How a Residential Property Management Company Finds the Best Tenants
If you’ve ever owned a rental property, you know that the quality of your tenants can make or break the experience. Ideally, every tenant would pay rent on time, keep the home clean, and never break anything. Unfortunately, that is not always the case. In addition to handling maintenance requests, lease agreements, and rent collection, finding the right tenant is just one more thing to handle as a landlord. Filling a vacancy with the right renter can be a long, tedious process that takes away from other priorities in your life. With an experienced rental property management company, finding the ideal tenant is one less thing for you to worry about. At Wolfnest, we have a tried and true method of finding the perfect candidate for your vacant rental to ensure that you get paid on time, the unit stays in great shape, and you can have peace of mind.
Benefits of Hiring a Rental Property Management Company
So, what can you do to ensure that your property is only rented to quality tenants? Hiring a good property management company can help eliminate the risk of renting to a bad tenant. Many homeowners don’t see the value in paying someone to do a job that they believe they could do themselves. The truth is, if a property management company can help an owner avoid entering into an agreement with a bad tenant, they are worth every penny you pay them. So, how will a residential property management company find you a quality tenant? Let’s breakdown how Wolfnest screens potential tenants to find quality renters for your property.
How to Screen Potential Tenants
The most important part of finding the best tenant is in the screening process. By checking key elements, we find the right renter from the very beginning. At Wolfnest, we start with three different types of screenings to get a wide range of information from the very beginning.
1. Background Check
This is common amongst almost all property management companies, as any good property manager should perform a thorough background check on anyone that is interested in renting your property. This will help you identify anyone that is a convicted criminal and keep your other tenants safe. However, it’s important to note that property managers may still lease to someone with a criminal history due to considerations such as the nature of the crime, rehabilitation efforts and the age of the individual at the time of the offense. Your property manager will always keep you in the loop so these exceptions aren’t surprising.
2. Credit Check
Reviewing a potential tenant’s credit report is one of the most important actions to take before entering into a lease agreement. If a potential tenant has a poor credit score and past issues paying their bills on time, you may not want to rent to them. Our experienced property managers run credit checks on every potential renter to ensure that you always have an ideal candidate.
3. Landlord References
It is always prudent to follow up with a potential tenant’s past landlords to determine if they had any issue with other properties they have rented. If the tenant broke belongings in the previous unit, you may be hesitant to rent to this person for fear that they may destroy your property. At Wolfnest, our team reaches out to all references of the potential tenant to learn about their past renting history and to protect your property.
When it comes to screening tenants, this is just the beginning. We take pride in finding you the right renter for your unit. By taking these extra precautions, we keep your rental in good shape, ensure you get rent on time, and help to avoid an eviction.
Wolfnest is Your Residential Property Management Company
No one can ever guarantee that a tenant will be good or bad, but you can take steps to reduce the risk of renting to a bad tenant. As your residential property management company, we make finding the right tenants easier than ever. We do the hard work so you can reap the rewards of renting to a good tenant. Through background, credit, and referral checks, our team finds you the right candidate from the very beginning so you have one less thing to worry about. Whether you have a single-family or multi-family rental, we are experienced in all types of properties and are here to help. To learn more about the steps we take to find you a qualified tenant, contact us today to download our free owner information packet!