One of the most important questions asked by homeowners is: “How do I check the credibility of a prospective rental tenant?” As a professional property management firm we understand the cost of having ‘a bad renter.” The cost includes: expensive maintenance repairs, eviction headaches, lost income due to high turnover and all of these challenges = money. So we have partnered with AppFolio, – a software built to eliminate the stress and work of finding a qualified tenant!
There are many aspects of choosing a great tenant. First of which is confirming the identity of a possible tenant. Our application process includes collecting forms of identification for all tenants. We also verify employment. Current and projected income is also important to the security of your property. We use an online financial and background checking system that includes a financial summary and FICO credit score. Results are available quickly, so you can decide quickly.
We also require previous landlord references. This is a step often skipped by rental management companies, but it is essential. References help you know how long a tenant stayed at a previous property and how the property was maintained. It is also an opportunity to know how much the tenant was paying and if the rent was paid on time.
Choose a company that handles the background work to protect your investment. There is technology available to make checking the credibility of a prospective rental tenant easy. Of course our answer is to work with us at Southern Coast Management for your property management.