Can you believe that as many as 40 million Americans move every year?
Since a large portion of the population rents, this means that rental property owners have plenty of opportunities to fill any vacancies. If you want to earn as much money from your rental property, then accepting the best applications will work wonders for your business.
Would you like to know how to find tenants who will make your job as simple as possible? Read on to gather our top tips on tenant screening in Utah.
Start With a Tenant Background Check
Finding tenants who don't have a criminal history should be your top priority. You'd never want any illegal activity to occur on your rental property.
Conducting background checks will give you and your other tenants peace of mind since you'll be building a safe community for everyone.
Take a Look at Their Income
Another important step in screening tenants is asking for proof of income. This can come in the form of pay stubs, tax forms, bank statements, and more.
Income information verifies that an applicant will be able to keep up with rent payments each month. You can think of this task as an insurance policy since you'll minimize your risk of losing lots of income.
Don't Forget About Their Credit Score
Some rental property owners think that proof of income is enough. You need to also check their credit score as well to ensure that the applicant is responsible with the money they earn.
It's possible that an applicant could pay rent in theory, but they won't if they're buried in debt.
It's Worth Contacting References
It's difficult to gauge someone's character if you only have the chance to chat for a few minutes. Some rental property owners view reference collections as a formality, but you shouldn't miss the chance to call them.
Employers and other important figures can confirm that your applicant is a reliable person.
Looking at Rental History Can Be Enlightening
Rental property owners earn the most money when their tenants keep renewing their leases. A clever way that you can increase your chances of lease renewals is to review applicants' rental histories.
If an applicant shows a pattern of changing addresses often, then you may want to pass on them.
Make the Job Effortless With Property Management Services
There's a lot of pressure when it comes to finding the perfect tenants. If you want to have the confidence that your rental property is in good hands, then you should hire a property management company.
They'll be able to screen your tenants and even take care of other tasks.
Would You Like Help With Tenant Screening?
Rental property owners should never rush the tenant screening process. Using this advice will allow you to find the finest renters in your area.
Do you own a rental property in the Salt Lake City area? Contact us to hear more about our property management services.
