Is outsourcing your tenant screening process a good idea? The short and sweet answer is yes, but why is this so?
Tenant screening is a time-consuming but necessary process if you want to find the best tenants. If you are a property owner and investor who doesn't have time to complete regular landlord duties, outsourcing can help.
Keep reading to learn why outsourcing your tenant screening is an efficient way to avoid bad tenants.
Access to Comprehensive Screening Services
Professional screening services have access to more tenant data to make the screening process more effective. Outsourcing tenant screening means having access to:
- Rental history check
- Employment history check
- Background check
- Eviction history check
- Credit check
- Criminal check
All of this information will help you make informed decisions on who to rent to. Great tenants who have a history of paying rent on time and no criminal records are the ideal choice.
These tenant services will also ensure that the applicant didn't lie about anything on the rental application. A tenant might seem great on paper, but screening will help you know for sure.
Saves Time and Money
Landlords have a lot of responsibilities on their shoulders, which is why it might be difficult to find time to screen tenants. The process is not only time-consuming, but it can get expensive.
When you hire qualified property managers, they can find the right tenant screening services to make your life as a landlord much easier. Experienced companies will complete background checks efficiently and quickly.
An excellent tenant screening company can evaluate rental applications quickly. They can also run background checks in as little as a few hours.
As a property owner, you can use this free time to continue finding real estate investments to improve your portfolio.
Reduces Liability and Risk
Landlords are responsible for securing a rental property. If a bad tenant slips through the cracks because you didn't have time to screen them, they may damage your property or hurt another tenant making you liable.
If you are an accidental landlord, understanding your risk and reducing liability through outsourcing is especially important.
Professional background checks can adhere to your ideal tenant criteria to minimize the chance of problematic tenants who make your community unsafe.
However, when you create tenant screening criteria, you have to make sure you screen every applicant with the same requirements in mind. If you fail to do this, you could face a discrimination lawsuit.
Familiarizing yourself with Merced, California Fair Housing Laws can also reduce your liability and risk.
Outsource Your Tenant Screening Process
Outsourcing your tenant screening leads to a more streamlined and efficient process. If you don't have time to screen tenants, you could be left with bad tenants who affect your rental property income and increase risk.
Don't downplay the importance of tenant background checks. PMI Merced can help you outsource your tenant screening process by connecting you with the best screening services.
Our rental property management team has years of experience helping landlords like you free up their time. Contact us today to learn more about our services.