Property management can be very rewarding, but it all starts with choosing the right tenants. You want to find tenants who will pay their rent, won’t damage the unit, and will care for the unit properly. You also will typically want tenants who are relatively quiet and are planning to stay long-term. The best way to find quality tenants is to know how to perform a proper tenant screening, and we have a few tips on how to do so.
#1 Verify Income Source
Before renting, you need to ensure they can afford to pay the rent. Asking potential tenants what they do and how much money they make isn’t enough. A person can lie, and you won’t know until they are unable to pay their rent. It is best to request a pay stub and contact the employer listed on the pay stub to ensure they are really employed there and confirm the amount of money they make.
#2 Run a Credit Check On All Adults
It is best to run a credit check on all adults that will be moving into the unit. If potential tenants pay their bills and have a high credit score, there is a good chance they will keep up with their rent as well.
#3 Run a Background Check On All Adults
A background check is essential in finding quality tenants. You should run a background check on everyone over 18 that will be living in the home. You will be able to see if potential tenants have criminal backgrounds or if they were ever evicted. It is a good idea to make a copy of everyone’s identification. It is not uncommon for a person to use a relative’s information if they are worried about something that could come up during the background check, so be sure to watch for that.
#4 Contact Two Landlords
One of the best ways to get an idea of the type of tenant a person is, is by asking their previous landlords. It is usually best to call their current landlord and the one before that. They will be able to tell you if the prospective tenant left the property damaged or not, if they were easy to work with, and more that an application couldn’t tell you.
#5 Check Out Their Social Media Page
Social media sites, such as Facebook, Instagram, and LinkedIn can give you plenty of information about the people you are considering renting to. You can use their social media to confirm their employment and the places they have lived. You can also scroll through their posts to see what their overall lifestyle is like. This can give you an idea of whether these people are the people you want living in your rental property.
If you don’t have the time or energy to run a thorough tenant screening, you should hire a property management company. Here at Specialized Property Management Atlanta, we handle the screening and many other essential tasks that your rental property requires to be effective. Our tenant screening process has been proven to find some of the best tenants that property owners have ever had. For more information or to get a quote, call us at 404-596-8429 or contact us online today.
