When most investment property owners buy real estate, they're interested in things like the passive monthly income from tenants in Virginia Beach.
It's worth noting, though, that the dream of owning a rental property can become a nightmare if you end up with bad tenants. If tenants don't pay rent, damage your property, or cause trouble, you'll have trouble on your hands.
That's one reason to screen would-be tenants before getting them to sign leases and handing them the keys.
Keep reading to learn how to find the best tenant screening services to get quality tenants in your rental units.
Find a Service Provider With an Extensive Process
When seeking tenant screening services, the first thing you need to do is find a service provider that has a thorough process in place.
Ask the service provider whether they ask would-be tenants to fill out formal rental applications. If they don't, walk away and find another service provider.
As part of a formal screening process, applicants should provide information such as the following:
- Contact details
- Current address
- Work history
- Salary details
- Contact data for current landlords
In addition to the abovementioned, applicants should be asked to give the service provider permission to conduct background and credit checks. Do landlords speak well of applicants? Do applicants have good credit scores?
It's vital to have a process in place to get this sort of information since it can help you find the types of tenants you want in your Virginia Beach real estate.
Find Service Provider That Requires Compliance From Applicants
You also need a service provider that won't allow applicants to pick and choose what parts of the screening process they'll participate in. For a successful screening process, all would-be tenants must comply with the process.
Otherwise, applicants who aren't a good fit might end up in your rentals in Virginia Beach. You'll want to avoid those sorts of headaches, and you will if you hire a service provider that requires strict compliance with the process.
A reputable service provider will also ensure that the process doesn't run afoul of any regulations.
Find a Service Provider That Can Help You Choose
After conducting the screening process, you'll want recommendations on which applicants you should accept and which applicants you should deny. The choice will be yours, but getting feedback will make the decision process easier.
You'll want to avoid making decisions based on criteria that could land you in hot water. Getting counsel from a service provider, such as a property management firm, will help you make informed decisions about tenants.
Need Tenant Screening Assistance?
If you're looking for tenants, you need a reputable provider of screening services. That's the only way to increase the odds of finding quality tenants for your rentals.
When looking for screening services, consider property managers like PMI Virginia. We offer a wide range of services for rental property owners -- and one of them is tenant screening. Get in touch to see how we can help.