After a short lull due to the pandemic, eviction rates in the U.S. are spiking again. As you can imagine, this makes things harder for landlords as well.
The best way to avoid this issue is also the simplest one: find better tenants. Unfortunately, tenant screening is a complex process. From background checks to tenant-landlord laws, it's easy to miss a key piece of the puzzle.
Is the solution to outsource your tenant screening process, then? To answer that, let's go over the four main benefits of this approach.
Convenience
A big part of tenant screening consists of conducting background checks. This can be a time-intensive process, as you'll need to:
- Find credit reports
- Pull public records
- Verify references
- Contact employers
- Talk to past landlords
On average, this process may take you a full day to complete. The more properties you manage, the more applications you'll need to go through.
By outsourcing this part of the job to a screening service, you can sidestep this issue. Not only won't you need to lift a finger to do security screening, but you'll get the results in a fraction of the time.
Consistency
Finding the best tenants for your property is all about consistency. This involves being aware of tenant-landlord laws.
For instance, let's say you deny an application because of something that came up on the background check. Applicants may see this as a violation of the Fair Housing Act and attempt to take you to court.
Tenant screening services are aware of these laws and will conduct their checks equitably for all applicants. They'll also look for red flags in applications, helping you avoid problem tenants.
Professionalism
For the tenant screening process to work, it needs to be fair to everyone. If you're a hands-on landlord, this may present a few issues.
For starters, it's quite easy to get attached to renters or potential renters. This is a good thing in a vacuum, but some people will take advantage of it. They may even try to use your relationship to secure a tenancy.
A tenant screening service, however, will have no personal attachment to your applicants. If the renter isn't a good fit, they'll deny them. This is why it's important to get an unbiased opinion when hiring new tenants.
Saved Money
Finally, outsourcing tenant services will save you money. This may seem counterintuitive, but any experienced landlord will tell you it's true.
See, it's all about those credit and background checks. Running them isn't cheap, and you need to do them as part of every tenant evaluation. If you own multiple properties, these costs can get out of control in a hurry.
If you're working with a screening service, you'll be able to get better rates on these checks. You'll also be able to buy them in bulk, which can save you a lot of money down the road by itself.
Outsourcing Tenant Screening
When you add these benefits together, it's clear that outsourcing tenant screening is well worth it. It's a tedious process that requires a lot of knowledge, so it only makes sense to leave it to professionals.
Interested in tenant screening services in Merced, CA? Our experts at Chosen Property Management can help you find tenants that are the perfect fit for your needs! Contact us here to see what we can do for you!
