Are you wasting time screening every applicant while trying to find tenants for your rental property? About 90% of landlords use tenant screening reports when reviewing a renter's history. However, most of these reports are oversimplified.
Instead of choosing the do-it-yourself route, outsource. Working with a property management company can save you time and money.
Not convinced you need help from a property manager? Read on to discover the benefits of outsourcing today!
Detailed Background Reports
Most do-it-yourself tenant screening reports only provide a "thumbs up" or "thumbs down" recommendation. They don't provide details on why an applicant is an ideal choice. Your property manager, on the other hand, will leave no stone unturned.
They'll collect comprehensive reports, including:
- Eviction histories
- Credit scores
- References
- Criminal background checks
- Employment verification
Some landlords prioritize a renter's ability to pay rent. However, tenants who pay on time can still damage your property. They may have a long history of troublesome behavior behind them.
Selecting these renters can add to your landlord stress. Working with a property manager will ensure you make an informed choice.
Save Valuable Time
Gathering comprehensive applicant screening reports can take hours. If you have multiple applicants, it could take days. Every day you don't choose a renter is a day your rental property sits empty.
You'll start losing rental income. Working with a property management company will save you time.
The best property managers already have effective, efficient screening processes in place. They'll know what to look for when screening applicants.
With their services, you can find a new tenant without delay. You can fill vacancies and boost your ROI.
Avoid Compliance Issues
Rushing to fill a vacant rental property could lead to legal trouble. You could encounter a discrimination lawsuit if you're avoiding certain applicants. Hiring a property management company will reduce your risk of a lawsuit.
Allowing a third party to step in will give you peace of mind. You can adhere to landlord-tenant laws and remain in compliance.
Choose a property management company with years of local experience. Rely on their expertise to navigate these legal situations.
Generate More Passive Income
The rental vacancy rate in the US is over 6%. If you have multiple vacant properties, you won't maximize your earning potential. Remember, failing to screen tenants efficiently can lead to delays.
The best property management companies offer marketing services. They'll attract more applicants to your online listings. As you generate more applicants, you'll have your pick of tenants.
Increasing your tenant pool can lead to a higher occupancy rate. You'll generate more passive income without the stress of long-term vacancies.
Outsource Your Tenant Screening Process
Don't waste time screening rental applicants on your own. Instead, outsource your tenant screening process. Hire a property manager to save time and money while avoiding stressful situations.
Look no further for help than Wheeler & Associates Property Management. Our team has over 50 years of experience as leaders in the local real estate market.
We reduce risks for owners while eliminating the stress of having investment properties. Rely on our experience and expertise to maximize your earning potential. Contact us today to request our tenant screening services.
