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Factors to Consider in Tenant Screening

One of the most crucial responsibilities of any rental property owner is screening the tenant. This is your opportunity to ensure your rental property is occupied by a person who will stay there for as long as they can, pay for it consistently, and take good care of it.

However, you’ve got to be cautious with this process since any hit of discrimination can end up badly for you. This is the reason why most landlords search for “property management near me” to help them with the process.

But, there are a couple of crucial factors that should influence your decision on whether or not you should accept that tenant. Here are some of them:

References

Your application for tenant screening will probably ask personal references. Thus, you’ve got to take advantage of this. Contact the individuals they have listed. This is particularly true for their previous landlords or employers. You should see if you could get a feel for how trustworthy or reliable the applicant is. This might be one of the most important information pieces you require to feel confident in your choice.

Criminal History

When it comes to screening a tenant, criminal history is a divisive topic. A criminal record should not be a reason for you to stop considering an applicant right away. But, this can be the tipping point factor if you are leaning one way or another. It might be ideal to pass if a tenant had a messy past and they do not have an excellent credit score or a reliable job.

Job History

A potential tenant might be earning a lot of money. However, can you be certain they are still going to earn that kind of money at some point? Of course, this is difficult to estimate since a lot of factors can cause them to switch jobs or lose their job. But, landlords have a dependable factor they can assess. This is the length of time the applicant has held the position. The applicant will probably keep that job in the future if they’ve held it for a very long time already. You can take it as a red flag if the applicant got the job recently and do not have a lot of job history before it.

Earning

You also have to consider the earnings of the applicant. It does not matter how good the credit score of the tenant is. That applicant will have a hard time paying rent in the long term if they’re earning $2,000 every month and you are renting your property for $1,700. A lot of tenants will only apply to properties they know they could pay for.

Personality and Disposition

Perhaps you will not get a sense of the disposition or personality of the tenant. However, you’ll have the opportunity to interview them. Perhaps you have learned that the applicant had a messy financial history, but has recently made a lot of improvements. Thus, you can consider this applicant for your rental property.