Multi Unit Property Management Essentials Screening Tips Advice
Tenant screening is perhaps one of the most important aspects of the leasing process. Taking time in the beginning to search for quality tenants can save landlords a lot of time and hassle in the future in terms of rent collection, turnover, and other various aspects of renting a multiunit property. The following information is a list of suggestions and advice from the experts at Peaks to Plains, a multi unit property management company in the Denver area of Colorado, about what steps to take to ensure proper tenant screening.
Essential Steps for Screening Prospective Tenants
Renting out a multiunit property? Here are some steps you can take that can help you find quality tenants:
- Run a credit check for every applicant.
Perhaps one of the most important things to consider when selecting a tenant for an available unit is their financial history. A tenant who has a good record of being financially responsible is more likely to pay rent on time and be responsible with other aspects of leasing the unit. You should both verify each applicant’s income and run a credit check.
- Perform a criminal background check.
Running a criminal background check is a crucial part of tenant screening. Identifying any red flags now could mean avoiding difficult situations later on. However, because there is no national database of criminal records, running background checks on your own can be time consuming. For this, it may be best to consult with a tenant screening service or multi unit property management company.
- Obtain references from former landlords.
Before approving an applicant, you should analyze and check their rental history. A good candidate will have no problem with providing this information. When you check the applicant’s references, you should plan on asking their former landlord a few simple questions such as Did they pay rent on time? Why did they move out? and What condition was the property in when they left?
- Prescreen tenants via phone and in person.
Before inviting tenants to a showing, it may a be a good idea to ask them a few prescreening questions over the phone. Doing this gives you a better idea of whether or not the applicant will be a good fit for the property and also saves time. When you meet a tenant in person to show the property, analyze their behaviors and personality. If they show up late or seem overly critical of the property, it may be a good idea to move on.
Get More Advice on Multi Unit Property Management
If you’re renting out multiple properties or a multi family unit building, it may be a good idea to consult with a property management company. Screening all of your tenants on your own can be a very tedious and time consuming process. Peaks to Plains is a professional multi unit property management company in the Denver metro area that offers tenant screening services. Call our office today to get more information about our company and the services we provide.