The good thing is that avoiding these mistakes can help you attract high-quality tenants and keep your properties running smoothly. Below are numerous of the most common tenant screening mistakes, accompanied by practical tips on how to avoid them.
Mistake #1: Failing to Screen Consistently
Consistency is important to effective tenant screening. A critical aspect of consistency is ensuring that you use the same standard for every applicant instead of allowing emotions or personal biases to influence your decisions. There are several risks connected with neglecting to screen consistently and objectively, including missed chances for a great tenant and potential lawsuits for discrimination.
Legal action is both time-consuming and costly and an outcome that all rental property owners should actively strive to avoid. Numerous state and federal laws prohibit discrimination in housing, and it is important to understand how these laws apply to you and to keep a compliant screening process.
Mistake #2: Not Checking the Right References
Another common mistake during screening is lacking to verify the correct references. As part of the application process, you need to acquire personal and professional references from prospective tenants in addition to previous landlords. Employment history, financial references, and personal character references are all suitable kinds of references to request. Afterward, guarantee that you reach out to all of these references and ask the right questions.
For example, you could ask them about how long they’ve known the applicant, how they do at work, how well they care for their current living space, and whether they have noticed any concerning actions. Depending on the type of reference, you should tailor your list of questions suitably.
Mistake #3: Overlooking Credit and Background Checks
One significant mistake in tenant screening is forgetting to run credit and background checks on the applicant. Both assessments are relatively typical in rental markets nationwide, but some property owners and managers continue to neglect this opportunity to learn valuable information about their renters.
Credit and background checks present valuable insights into an individual’s history, permitting you to identify possible red flags, such as prior evictions, criminal history, or financial difficulties. Even though not every adverse entry on a credit report or a background check guarantees the rejection of an application, these evaluations do give you what you need to make an informed decision about your next tenant.
Mistake #4: Ignoring Rental History
The most significant mistake a rental property manager can make is not examining a potential applicant’s rental history. Rental history is important to check because it can give you awareness of a renter’s likely future behavior.
When evaluating rental history, you need to be attentive to possible red flags, including unpunctual payments, property damage, and other lease agreement violations. While it is unwise to rely solely on a previous landlord’s report of a person, specifically if there were disagreements during the rental period, it can present key information about how the applicant is likely to behave as a renter.
Mistake #5: Inadequate Communication with Applicants
In the end, the last mistake rental property owners and managers make during the screening process is failing to communicate clearly and consistently with the applicant. Looking for a rental home can be a stressful experience for renters, and dissatisfaction can easily intensify into negative feelings. Remember that your renter’s experience starts with the first communication with you and will continue throughout your association, regardless of its period.
To foster a positive relationship with your tenant, begin by being transparent about your application requirements, deadlines, and how your decision will be communicated. This method helps avoid misunderstandings that could frustrate or dishearten applicants and result in negative reviews.
Get Your Screening Process Right!
By executing these tips and strategies, you can directly avoid the top mistakes rental property owners and managers make during the screening process. This can ultimately result in better tenant retention, reduced difficulties, and even boost your reputation as a landlord.
Thorough tenant screening may necessitate a significant investment of time. Looking to entrust this duty to specialists and improve your tenant screening in Maywood Park? Get in touch with Real Property Management Expand for further assistance. Our outstanding services include a streamlined screening process, guaranteed compliance with law, and so on. Contact us online or call 971-229-4555 for expert property management services.