Part of running a successful Roseville rental property is making sure you find a suitable tenant that matches your expectations.
There are several risks to accepting new renters. That’s why it's vital to conduct a proper tenant screening and evaluate each candidate on several factors. You don't want a tenant who will cause property damage or noise complaints.
How to Identify the Best Tenants
You want to ask the following questions as part of your tenant screening process:
- Can the candidate afford the rent?
- Is the potential tenant steadily employed?
- Does the candidate have a good rental payment history?
- Does the prospective renter carry a clean criminal record?
- Is the candidate financially responsible?
Landlords should set clear standards before starting a tenant screening. Outline your criteria and make it a part of your tenant screening procedure to help you land the ideal renter you have in mind for your Roseville rental property.
Conducting a Pre-Screening
A great way to save a ton of time is to conduct a pre-screening for potential tenants. Fully screening each interested candidate can be time-consuming.
When you create an ad, be clear and include relevant information that will allow prospective tenants to decide whether or not your rental property is right for them.
The right questions during an initial conversation with a potential tenant also reveal a lot of information.
Consider the following tips when performing a pre-screening:
- Request a background check authorization. Including this as a requirement in the listing helps you avoid renters that aren’t open to background checks.
- Ask the candidates several questions during the first conversation. Ask them the reason why they’re moving and what the current state of their living conditions are like. Verify the date they plan to move into your Roseville rental property.
- If you welcome pets, ask questions about them. You can also inquire about a prospective renter’s smoking habits, and how many people are going to reside in the unit.
- When conducting a tour of your property with a potential tenant, note if the renter arrived on time. Did they show high engagement by asking a lot of questions? Did they quickly submit the rental application form and the required documents? Were they open to a credit and background check?
Performing a pre-screening allows you to spot future problems. You may also observe that some renters seldom finish the application and may submit documents late. This can actually be an upside for you since you can focus more on other tenants and narrow down your choice.
Reviewing a Rental Application
Going over the rental application form can provide vital information that can help you make the right decision. When crafting an application, ensure you can obtain the following:
- Contact information of the applicant
- Where the renter is currently residing, including the name and contact information of the current landlord
- Where the renter previously resided, including the name and contact information of the former landlord
- Where the renter is currently working and has formerly worked, including the candidate’s job title, salary, length of employment, and reference/s to contact
- Authorization to conduct a credit and background check
This is the phase of the tenant screening where you’ll be able to assess if the renter is financially capable of paying the rent each month. Many landlords require a renter to have an income that’s at least three times the monthly rent.
This rule isn’t unbreakable since there are some tenants that make less than triple the rent amount but still have a healthy financial record and a good history of paying the rent.
Verifying Tenant Income and Employment
Verifying a tenant’s income and employment is essential. It’s easy to write fake companies and impressive job titles. References can provide more accurate information.
You need to research prospective tenants thoroughly since false and misleading information may be submitted in a bid to become a resident of your Roseville rental property.
Verifying a prospective tenant’s income may prove difficult since some employers won’t disclose extensive information and will merely let you know if a candidate works for the company.
A good and solid way to verify income is by asking a potential renter to provide you with official documents, such as a W-2, a pay stub, and an offer letter stating the salary.
Information to Obtain From Previous Landlords
It’s crucial to contact both current and former landlords. The reason for this is that a potential tenant’s present landlord may not necessarily let you know the full story regarding the tenant, so that they can move out and the landlord can avoid a time-consuming eviction.
Past landlords can readily provide detailed information which is invaluable to making the right decision when accepting a prospective renter to reside in your Roseville rental property.
Analyzing Tenant Credit Reports and Background Checks
Reviewing a prospective renter’s credit and background history must be done meticulously so you can avoid evictions, disputes, and property vacancies.
Make sure to learn a candidate’s:
- Complete account history
- Credit score
- Eviction record
- Criminal record
Deciding to Accept or Reject a Potential Tenant
When the tenant screening is completed, you can now make up your mind to approve or reject a candidate’s application to become a resident of your Roseville rental property. It’s best to call or send an email to the renter and tell them about the signing of the lease step.
If you want to decline the application, send an email as proof. It’s not a requirement to supply reasons for disapproving the application unless the candidate asks directly. Read up on the Fair Housing Act to ensure that your tenant screening process is compliant with the laws.
If screening tenants or screening pets for your Roseville rental property requires too much time, you can opt to hire a trusted property manager.
Are you seeking one? If yes, contact JTS Property Management today! We’ll take care of all your property management needs!