The good news is that avoiding these mistakes can help you attract high-quality tenants and keep your properties running smoothly. This post will examine some of the common tenant screening mistakes and practical tips to avoid them.
Mistake #1: Failing to Screen Consistently
Remaining consistent is imperative for effective tenant screening. Keeping consistency involves employing the same standards for all applicants instead of enabling emotions or personal biases to influence your decisions. Disregarding to screen constantly and objectively can result in various pitfalls, such as missing a fantastic tenant and experiencing possible legal action for discrimination.
Legal action can be a lengthy and expensive procedure, something every rental property owner should work to avoid. Several state and federal laws prohibit discrimination in housing, making it vital to understand how these laws pertain to your state and to keep a compliant screening procedure.
Mistake #2: Not Checking the Right References
A common mistake during screening is forgetting to verify the correct references. As part of the application process, it is vital to gather personal and professional references from prospective tenants along with previous landlords. Employment history, financial references, and personal character references are all appropriate types of references to request. At that point, you need to contact all of these references and ask the right questions.
For illustration, you might inquire about how long they’ve known the applicant, their work performance, how well they care for their current living space, and whether they’ve detected any concerning signals. Tailor your list of questions depending on the particular type of reference you are dealing with.
Mistake #3: Overlooking Credit and Background Checks
A third big mistake in tenant screening is failing to run credit and background checks on the applicant. Both assessments are relatively normal in rental markets nationwide, but some property owners and managers still overlook this opportunity to learn valuable information about their renters.
Credit and background checks reveal information about an individual and can help you identify possible red flags, such as prior evictions, criminal history, or financial difficulties. Although not every negative detail on a credit report or a background check ensures that an application will be rejected, these appraisals do give you what you need to make an informed decision about your next tenant.
Mistake #4: Ignoring Rental History
One of the biggest mistakes a rental property manager can make is neglecting to inspect a possible applicant’s rental history. Rental history is vital as it delivers valuable insight into a renter’s likely future behavior.
When checking rental history, keep an eye out for potential red flags, like overdue payments, property damage, and other lease agreement violations. While it’s critical not to rely solely on a previous landlord’s report of a person, primarily if there were disagreements during the rental period, it can give a helpful insight into the applicant’s potential behavior as a renter.
Mistake #5: Inadequate Communication with Applicants
In conclusion, one final mistake rental property owners and managers make during the screening process is overlooking to communicate clearly and consistently with the applicant. Seeking a rental home can be a stressful experience for renters, and it’s easy for irritation to build up and cause negative feelings. Don’t forget that your renter’s experience starts with the first interaction with you and will continue throughout your association, notwithstanding its duration.
To foster a positive relationship with your tenant, begin by clearly outlining your application standards, due dates, and how your decision will be communicated. For this reason, you can avoid misunderstandings that might annoy or sadden applicants and result in negative reviews.
Get Your Screening Process Right!
By applying these tips and strategies, you can efficiently avoid the top mistakes rental property owners and managers make during the screening process. This can ultimately lead to improved tenant retention, fewer problems, and even boost your reputation as a landlord.
Careful tenant screening can be time-consuming. Looking to hand over this task to professionals and improve your tenant screening in Orland Park? Feel free to talk to Real Property Management Chicago Group. We provide top-notch services featuring a streamlined screening process, guaranteed legal compliance, and additional advantages. Contact us online or call 312-265-0660 for expert property management services.