Screening a tenant is a great tool for all landlords and property owners. It gives you a snapshot of a potential tenant. With the information provided you can now make a better decision on if you would like to take them on as a tenant. The Benefits of Screening a Tenant
2. Screening Tenants
The profitability of a commercial real estate largely depends
on how property managers attract the right tenants.
A good tenant for a commercial real estate not
only ensures stable financial returns but also
adds value to the property itself. However,
finding a good tenant requires a dedicated
screening process.
A tenant screening is a process used primarily by residential landlords and
property managers to evaluate prospective tenants. The purpose is to assess the
likelihood the tenant will fulfill the terms of the lease or rental agreement and will
also take great care of the rental property in question. Screening a Tenant
3. Here are a few problems the property owners might face
due to negligence towards tenant screening are
Financial risk
The primary threat to a commercial real estate is the irregularity in
rental payment. An inflexible screening of prospective tenants demands
the assurance of financial regularity from the tenants; which might be
absent in the case of a lapsed screening.
If you’re a property owner or landlord we hope
that you are screening any potential tenant. In
this PowerPoint we will show you why
screening a tenant is so important and give
you information about tenant screenings. The
Importance of Screening Tenants
4. Here are a few problems the property owners might face
due to negligence towards tenant screening are
Loss of reputation
If the case of inadequate tenant screening by any commercial real estate is discussed in the industry, it
might greatly affect the reputation of the property as well as the property owners, which will eventually
result in a loss of credibility with future tenants. This is one of the reasons why reputed real estate
management services like My Tenant Information practice strict screening of tenants before leasing
properties.
Performing a tenant screening is a good idea
and should definitely be performed. Here are
some of the good benefits of screening a
tenant. - If tenants know that you're going to
screen them it can deter tenants that know
they wont pass a tenant screening Tenants
that pass your screening can be more credible
than tenants that don’t Responsible tenants is
one less thing the landlord or property owner
needs to worry about Why Screening a Tenant
is a good Idea
5. Here are a few problems the property owners might face
due to negligence towards tenant screening are
Risk of property damage
An inadequately screened tenant might not be responsible for the maintenance of the real
estate as expected by the property manager. Tenants may take on a casual approach towards
the property they are occupying or they might try to cover up any damage caused by them to
the real estate.
There can be multiple parts to a tenant
screening report. Here are parts that will
usually make up a tenant screening report.
unique number Trace – Run a trace on the
tenant to make sure their name and unique
number match. It will also let you know if they
have gone by any other aliases and other
information. Eviction Search – Has the tenant
been evicted from a previous residence
Criminal Records – You can find out if the
tenant has any type of criminal record Tenant
Credit Score Card – Provides information on
the tenants credit score What Makes Up A
Tenant Screening
6. Here are a few problems the property owners might face
due to negligence towards tenant screening are
Risk of illegal activities
A tenant with concealed criminal intentions might pass through an
incautious screening. Any kind of illegal activities running on the
property premise will definitely harm the property and also possibly
drag the real estate owners into an unwanted legal quagmire.
Violation of Fair Tenancy Laws
If the real estate owners had screened and rejected prior tenants, a
new policy of lenient screening provides the rejected tenants with a
legal basis on which they can file a lawsuit of discrimination. Reputed
property management firms like My Tenant Information always try to
ensure a common process of screening for all tenants, in order to
avoid such situations.
7. Contact us for more information
Connect us through : www.mytenantinformation.com