Having the best tenants is every landlord’s dream. Waking up to zero phone calls from tenants due to loud noise and disturbance in the middle of the night from a new tenant is an incredible experience. How can I get such tenants? Well, screening tenants can be one of the best options to start with. Running background checks, credit reports while scrutinizing their application letters might be a good idea. Though it seems easy and a one-person job, hiring an experienced property manager such as Leaf Management will ensure a more thorough process.
While conducting the process all by yourself may seem cost-effective, the repercussions you may endure afterwards may not be worth the hassle. Dealing with damage to property, evictions, late rent payment may be a huge burden for you. Therefore, below are some of the best benefits you’ll enjoy by hiring property managers to get the job done.
1. High-Quality Tenants
Quality tenants are ideal for any landlord. Quality here refers to; timely rent payment, minimal damage (if any), fewer problems, and negligible disturbances.
Property Managers conduct oral or phone interviews to get a clear picture of the tenants. Since not all personality traits are written in the application, conducting an interview might bring out a thing or two that you didn’t know about the tenant. They will later add the details gathered in the screening report for the property owner to evaluate, leading to quality tenants.
2. Access to Accurate Tenant Information
Getting a better view of your tenants is also another crucial step in screening. Having to dig into every piece of facts of the renter can easily be stressful. In this case, hiring property managers, who will go an extra mile than what the application letter says, might come in handy. Experienced property managers dig into facts while screening such tenants. Analyzing every crucial piece of information a step at a time to find whether the application is valid; the FBI- style. Doing in-depth checks on criminal records, public records (legal battles), or even evictions while comprehensive credit card reports assessment determines the tenant’s financial situation to avoid evictions later on due to late or failure in rent payments.
3. Shielding Yourself from Lawsuits and Rental Scams
Lawsuits against landlords are continually rising. They are mainly based on discrimination, ranging from sex to race or even religions. These discriminations may be illegal by the county or state laws. Having property managers do the screening process for you can save you from breaking the law or even unnecessary fines if the tenants decide to file a lawsuit. Property managers are equipped and are conversant with the landlords and tenancy Act, hence handling the matter with ease and professionalism.
On the other hand, Rental scams come in various ways, but the common one is the faking of references. While doing a background check, references from previous landlords are vital, and some potential tenants tend to fake such concerns to hide a bad reputation. Therefore, property managers deal with all the lawsuits and rental scams if they emerge and shield the property owner’s image and reputation.
4. Less Future Eviction
Unreasonable tenants may recklessly treat your hard-earned property, and you end up evicting them. These evictions can be considerably costly – in terms of property damage, loss of rent, or even litigation battles to get the eviction notices. Hiring professional property managers can quickly help you avoid all these unnecessary fracases.
It’s pretty straightforward to see the importance of Property managers while conducting screening to tenants in the long run. It’s convenient and time-saving and gives detailed information about the tenants while shielding property owners from expensive lawsuits.
Are you looking for that property manager to conduct tenant screening for you? Leaf Management got you covered. We rehab, manage, and funds residential projects for contractors and real estate investors in the Boston area. Contact us today to learn more about how to conduct state-of-the-art tenant screening.