How to Identify the Best Tenant

By
Services for Real Estate Pros with RentPrep Tenant Screening

If you want to get the best tenant, this process has to start from tenant screening

Start by asking the right questions first. Examples of the right questions to ask include:

  • What is contained on their background check?
  • How do I choose which tenant screening company to hire?

Tenant Background Checks

What is the goal of such an exercise? The goal is to obtain as much information on the tenant as you can. This is something which you can do on your own, or alternatively, you may decide to hire the services of a firm which specializes on tenant screening. There are many reasons why I would recommend hiring a firm instead of making this a Do-It-Yourself activity. This is a process which can be quite time consuming if you were to do it on your own. 

Benefits to Using a Screening Company

You can be sure that a tenant screening firm will gain relatively easy access to financial records, and eviction as well as criminal history of the tenant you. This is information which you will definitely need in order to make the best decision. This sort of information is something you will struggle to come across hence consume too much of your time thus interfering with your decision making process. 

Why You Have to Select the Right Tenant Screening Packages

You don’t need a lot of money to afford screening packages which provide you with the basic information. Some packages can provide you with this information at the cost of roughly $16.95, and the benefits are certainly worth this relatively small investment. The following is a list of the information you need to get your hands on to before making a decision as to whether to rent or deny them tenancy.

• Search involving the tenant’s bankruptcies, judgments & liens 

• A full search touching on Nationwide Eviction History 

• A full search regarding Nationwide Criminal & Sex Offender 

• Making calls to all the Current & Previous Landlords

• Making calls to verify Employment details

You can always obtain valuable information through making calls to the current and previous landlord, which you wouldn’t find anywhere else, including on the credit report. The credit report would not contain noise complaints. It would be quite embarrassing for tenants reporting the new addition to police for organizing loud parties or getting involved in constant arguments and conflicts. 

If you want to get more information regarding the condition of the property, you are better off talking with the tenant’s previous landlord instead of the current one. Issues you need to focus on include where there was damage which was beyond what is the result of normal wear and tear. Make inquiries on whether the tenant received the deposit back in full or not. If they live with animals, even if these are only dogs and cats, you should obtain relevant information. It is important to ask whether the tenant ever delayed paying rent, or made partial payments. 

How Do I Select the Right Tenant Screening Company

These are a few things you need to look for when selecting a tenant screening company: 

Price

Why should you hire a company which charges more than the application fee of $25.00 which you do to your tenants? Look for the right package pricing

The Correct Solution

Work with companies whose services are geared more towards property managers and landlords and keep off from those which love corporate clients. 

Customer Service

Try to make a call to the tenant screening company you want to hire and see if anyone will pick the call. When they pick up, or if they do, ask them a very simple question and evaluate the quality of their answer. RentPrep is a real tenant screening company, which is staffed with FCRA Screeners to handle all your calls professionally. If you don’t believe us, why don’t you try us (during business hours of course) by calling 1-888-877-8501? 

Avoid Memberships

Memberships are not good. Try to look for “pay as you go” systems if you want to avoid paying monthly minimum or membership fees. You don’t have to pay a “sign up fee” either.

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Author Bio

Stephen is the co-founder and CEO of RentPrep, which provides tenant screening, background, and credit checks to landlords, property managers, and real estate professionals.

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Rainer
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Tom Jansson
Acuity Home Inspections - Chicago, IL
Chicago Area Home Inspector - InterNACHI Certified

Hello Stephen, and welcome to Active Rain!  Thank you for your informative post.  I look forward to hearing more in the future!

Aug 19, 2013 06:53 AM #1
Rainmaker
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Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

 

Welcome to ActivrRain.  Thanks for these informative tips regarding identifying  tenants-  This is something to share with new multifam homeowner who are new to the process of working with tenants.

Aug 19, 2013 06:56 AM #2
Rainmaker
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Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Stephen, welcome to Active Rain. Thanks for providing such an informative post on your first attempt. Hopefully you will achieve a lot of success through the Rain.

Aug 19, 2013 09:14 AM #3
Ambassador
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Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Welcome to Activerain and I hope you are learning a lot and if you ever need any assistance, don't hesitate to check out my blog, email me, call me, I will be glad to help you in any way possible. Also, check out the main page of Activerain and look for the Activerain University tab, there are lots of educational webinars to help you build your business.

Aug 19, 2013 03:09 PM #4
Rainmaker
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Ken's Home Team LLC. | 360.609.0226 | Portland, OR & Vancouver, WA Real Estate Team
Ken's Home Team LLC. - Vancouver, WA
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Welcome to Activerain from from all of us at Ken's Home Team. I think you will find this site to be a wealth of knowledge and referrals. This really is the best real estate blogging and real estate network on the internet. If you have any questions about Activerain, reach out to the wonderful Ambassadors here in the rain. (They are a wealth of knowledge and were picked by the Activerain staff for their willingness to help others

Aug 19, 2013 03:13 PM #5
Rainer
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Stephen White
RentPrep Tenant Screening - West Seneca, NY
Stephen White

Thanks for the warm welcome guys.

Cant wait to get my feet wet in the "Rain"!

Aug 20, 2013 12:27 AM #6
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