Providentially, avoiding these mistakes can help you attract high-quality tenants and keep your properties running smoothly. Below are some of the most common tenant screening mistakes, along with practical tips for their avoidance.
Mistake #1: Failing to Screen Consistently
Consistency is crucial to effective tenant screening. A critical factor of consistency is implementing uniform standards for all applicants instead of allowing emotions or personal biases to influence your decisions. Several hazards are linked with inconsistent and subjective screening, such as the loss of an excellent renter and the possibility of discrimination claims.
Legal action is both lengthy and pricey and a result that all rental property owners should diligently strive to avoid. Several state and federal laws prohibit discrimination in housing, making it critical to realize their applicability to your situation and to keep a compliance screening process.
Mistake #2: Not Checking the Right References
A typical mistake during screening is the incapacity to verify the correct references. During the application process, it is important to gather personal and professional references from prospective tenants on top of previous landlords. Employment history, financial references, and personal character references are appropriate categories of references to ask for. Subsequently, guarantee that you reach out to all of these references and ask the right questions.
To be specific, you might ask for how long they’ve known the applicant, their professional performance, how well they care for their current living space, and any detected red flags. Tailor your list of questions depending on the type of reference.
Mistake #3: Overlooking Credit and Background Checks
A significant mistake in tenant screening is ignoring to run credit and background checks on the applicant. Both assessments are generally standard in rental markets nationwide, but some property owners and managers continue to skip this opportunity to learn valuable information about their renters.
Credit and background checks tell a story about an individual and can help you identify possible red flags, such as prior evictions, criminal history, or financial difficulties. While not every undesirable item on a credit report or a background check is an automatic cause for refusal of an application, these estimations 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 neglecting to confirm a prospective applicant’s rental history. Rental history is important as it delivers insight into a renter’s likely future behavior.
When investigating rental history, remain concentrating on possible red flags, such as late payments, harm to property, and other lease agreement violations. Although one should not solely depend on your entire decision on a previous landlord’s report of a person, mostly if there were disagreements during the rental period, it can deliver critical insight into 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 neglecting to communicate clearly and consistently with the applicant. Applying for a rental home can be a stressful experience for renters, and disappointment may swiftly cause negative feelings. The renter’s experience commences with the initial interaction with you and persists throughout your association, regardless of its length.
To foster a positive relationship with your tenant, initiate the process by clearly pronouncing your application criteria, dates, and how your decision will be communicated. This method helps avoid misunderstandings that may dishearten applicants and result in negative reviews.
Get Your Screening Process Right!
By sticking to these tips and strategies, you can greatly avoid the top mistakes rental property owners and managers make during the screening process. This can result in enhanced tenant retention, fewer problems, and even boost your reputation as a landlord.
Complete tenant screening can be labor-intensive. Do you want to delegate these tasks to experts and improve your tenant screening in Mamaroneck? Communicate with Real Property Management DePenn. Our high-rate services encompass a streamlined screening process, ensuring legal compliance, and other offerings. Contact us online or call 866-820-9913 for expert property management services.