5 Ways Tenant Screening Helps - Park City Property Management
Properly screening a potential tenant is not an option, it is a necessity in Park City property management. You can get a pretty good feel for the type of person you are renting to during a tour or other face-to-face meeting but past behavior can be a very accurate predictor of future performance. I've put together a list of 5 ways in which screening a prospective tenant can save you from major headaches and lost money. I think these are great tips for Park City property management that will help landlords make informed decisions when renting their properties.
1. Pets
I my experience as a property manager I have never had a prospective tenant say to me "My dog is not house broken at all. It chews on anything and will use every corner of the condo as a bathroom." Even if this is actually true unfortunately no one will ever admit it. Every potential tenant with a pet tells me they are well behaved, never goes potty inside, etc. Based on that you would think there has never been any damaged caused by a pet in the history of rentals. But we both know this is not true so how can you protect yourself? Requiring potential tenants to provide their previous landlord's contact information is a great way to find out if they had a good pet or a four-legged machine of destruction.
2. Criminal Activity
Properties that are involved in criminal activity suffer in many ways. I have seen doors kicked in during a domestic violence episode. Meth labs can practically ruin a property and cost an owner thousands of dollars in repair. Multiple police visits are a serious detractor for any property and can cause neighbors to want to move out of the area. Other types of illegal drug use can also bring dangerous or unsavory individuals into a community. Things like burglary and arson can also create major damage costing landlords significant amounts for repair and lost rents. While people can always change any type of criminal history should be a cause for concern to a landlord in Park City property management. Protect yourself by running a credit and criminal background check on prospective tenants.
3. Late Payments
One of the most frustrating and time consuming aspects of being a landlord is chasing down a late rent payment. Making phone calls, posting notices, tracking down shifty tenants and dealing with bounced checks can make things difficult in a hurry. The last thing you want is a tenant who is habitually late on their rent payments. By checking with their previous landlord you can get an idea of how on time they are with payments, if they ever had any checks bounce, or if they are always calling at the first of the month to work out a deal and pay late. Some people go through rough patches but if this is a consistent thing you should stay away from these potential tenants.
4. Breaking The Lease
If you find out, either from the potential tenant or their previous landlord, that the previous lease was broken then you should take a good look at the situation. I have rented to tenants who have broken their prior lease and it is not something that should outright disqualify someone. The circumstances surrounding the breaking of the lease are important. I have rented to people who broke a lease due to job transfer, a previous landlord not maintaining or properly fixing things, and even a tenant who was told they could have a dog by the landlord when the HOA did not allow tenants to have pets!
5. Property Maintenance
If your rental property has certain maintenance obligations, like changing air filters or keeping the water softener full of salt, you need a tenant who has a history of doing these things. Clogged air filters and non-functioning water softeners can put unnecessary wear and tear on expensive items like water heaters and furnaces. Having a responsible tenant is an important part of Park City property management.
If you would like more information about tenant screening, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
