One of the most critical aspects of managing a rental property is the selection of QUALITY tenants. We know that the selection of a quality tenant is paramount to the success of a portfolio and one wrong selection could cost you thousands of dollars in damages and lost rent.
On average, our team responds to between 75-100 inquiries a day on our rental properties but we know that not all prospective tenants are created equal. We have policies and procedures in place to make sure that we are selecting the best quality tenants for our rentals so that we can eliminate the headaches associated with a substandard tenant. We have noticed that substandard tenants tend to prey on owners who manage their own rentals and who don’t perform the necessary research to properly screen tenants. Some UNQUALIFIED prospects will put on a “show” or tell a fabricated story to pull at the heart strings of an owner so that they can get approved to rent a home.
We’ve seen and heard it all and we know that the best way to qualify a tenant is to do a full screening of the tenants recent rental history, verify income and employment, research criminal history and thoroughly review their credit report.