According to the Public Policy Institute of California, renters make up 44% of households in the state, which is well above the national average of 35%.
With this many renters in the market, finding the right tenants can be a challenge. Even if you market your property well and get a lot of interest, finding tenants who you know will make your experience as a landlord enjoyable can be very tricky.
Outsourcing your tenant screening can be an effective solution here. In this guide, we'll explain why doing so could be the right choice for you. Let's get started.
Why Tenant Screening Is So Important
If you're a new landlord, you might not realize the importance of properly screening tenants. The purpose is to find quality tenants, as those you choose can have a huge impact on how things go with your property.
Effective tenant screening will provide reports on various aspects of a tenant, including:
- Rental history
- Criminal background
- Eviction history
- Credit score
- Employment verification
- References
This helps you determine if any applicants are lying on their application forms. Additionally, you can see if tenants have had any problems in the past with previous landlords. You'll then be able to avoid tenants with red flags and secure ones that have a much better track record.
Benefits of Outsourcing Your Tenant Screening
You could meet tenants in person to get an idea of what they're like. However, a proper tenant background check will give you a much clearer view. This can result in several benefits.
Save Time
Screening tenants can take a long time. If you outsource to a property management company, they can take care of this for you. Their experience means they'll also be able to do it a lot faster so you can get your tenants in and start making an income.
Avoid Legal Actions
If you have tenants that cause issues, you may need to evict them. This can involve a lengthy legal process which is something you definitely want to avoid.
Screening tenants thoroughly will reduce the risk of this. You'll also be able to avoid tenants with a criminal history who may be more likely to break the law while living in your property.
Minimize Stress
Bad tenants can create a huge range of issues. This could cause you a lot of stress which could even leak into other aspects of your life. Screening tenants will help you avoid this potential stress.
Protect Your Investment
One of the most common issues among bad-quality tenants is property damage. Good tenants will look after your property better, helping it hold its value.
When it comes to real estate investing, money can easily be lost if a property is damaged or falls into disrepair. Tenant screening is one of the most effective ways to protect your investment.
Tenant Screening Services in San Jose
Outsourcing your tenant screening can be a very good decision. It will make things much easier for you in both the short and long term.
Fireside Property Management is a professional property management company based in San Jose. We provide a range of services including property marketing, maintenance, and accounting, and have been in operation since 1999. Take a look at our tenant screening page to find out more.
