When it comes to weighing the pros and cons of professional property management, one hot field of discussion is the task of screening tenants. Choosing the right people for your residence is a vital part of the land lording process. Leasing property to applicants can be compared to a job interview, where finding the most qualified party is the goal. Failing to hire a quality employee can result in a loss of productivity, resources, and even company safety. As a top-notch property management company, Reinvested Development specializes in assisting property owners with every aspect of the rental process. From background checks to depositing checks, we do it all! There are a number of benefits associated with bringing on professional property management for your St. Louis property. Oftentimes, the peace of mind alone is worth the cost!
The purpose of tenant screening is to ensure that applicants are reviewed and picked based on a number of factors. One key factor that your property manager will focus on is the validity of applicant information. Failure to check can lead to unfavorable tenants with unsafe backgrounds. Overall, the verification of information is a top priority in the screening process.If an applicant declares that they have no criminal background, but the check comes back otherwise, red flags should be raised!
Your screening program should work to assess applicants’ tendencies in terms of paying rent on time and having the resources to pay that rent. Typically, property managers ask for applicants to have an income that triples the monthly rent rate. This is to ensure that your new tenants will be able to pay their bills once rent is due. Failure to check this can lead to murkier waters for all parties involved. An applicant’s credit and rental history are key for calculating their chances of moving in. A professional property management company will focus heavily on this aspect of the screening process.
Although rental laws do quite a bit to prevent discriminating tenants with a criminal history, it is interesting to note that tenants with a history of endangering lives or property can be swiftly denied a rental property. Screening your applicants is vital for ensuring that no harm befalls your home or the neighboring populace. This aspect is often a tricky operation due to Fair Housing Laws, all of which bring harsh penalties for discriminating against people. While these acts are very beneficial for society as a whole, they can be hard to navigate when wading through criminal discrimination practices. Reinvested Development has the experience to take of this so that our clients can rest easy!
When it comes to bringing in the right tenants, no shortcuts should be taken. Providing your property to unreliable or even dangerous renters can lead to a number of different disasters. Sleep easy at night knowing that Reinvested Development is at the helm and is professionally caring for your estate. We offer the most reliable property management services available. If you’re looking for comprehensive property management in the St. Louis area, make sure to contact us today!