Tenant Screening - Pre-qualifying a Tenant

When preparing to rent a property it is detrimental to perform a thorough tenant screening as part of the pre-qualifying process. Tenant screening increases your chances of obtaining a good tenant, thereby decreasing the chances of having problems with your tenant.

. To do a good tenant screening you can either (1) hire a property manager or realtor who can conduct the screening for you and guide you in making a decision or (2) you can set up your own account with a tenant screening company and conduct the screening yourself.

There are many online tenant screening companies who specialize in providing detailed background checks for the purpose of qualifying a tenant. A good tenant screening must be thorough but it doesn’t mean that you have to break the bank. In fact, you may want to check your local state laws to verify if you are able to pass on the tenant screening cost to your applicants.

When doing tenant screening / prequalifying a tenant:

    * Always have your applicant completely fill out a rental application. You will need their data to conduct the background check and their signature consenting to the tenant screening.

        - Make sure they fill in all contact information for previous landlords so that you may contact them for a reference

        - Request a copy of a paycheck stub as a way of verifying their income but you should also contact the employer directly for additional verification.

        - Make sure the application is neat and legible to avoid any errors in processing

    * Verify the applicants identity by requesting a copy of the applicant’s driver’s license and social security card.

    * Select a good Tenant Screening company who is BBB accredited, is in compliance with FCRA laws, and has reliable data to provide.

    * Carefully review the results of the Tenant Screening to weigh the risks of renting to this applicant.

    * Make sure expand your tenant screening search to all the states where the applicant has lived. If possible, conduct national background checks as opposed to limiting to state.

    * Thoroughly discuss your lease agreement and your expectations with the tenant before signing a lease. If the tenant does not agree with your requirements, perhaps it is better to consider renting to a different tenant. 

If you have any questions e-mail us at info@credasys.com or call 714.828.5769