PHOENIX PROPERTY MANAGEMENT TENANT VETTING PROCESS
There are three parts when it comes to investing in Phoenix Real Estate
- Purchase the investment
- Upgrade the investment
- Landlord-Tenant Relationship
I have to say that #3 is the most important in the whole process. The landlord-tenant relationship is very much under rated in my opinion. I know at Real Estate and Beyond, LLC, we very much take this very seriously. We go beyond the normal property management duties to ensure we have happy tenants. It has been my experience that tenants want someone who will listen, respond and be fair with each request. Again, we are dealing with human beings.
How does one obtain a great tenant? We are constantly obtaining new tenants each month. Many investors ask me how we separate the good ones vs. the bad ones. That is a great question.
We vet each tenant.
Definition of VETTING: to investigate (someone) thoroughly to see if they should be approved or accepted for a house or apartment
Steps involved in vetting a potential TENANT:
- Filling out a detailed online application
- Obtain two personal references
- Credit background check
- Criminal background check
- Copy of one month pay stubs
- Confirm they work at their company
- Call previous landlord
- Verify drivers license and birth certificate or passport
- Always meet tenants in person
- Always have tenants bring cashier check or money order at signing NO CHECKS!
Many of our past tenants like to rent with us because they are treated well. I have to be honest that most of my problems come when taking on new management with preexisting tenant in place. They either follow the lease or we will need to remove them. We take the landlord-tenant relationship seriously at Real Estate and Beyond, LLC.
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