America is a nation of renters: 44 million households in the United States rent their primary residences, rather than owning. The explanations for renting can range from simple preference to lack of affordable houses in their areas.
If you have a property in Kansas City, KS, there's no doubt it will be a hot commodity when it goes up for rent. So, how do you accomplish accurate tenant screening? Here are some key factors to consider.
Filter Tenant Applications
Depending on factors such as price, location, and availability, you may receive dozens or even hundreds of tenant applications. You will need to filter them, and the best way to do that is through property management software or using a property management company.
For instance, you can require that the prospective tenants make a minimum amount every month so you know they can afford the rent. If you don't allow pets, other than service animals, you can filter out those applications as well.
Tenant Screening Costs
Screening your tenants can be a costly endeavor if you don't know how to do it effectively. This is where a property management company comes in. They can do all the heavy lifting, so you don't have to waste time and money with your tenant screening process.
Property management companies often have their own tenant screening software, so they can use it when you hire them to conduct your tenant screening.
Tenant References
Another huge factor of tenant screening is evaluating their references. Sometimes, people want to hide their checkered past. They will put fake names down and give phone numbers of their friends or families to pose as a former landlord or employer.
A property management company can take the extra step of researching and doing background checks on potential tenants. Things like criminal records, evictions, and debts are something you want to avoid when you search for new tenants.
If you're screening the references yourself, you can do things like cross-check the contact information provided and ask the references for specific details about the applicant.
Use Property Management Software
Property management software can do the heavy lifting for you, even when it comes to the tenant screening process. Once you find your ideal tenants, you can even use tools like a tenant portal to make rent collection and maintenance requests easier.
Even if you don't completely outsource your tenant screening, the property management software can make a world of difference. You can have all of your documents, contact information, and payment processes in one streamlined location.
Outsource Your Tenant Screening Today
If you're worried about your tenant screening, you should not have to stress about it. With this guide, you can ultimately make the best decision for your tenant screening process.
Are you looking for a property management solution in Kansas City, KS? The search is over. PMI Station offers full-service property management and brokerage services in the Kansas City area.
Contact us today so we can help you with your property management needs.
