How to Conduct a Tenant Screening: A Guide

How to Conduct a Tenant Screening: A Guide

Every year, about three million Americans face eviction from rental properties. Many people overlook the stress this puts on a landlord.

Evicting tenants takes time and money while causing emotional distress in many cases. Sometimes, landlords lose big money and get left with damaged property.

Rather than shy away from a great way to make passive income, take steps to ensure your renters don't put you in this position. Keep reading to learn how to conduct a Nashville, TN tenant screening.

Set Financial Criteria

You must create clear financial criteria that people must meet in order to rent the house. Good people can end up in a bad position when they end up renting a home that they want but cannot afford.

Setting an income standard that ensures they can pay rent along with other bills in Nashville, TN does both you and your tenant a favor. Run a rental analysis first to see what your property will rent for. Then make sure their income far exceeds this number.

Credit history lets you know how well they managed money in the past. You don't necessarily need to expect perfect credit, but do keep away people who do not seem to pay their bills.

Ask for proof before showing them the property. This saves time and avoids uncomfortable confrontations.

Create an Application

Write out an application to draw in Nashville applicants. This will help you narrow down people.

Ask specific questions to make sure they meet all of your criteria. They should be able to back up all claims with proof.

The application process itself takes time and energy. Charge a fee to all applicants.

This offers you some compensation for the work you are putting into while considering each applicant. It also helps ensure that you only deal with serious inquiries 

As for Identification and References

Ask all potential renters for proper identification. Do not waste your time with people who cannot show you a state-issued ID during their tenant screen.

Knowing who wants to move into your property helps to protect you and the people living in that neighborhood. They should submit this with their rental application.

Once they prove their identity, learn more about who they are. Ask for several references that you may contact.

Actually call their references. Ask important questions about character, responsibility, and more.

Run a Background Check

Anybody can fake their personality for a few minutes. Some can even get others to twist truths for them.

But, nobody can hide a criminal record. Run a thorough background check on each adult that would live in the home.

This will help you prevent dangerous people from moving in. It can also protect you financially, as somebody with a long record may repeat an offense and leave you stuck for payments.

Property Management Does Tenant Screening

Does tenant screening seem too overwhelming?

This process is a lot, especially when you rent out multiple properties. Hire a property management team to help!

We strive to make renting easy for everybody. Contact us to see how we can help!

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