According to studies, 44.1 million American households are renting their homes. With those high numbers, you will probably have a few bad tenants applying to rent your property.
When renting out your property in real estate, you want to avoid taking on bad tenants who will default on rent payments or trash the place. So how do you prevent this situation from happening? It's simple; you start a tenant screening process.
So, keep reading if you're interested in how to select a tenant screening service that will work for you. Here's what you need to know.
1. Ask Around
One way to begin your search for the perfect tenant screening company is to ask for referrals. Ask friends, family, or even work colleagues if they have recommendations for companies they've used.
This method is an excellent option because you'll get honest feedback from people you can trust. Additionally, you can also spend time reading online reviews. Finding a good screening company can protect your property from damage.
2. Check the Service Offerings
If you've found a few tenant screening companies, it's time to visit their websites to see what their company offers you as a landlord in terms of service. While standard offerings like background checks for tenants should be provided, extra services like tenant screening report deliveries can go a long way to giving you good value.
Additionally, some licensed tenant screening service companies may only offer a credit check, while others will perform a thorough credit report. This report is more in-depth than a credit check and can include information on their credit score, history, etc.
3. Check their References
You want to hear from satisfied customers about their tenant screening experience with the company you're considering, and a great way to do that is to check references. If a company has no contactable references, you should pass them over entirely or at least place them on the back burner.
Companies with a good track record will have a list of several customers of theirs you can contact. Even if you don't end up reaching out to them, it's worthwhile knowing the company has contactable references.
4. Compare Pricing
When you have a shortlist of tenant screening companies that you are considering, remember to put them against one another and compare pricing. Beware of companies offering their services at a price that seems too good to be true. The old saying applies here that if it sounds too good to be true, then it probably is.
There are different payment options depending on which company you choose. Some companies have a once-off fee for each screening, and others may offer a monthly service subscription. You want to ensure the company you use uses the most up-to-date databases for its screenings.
Select a Tenant Screening Service That Works for You Today
As a landlord, it's essential to select a tenant screening service to assist you with finding the perfect tenant. To avoid getting stuck with a tenant who will default on payments or not look after the place, having all applicants undergo a screening process first is vital. That way, you can protect yourself and your property.
If you are looking for world-class property management in Idaho Falls, Idaho, then contact us today. Your property is our priority, and we are ready to assist. We offer residential management, leasing and brokerage services, and agent referrals.