should be kept in good condition, and you should do some basic upgrades to modernize things a bit. If you present a nice property and care for your tenants, they’ll usually reward you by being a good tenant.
For more than 33 years, Tenant Screening Services, LLC has offered FCRA compliant background checks to employers and landlords.