Your worst nightmare as a landlord might be a bad tenant who fails to pay rent or causes property damage. Luckily, there is a simple way to protect your Fairfield, California rental.
While tenant screening isn't foolproof, it can help minimize your risk as a landlord. A thorough process will provide you with insights to make informative decisions.
Reap these tenant screening benefits to get started:
Higher-Quality Tenants
The greatest benefit of tenant screening is that you gain access to higher-quality tenants. Thoroughly screening applicants can help you gain insights on things you can't learn from an in-person meeting.
Connect with past landlords to look for any red flags regarding the tenant's rental history.
You can avoid renting your units out to those who can't afford the rent. A credit check and employment verification are key steps in the tenant screening process.
A credit check determines how reliable a tenant will be. You'll be able to see when and if they pay their bills on time.
Additionally, higher-quality tenants who pay rent on time can help you reduce vacancies. You mitigate your risk of a possible tenant eviction in Fairfield, California.
Safer Rental Properties
Your rental property is your responsibility, so you must keep it safe. If you have a multi-unit investment, this is especially true.
Tenant screening can help you reduce crime and vandalization on your property. Screening tenants involves running a criminal background check. You can weed out applicants most likely to engage in criminal activities.
Finding tenants who stay within the law protects you from damaging costs and keeps other tenants living on the property safer.
It's important to avoid a discrimination lawsuit when screening tenants. If you deny an applicant because of a past crime, you must keep this criterion for every tenant.
Tenant Turnover Reduction
Short-term leases aren't ideal for landlords. When tenants leave, you are forced to market the property to fill the vacancies. Marketing, cleaning, and repairing your property to a respectable condition costs money.
Reliable tenants found through tenant screening are more willing to sign longer leases. This means fewer vacancies and tenant turnover reduction.
Once you have tenants, it's important to create a lease that includes renewal provisions. You can offer lease renewals to keep tenants longer. If tenants plan to leave, ask them to provide you with a notice so you have time to market the vacancy.
This way, you'll be able to lessen the time between vacancies. Good tenants will have no trouble offering you an advance notice that they won't be renewing.
Protect Your Property With Tenant Screening
Tenant screening helps you find ideal tenants who pay rent on time and won't damage the property. To reap these benefits, you need to work with tenant screening services.
Property managers at PMI Northbay have found an effective tenant screening process. We assess the likelihood a tenant will fulfill their lease through a background and credit check.
We know the local California laws regarding tenant screening to keep you compliant. To work with a property management team with over 20 years of experience, contact us today.
