Finding qualified tenants is one of the most critical parts of managing a successful rental property. Despite this, many landlords still struggle with screening the right way.
A thorough tenant screening process helps you avoid late payments, property damage, and lease violations, but it can also be challenging and complex.
In this blog, we'll explore why you should outsource your tenant screening process.
Why Tenant Screening Matters
Tenant screening isn’t just about running a credit report. It's a multi-step screening process designed to give you the complete picture of a rental applicant.
Including:
Credit report evaluation
Checking criminal records
Employment and income verification
Rental history analysis
Reference checks
It gives you the confidence that the prospective tenant moving into your investment property is qualified, responsible, and financially stable. However, you’re taking on unnecessary risk if you do it improperly.
The Challenges of DIY Screening
If you’re self-managing your rental, you may already know how overwhelming the tenant screening process can be.
Gathering documents, verifying employment, calling past landlords, and interpreting credit reports take time and attention to detail. One oversight can lead to placing a tenant who doesn’t pay rent on time, neglects your property, or has a problematic background.
You’ll also need to evaluate eviction history and criminal history, which are crucial factors in assessing whether a tenant is likely to fulfill their rental obligations. You may risk leasing to renters with a history of unpaid rent or legal issues if you don't conduct thorough background checks or review eviction reports.
Screening tenants properly also involves checking employment history and rental history to ensure the applicant is qualified and capable of managing the rental process.
A tenant with a stable income and a good rental application can make all the difference in your confidence in leasing decisions.
You also need to be cautious about fair housing laws. Improper screening processes, including how you evaluate rental applications or interpret background checks, can lead to legal issues.
Missteps in screening can affect your ability to make fair and confident leasing decisions, potentially exposing you to unwanted legal consequences.
The Benefits of Outsourcing Tenant Screening
Outsourcing your tenant screening process to professional property managers can reduce your stress and risk.
Here are the key benefits:
Expertise: Professionals know exactly what to look for in tenant screening reports, helping to identify potential red flags that inexperienced property owners might overlook.
Compliance: Property managers ensure all screenings are done in compliance with Fair Housing regulations and best practices, keeping you legally protected.
Efficiency: A streamlined screening process means applications are reviewed quickly, reducing property vacancy time and ensuring you're not losing income.
Better Tenants: You’re more likely to attract reliable tenants who pay on time and maintain your property with thorough checks and a consistent screening process.
Let Our Property Managers Handle Screening for You
At Bickerstaff Parham, our tenant screening services are just one part of our full-service management solutions. Whether you own one unit or multiple investment properties, we’re here to help you screen smarter, not harder.
Our online tenant screening process delivers fast, accurate screening reports that analyze everything from rental history to traditional credit scores, giving you the full picture of your prospective tenant.
Ready to save time and lower your risk?
Contact us today or learn more about our property management services.
FAQs About Outsourcing Tenant Screening
1. Is it expensive to outsource tenant screening services?
Not at all. When you work with a property manager, tenant screening is often included in the monthly management fee, making it both affordable and worthwhile.
2. Can I still have a say in who gets approved?
Yes, you can! While the property manager handles the tenant screening process, you’ll always be informed and have the final say before a lease is signed.
3. How long does the online tenant screening take?
Most screening reports are completed within 24–48 hours. The online tenant screening process is fast, efficient, and thorough, ensuring you get the information you need quickly.
