With evictions on the rise in Tampa Bay, many landlords are trying their best to avoid this scenario. One way to do it: invest in better screening methods.
Contrary to popular opinion, a tenant background check shouldn't only be about looking at the applicant's credit score. These days, landlords have plenty of other effective screening tools to find the best fit for their properties.
Want to ensure that you'll select quality tenants for your Tampa Bay rental? Read on to explore the various screening options at your disposal!
Understanding Credit Checks
Credit checks provide essential insights into a potential tenant's financial behavior. By examining their credit report, you can gauge how well they manage debts and whether they're likely to fulfill rental obligations on time.
Here are several aspects to consider when looking at a tenant application:
- Credit Score: Look for credit scores above 670 to ensure reliability
- Payment History: Check for any late payments or defaults
- Debt-to-Income Ratio: Consider how much debt they have compared to their income
- Bankruptcy History: Be aware of any past bankruptcies that might reflect on their financial management
Tenant Background Check Essentials
In addition to credit checks, a comprehensive background check is essential. In Tampa Bay, many landlords partner with property management services that specialize in these screenings, simplifying the process.
Here are the essential items in a landlord's checklist for screening tenants:
- Rental History Verification: Contact previous landlords to inquire about the tenant's behavior and payment reliability
- Criminal Background Checks: This helps ensure the safety of both the property and the community
- Employment Verification: Confirm that the tenant has a steady job and sufficient income to pay rent
How to Make Informed Screening Decisions
Landlords must stay informed and equipped with the right tools to navigate tenant screening successfully. By using credit checks and other screening measures effectively, you can safeguard your rental investment.
When screening tenants, remember that your goal is to find someone who will fulfill their obligations responsibly. At first, this process may seem daunting. With the proper resources, though, you can feel confident in your selection.
Trustworthy Property Management Services
For many landlords in Tampa Bay, engaging a full-service property management company can provide peace of mind. These companies specialize in filtering out potential tenants who may pose rental property risks.
Local managers also understand the rental market and can advise landlords on what criteria to prioritize based on current trends. By using their management services, you can streamline the entire rental process.
Get on Board With Expert Tenant Screening
An effective tenant background check remains the best way to protect your property investment. If you're still not quite sure which services to use, consider outsourcing your screening needs to a trustworthy property manager.
At PMI Arrico Realty & Property Management, we know how important it is to get the right tenant. This is why our tenant screening process involves thorough background, financial, and criminal checks.
If a tenant we screened needs to be evicted, we'll handle the eviction process, including the fees up to $2,000. Contact us here to learn more!
