Tenant screening is a vital part of the leasing process. Without a quality tenant, your rental property won’t be very profitable. Its purpose is to ensure that only the most qualified tenant gets to occupy a rental unit. A qualified tenant is responsible, honest, respectful, and pays rent on time.
Own It Detroit understands the value of a thorough tenant screening. We make sure that every tenant undergoes a thorough screening process to ensure your property is rented by the right person.
In addition, we also make use of a pre-qualification system. This enables us to weed out potentially problematic tenants early on in the leasing process. This saves time.
We also take the time to ask tenants important questions as well as clarify what we expect from them.
Below is the criteria we use for screening potential tenants:
Ability To Pay Rent
At Own It Detroit, we pay a lot of attention when it comes to determining the applicant’s ability to pay rent. In this regard, we employ criteria that consists of three points. The points are as follows:
- Income Verification: Besides asking the prospective tenant about details of their income, we also verify their sources of income ourselves. We also verify such things as their social security payments or disability pay.
- Employment History: To determine their ability to pay, we also inquire regarding their history of employment.
- Credit History: We also check the prospective tenant’s credit history. This helps us determine their credit score. The score enables us to know whether the tenant is in a position to make consistent rent payments.
The Rental Background of the Tenant
We assess the rental background of the tenant in multiple ways. They include:
- Eviction History: Screening tenants for eviction history allows us to know whether the tenant is a risk or a safe bet. Eviction procedures cost a lot of money and time.
- Rental History: We make it mandatory that prospective tenants provide us with references of their current and previous landlords. This helps us establish whether or not the tenant has a history of delinquency.
- Criminal History: To make sure that all available precautions have been taken before leasing your property, we carry out thorough criminal background checks. These checks also include sex offender background checks.
Once the tenant meets the screening criteria, the next step is:
- Signing the lease agreement. We encourage tenants to read and understand all terms of the lease. We always provide clarifications and assistance if necessary.
- Security deposit payment.
- Administrative fees payment.
- Pet deposit payments. We also provide a pet policy that includes details of the pets allowed. Such details include type, size, and the number of pets allowed.
By using this screening process, we’ve been able to avoid loss of income through damages or unpaid rent. We also ensure that our screening process is in accordance with the law, especially in regards to the Federal Fair Housing Rules. The result – a pleasant business experience for everyone involved!