If you are a landlord or a property manager, it is your desire and also the aim to have all the units in your property occupied by tenants. At the same time, you cannot allow every single applicant to move in because of the risks involved to your property and business from bad quality tenants. This is the reason why you need a robust tenant screening system in place to make sure that only good quality tenants are allowed to live inside your property. In fact, there are many reasons to deploy this property management system and you will feel that money time and effort involved with a tenant screening system is fully justified. It is better to have one rather than face all the monetary and legal troubles caused by a bad quality tenant.
It ensures timely rent payment
Rental income property is your business and you meet all operational expenses through rent collected from your tenants. You can suffer monetary losses and face difficulty in maintaining positive cash flow if bad quality tenants get inside your property. This is where a sound tenant screening system comes to your rescue. It allows you to go through the credit report of the applicant besides taking a look at his employment track record. You can reject the application of a potential renter if you feel he is not trustworthy based upon his repayment history to his creditors. Tenant screening system allows you to give entry only to those applicants who are highly likely to pay their rent on time month after month. You can easily weed out applications that have faced evictions in the past or been involved in disputes on account of nonpayment of rent.
It helps in protecting your property
You might wonder how a tenant screening system helps in preventing damage to your property, but it is true. But you would agree after hearing horrific accounts of landlords who have suffered damages to their property by bad quality tenants. There are all sorts of tenants and bad quality tenants can even damage your property intentionally or through ignorance. Many landlords have had to spend thousands of dollars on costly repairs of their properties after getting rid of such bad quality tenants. A tenant screening system makes sure that only those applicants who have a great rental history can get inside your property. It allows you to ask for references from past landlords to check whether they have been good tenants or not. You can also request phone numbers of past landlords to talk to them about these applicants and their behavior during their tenancy in their properties. By checking the background of your applications, you can find out if they have been involved in any criminal activity or not. If you do not have a tenant screening system in place, it is very much possible to give entry to people having criminal background. This can have serious repercussions for you if such people start criminal activities in your property later.
It gives you complete peace of mind
By allowing bad quality tenants in your property, you are exposing not just your property but also your mind to lots of stress. By knowing everything about your potential tenants, you get total peace of mind as you know your tenants will pay their monthly rent on time. You also know that they will behave nicely and take care of your property. Peace of mind related to tenants and property allows you to focus upon more productive activities and you can take your business to new heights of success. You know that you will not face monetary losses and legal troubles from tenants if you have a proper tenant screening system in place.
Property Management Service Areas