Tenant Screening Factors
Many landlords and property managers concentrate on the renter’s credit scores when screening a potential tenant. But there are reliable tenant screening factors that can clearly indicate a tenant’s value better than a credit score.
In this blog, we look at important and accurate tenant screening factors to consider as a landlord. Dig deeper and make an accurate assessment of a prospective tenant by looking for these qualities.
A good renter is one who is open and honest. Look for people who can share everything with you whether it is a good or bad. An honest tenant will make it easier for you to work together and find the best housing options that fit their needs.
Look for consistency in what a potential tenant says or does. You can determine a renter’s consistency by asking questions such as:
Did the renter show up on time for the property tour? Did they fill out the application when they said they would? Does the potential tenant’s credit score reveal they’re able to pay their debts on time? If you spot any form of inconsistency such as backpedaling, pauses, hesitation or unreasonable excuses, it would be wise to pass on the applicant.
You should be able to verify everything a prospective tenant tells you. For example, if they say they’re moving for employment reasons, ask for an offer letter from their employer. Conduct a thorough verification by looking into their references including the renter’s supervisors, previous landlords, and other public figures.
It is imperative that you exercise patience with the potential tenant you’re interviewing. Do not rush into a deal, as this might prove costly in the long run. Take your time to assess the supporting documents provided by the tenant and if you can’t verify the information, feel free to deny tenancy.