The importance of conducting tenant screening
Apr 27, 2020 MicroBilt News
A landlord or property manager has open space they wish to fill. Their property is safe, clean, and located within a well-manicured neighborhood, so they’ll want to contract with a tenant who is honest and will take care of the property. How can property owners and managers best determine which prospective tenants are best? The answer lies within running background screening on the people who apply to rent a property, especially important during the COVID-19 pandemic.
Top reasons to conduct tenant screening
Landlords want to ensure the long-term viability of their property while confirming new tenants won’t cause any problems with other tenants or the home/apartment itself. Background screening is a simple, time-saving, and potentially cost-saving measure. The process can tell you quite a bit about prospective tenants and provide an ability to avoid leasing property to unsavory people who:
- Are likely to not pay their rent and lead you down the eviction path.
- Might participate in questionable behavior and, as a result, drag down the value and quality of the property.
- Have a recent or repetitive history of criminal behavior that might risk bringing illegal activity onto the property.
Screenings essentially help you to determine which rental applicants have the financial capacity to pay rent and are more likely to honor the terms of their leases. In recent years, landlords and property managers have found that by running background screening on a prospective tenant’s personal and financial history, they can mitigate many potential problems that could be quite costly.
COVID-19 and the rental process
The coronavirus pandemic has created an unprecedented situation for landlords and property managers. It’s customary to meet with prospective tenants and conduct an interview before showing them a property, but with so many states and cities requiring shelter in place, stay-at-home, and social distancing rules, this poses a significant challenge.
These restrictions mean landlords and property managers might not have the ability to meet with prospective tenants in person to get a read on them or if they do, there is very limited contact. While real estate might be considered an essential business, it’s important to check local laws before scheduling appointments with people interested in a property.
Under ordinary circumstances, it’s a good idea to do a tenant background screening, but it’s even more so during the pandemic. Meetings, if able to occur, are likely to be short and sweet or take place virtually. You want to be sure you choose a quality tenant to occupy your space, and screening tools provide you the information you need to help you make the best decisions before signing a lease agreement.
Screening tools help landlords make good decisions
There are many tools available to landlords and property managers to enable them to determine the best tenants for their open apartments and homes. MicroBilt offers a comprehensive background screening you need to make the right decisions. Our tools include civil, criminal, and even DMV searches, along with employment verification.
Want to learn more about how MicroBilt can help you make smart rental decisions? Contact us today.