Imagine a small mistake from five years ago affecting you constantly today. For many tenants, this problem is a reality. Many tenant screening reports are outdated, displaying old, long-resolved issues.
About 90% of landlords rely on these inaccurate reports. Instead, consider outsourcing your tenant screening process.
A Tracy, CA property management company can ensure better accuracy. On the fence? Read on to discover the benefits of outsourcing this process!
Get a Detailed Tenant Background Check
Many landlords rush to complete tenant background checks. They're more interested in a tenant's ability to pay rent.
Other reports only provide a "thumbs up" or "thumbs down" recommendation. You may not find out a tenant has a criminal record or eviction history until later.
Instead of relying on these fast and easy DIY reports, outsource. A property management company will gather more comprehensive information. These reports can include:
- Employment verification
- A tenant credit check
- Tenant references
- Rental histories
- Eviction histories
These comprehensive reports can give you a full picture of each applicant. You can make a more informed choice when choosing renters.
Otherwise, you may receive complaints from tenants. The Consumer Financial Protection Bureau received over 26,700 complaints. About 65% of these were related to inaccuracies.
Inaccurate reports can lead you to reject applicants. You may struggle to find a tenant. Your investment property will remain vacant, costing you potential income.
Save Time
Completing a thorough tenant background check can take days. If you have multiple properties, the process could take weeks.
The longer it takes to screen applicants, the longer the property will sit vacant. If you cut corners, however, you could select troublesome renters.
Outsourcing this process will save you valuable time. Your property manager will have access to professional tools and resources. They'll have an efficient process in place to minimize delays.
They won't take shortcuts for the sake of getting the job done quickly. Instead, they'll make sure it's done right. You can select reliable tenants and avoid headaches later.
Cut Tenant Screening Costs
Gathering detailed tenant background checks can become costly. If you own multiple properties, the costs will stack up. Save money by outsourcing.
Your property manager can review multiple applicants at a fraction of the cost you would. That's money you can dedicate to property maintenance or marketing instead.
A property management company can help you save more money later. Finding great tenants now could boost your lease renewal rate. You can retain these renters to avoid costly vacancies.
Remain Compliant
If you're a new landlord, you may struggle to adhere to landlord-tenant and anti-discrimination laws. Outsourcing will ensure you remain compliant. You can avoid fines, lawsuits, and other legal consequences.
Fill Vacancies
The best property management company will pair tenant screening services with marketing services. They'll help you find great tenants quickly.
Relying on these services will ensure you fill vacancies. Your occupancy rate will improve, leading to a higher ROI.
Invest in Tenant Screening Services
Don't waste time or money screening applicants alone. Instead, outsource. Rely on professional tenant screening services to maximize your efficiency.
Our team at HBR Rentals offers world-class property management. We provide affordable services without compromising quality.
Rely on our extensive knowledge and proven systems. Contact us today to discover how we can increase your profits!
