Got a property to rent out? Don't let just anybody move in. If you're not careful in your tenant selection process, you might end up with bad tenants in your home.
Fortunately, there's a way to filter out the good from the bad through tenant screening services. When it comes to this critical process, you're going to want to get the best tenant screening service. Here's how you can save time and money by finding the best-qualified tenant.
The Hidden Risks of Bad Tenants
When you're getting your property ready to rent, you'll want to be sure it's going to tenants you can trust. The number one rule in renting: Don't judge a book by its cover. Even seemingly good renters may have hidden risk factors.
Whether it's verbally or in writing, applicants may misinterpret their history or income to increase their chances of being approved for a rental property. This is especially common when the renters need to move into a new home fast. More often than not, dishonest appliers lead to adverse outcomes for the landlord.
While some outcomes are better than others, landlords often face financial loss as a result. Sometimes, renters make late rent payments to their landlords -- or no payments at all. In other cases, renters may cause expensive damages to the property.
And with more stringent eviction policies passed in Washington, evicting bad tenants is getting more challenging to do. So before you open your door to strangers, make sure they're well-equipped to be responsible renters by screening them carefully.
What are the Signs of a Promising Tenant?
If you want to make sure that all bases are covered, you're going to want to be sure your future tenant has:
- Good Credit
Their credit report should show that:
They make promised payments (credit cards, loans, etc.) on time
They don't have a threatening level of debt (which could risk the chances of them paying rent to you)
- Good Rental History
If they've rented a property before, they should:
Have paid their rent on time every month
Not have any reports of property damage from previous landlords
Not have a high number of claims filed through their renter's insurance
Not have a history of eviction from past rentals
- Promising Employment History
Your tenant should have a consistent account of employment. Individuals who have spent long periods within each of their employment places show a higher chance of maintaining regular earnings. Red flags to look out for are frequent job changes, and shorter time spans within these areas of employment.
- Sufficient Income
Renter(s) should also have enough income to afford your rental property. A good rule of thumb to go by is ensuring the tenant(s) earn at least three times the rental cost they're applying for each month.
What's Needed for the Best Tenant Screening Services?
While there are many tenant screening services available in the Kirkland area, not all of them cover all of the fine details needed to ensure tenant trustworthiness. When you're shopping for tenant screening services, you'll want to go with an agency covering the essentials, such as the applicant's income, employment, renter history, credit, and more.
But don't settle for the bare minimum. If you can find a screening process that evaluates other potential tenant risk factors, you'll be more likely to have renters you can rely on. Criminal background history, credit checks, and more in-depth applicant history investigations can provide further insight into how trustworthy a prospective tenant is.
And with all of this sensitive information being collected, you're not going to want just anyone to conduct the screening. It's important that they conduct the process in a professional and understanding manner while adhering to confidentiality policies.
Why Next Brick?
You may be wondering if it's even possible to find a screening service that can check all the boxes required for the best tenant screening. Don't worry - we've got you covered.
When you choose Next Brick for your property management, tenant screening is one of the many perks we include in our comprehensive services. We've customized a matchmaking process that makes everyone happy. Here's how it works.
Tenants interested in renting properties through our services apply for consideration. Once we confirm that our applicants are trustworthy, we provide a listing of properties that meet the tenant's budgets and housing requirements. If they select your property from our listing, we create a personalized contract for you and the tenants.
We also guarantee that we keep our screening fair from start to finish. With a zero-tolerance for discrimination, we ensure that our screening process does not use any biases against protected populations while complying with the Federal Fair Housing Act, civil rights laws, and local fair housing regulations.
When you are interested in learning more about how we screen our applicants reach out to us. Our policies are carefully explained in our tenant screening criteria.
Secure the Best Tenant Screening Service
Do you want a stress-free way to earn money from your properties?
Choose Next Brick. We cover all the aspects of property rental, including our in-depth tenant screening process.
But that's not all we'll do for you. We continue to track our tenants to make sure they continuously meet our high expectations. From rent collection to client communications, Next Brick covers every aspect of the property rental process.
Check out our pricing packages to see how we can help you with your investment property and contact us when you're ready to revamp your rental management strategy.
