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Archive for August 6th, 2009

Tenant Screening

Thursday, August 6th, 2009

Finding a good tenant is indeed a very tough task, primarily because, it is hard to find people, who would take care of your home, the same way, as you would expect them to do. Quite often, you might have a tenant, who would take great care to diminish the value of your property, by drilling holes in the walls, scratching up the wood work and sometimes cause grave damage to your property.

Although you may have the security deposit of the tenant, but if you do not take proper care, you might end up paying out of your pocket, to refurnish the damage caused to your property by the tenant. Finding a good tenant therefore, should be of great concern for you, for the proper upkeep of your property.

Like always, good and bad people exist in every field; and so is it in case of tenant. Although good tenants, may not come by too often; they do exist. Proper screening of a tenant can help you find a good tenant for your rental property. The following are some of the ways, by which you can conduct screening of your prospective tenant, to see whether he is suitable enough or not:

1. Personal interviews

By way of conducting personal interviews, you can have a bit of idea, to figure out the suitability of a tenant. If you are good at reading thoughts, you can get a fair deal of idea. A novel way, to conduct a screening test, is by way of psychological tests, which can give a fair deal of idea, whether or not; a guy is of vandalistic nature. Although such tests can not be said to be the ultimate screening technique; they surely do come up with fairly accurate results.

2. Talk to previous landlords of the tenant

This is another way of screening a tenant. As it is, you can personally meet (if possible) to the previous landlord of the tenant and figure out about the suitability of the tenant. While it may appear to be a stupendous task, it would definitely give you a fair deal of idea about the client.

3. Hiring professional screening services

A major advantage of hiring professional screening services is that they gather information from a wide range of sources. These sources may range from court records, police blotters, credit bureaus, and so on. Needless to say, that the more varied the information, the higher the accuracy level. However, in their zeal and the mode of collecting information, screening services may quite often brand good tenants as bad tenants. But this is quite rare.

Finding a good tenant is more or less of a necessity for a rental property investor. Proper screening helps a lot in taking care of this necessity. You may take help of the above mentioned methods, to, conduct proper screening of your prospective client, to come across a suitable tenant.