Tenant Screenings: Why Are They Required?
The perfect tenant exists, but so does the worst tenant. As a landlord when you own a property it's crucial to find a tenant who is considerate, reliable and financially responsible. While it's not possible to sit around and wait for the ideal tenant, it's also not worth the hassle of dealing with a troublesome tenant. In an effort to avoid situations with terrible tenants, landlords conduct thorough screenings of rental applicants. Here are a few reasons why tenant screening is important and how it works.
Can They Pay?
One of the most important questions that a landlord needs to know is whether or not the tenant can pay their rent on time. Keeping up and tracking tenant payments is exhausting, so it's beneficial to be aware of their financial situation from the start.
Background screenings allow the landlord to see if a person is responsible with their money. For example, someone with credit card debt could be a sign that they struggle with keeping up with their regular payments. Whereas if you find someone who is able to pay all their bills on time, they are more reliable and trustworthy. Some landlords don't feel the need to look at the bank statement, instead they just check the credit score.
Protect the Property as Well as Other Tenants
A credit report is not the only thing that a landlord might check. Oftentimes a background screening will give them all the information they need in the case of a criminal history. When looking at a potential tenant’s criminal record, they may just focus on things that are actually a deal breaker and not minor traffic violations and such. They may also review these violations with the tenant for clarification.
A criminal background check allows a landlord to understand the character of their prospective tenant, and they also get to understand other parts like education and proof of employment.
Prevent Eviction
Evicting a tenant is an expensive and lengthy process that landlords do not want to deal with unless they have to. It usually costs $2500 to $3500 to evict a tenant and can take a few weeks or more. So most will check if potential tenants have had an eviction history that can help them avoid any future evictions.
Peace Of Mind
The most important aspect of background checks and credit checks is to make sure that the landlord understands who they are about to rent to and whether or not they will be able to handle the responsibility of the rental.
If you have questions on our application process, or how to begin applying for houses, contact us today!
Buckeye Northwest Realty provides houses for rent in Toledo, Ohio and the surrounding areas. To learn more about houses for rent, contact us today!
