How do you screen tenants for property management success?

3 Pre-screen applicants

After you receive inquiries from interested tenants, you need to pre-screen them to filter out those who are not qualified or suitable for your property. You can do this by asking them some basic questions over the phone or email, such as their name, income, reason for moving, number of occupants, pets, smoking habits, and availability. You should also inform them about your screening criteria and fees, and ask them if they meet them and agree to them. This way, you can save time and money by avoiding showing your property to unqualified or uninterested applicants.

4 Show your property

The next step is to show your property to the pre-screened applicants who are still interested. You should schedule a convenient time for both parties and confirm it beforehand. You should also prepare your property for the showing by cleaning it, fixing any issues, and staging it to make it look attractive and inviting. During the showing, you should greet the applicants warmly, give them a tour of the property, answer their questions, and highlight the benefits and features of your property. You should also observe their behavior and attitude, and look for any red flags such as bad manners, complaints, or signs of dishonesty.

5 Verify information

After the showing, you should collect the applications from the applicants who want to rent your property. You should review the applications carefully and verify the information they provide. You should check their income, credit history, criminal background, eviction history, and references. You should also ask for their consent and authorization to run these checks and charge them a reasonable fee to cover the costs. You should use a reputable and reliable screening service or software to conduct these checks and obtain accurate and comprehensive reports. You should also follow the applicable laws and regulations regarding the use and disclosure of this information.

6 Select the best tenant

The final step is to select the best tenant for your property based on the results of your screening process. You should compare the applicants based on your criteria and choose the one who meets or exceeds them. You should also consider other factors such as their compatibility with your property, their communication skills, and their eagerness to rent your property. You should notify the selected tenant as soon as possible and offer them the lease agreement. You should also notify the rejected applicants and explain the reasons for your decision. You should keep a record of your screening process and decision for future reference and evidence.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?