How important is your property to you? Do you want to take care of it and continue to invest in it to make it more valuable? Would you want someone, that you trusted, to destroy it or decrease its value? My assumption is, for most (if not all) property owners, the property is your number one priority on the list of things to protect. So what if you rent it out? How can you ensure that it will be taken care of and not defaced?
This is where tenant screening comes into play. Of course, you can not guarantee that these things won’t happen to your property, but there are precautionary measures than can be taken to decrease the risk. Tenant screening along with reference checking is a very beneficial action to take when you are in the market for a new tenant.
A tenant screening is a background check performed on possible renters. These screenings search the applicant’s criminal and credit history and provide information to assure the person is safe and responsible. Allowing you to make an informed decision to rent to them or not. Since the screening will give you criminal history, but nothing about the character of the applicant, reference checks come into play. We all know the value of reference checks, but know they are traditionally labor intensive for a renter/landlord. This is where automated reference checks are key. As the renter/landlord, you are able to customize surveys, or reference check questions, to elicit character information on your applicant. RefLynk reference checks are text based, with email capability, reducing the lead time of returned references and requiring very little work on your end.
There are many other benefits to tenant screening other than trying to keep your property intact from damage, violence, or theft. Screening possible tenants can help identify who the highest quality renters are in your applicant pool, decrease liabilities, and it can reduce tenant turnover. Tenant screenings do not only protect your property, but they also protect the community where your property is located. Because of the nature of a reference check, you will be able to choose which tenant is right for you. This will result in a good relationship and, most likely, will result in a long term tenant. With reference checks, property owners have the ability to ask questions for the would-be tenant’s old landlords such as:
How well was your property taken care of by CANDIDATE’S NAME?
Were there any problems with how the candidate treated you or your property?
How trustworthy is this candidate?
Were they ever late on rent payments?
Questions like these can reveal the tenant’s true character and will give you the maximum amount of information you need in order to decide whether or not to rent to this person. RefLynk’s surveys are completely customizable and you would be able to ask any questions that you feel necessary. Without tenant screening and reference checking you are basically playing the lottery when choosing your next tenant. With the chance of losing property value, adding stress to your daily life, and making your already busy schedule even busier, why take the chance of not screening your future tenants? It could save you a lot of time, stress, and Conducting Tenant Reference Checks
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