Conducting Background Checks & Screening
Comprehensive screening and background checks can give you better picture of your tenant applicants. The process may seem time consuming and even a little invasive. But the results are a protection for you and your property and those living by your unit.
Background Checks Benefit Everyone
When a tenant moves into a home, that tenant can affect the entire neighborhood as well as have an impact on your property. Placing the best tenant possible in your unit is an important goal for Fort Worth real estate management. The Bureau of Justice has reported that a little over 75% of convicted criminals are likely to repeat criminal activities at some point again in their lifetimes. That is just one thing for your Fort Worth rental management to consider when looking for the right tenant for you rental property.
Finances
The financial stability of your tenants is a key part of your Fort Worth real estate management success. Collecting rent is the goal of owning residential rental property. Rental applications should include a credit check that gives a high enough credit score, usually at least 600 or higher. Also current paycheck statements can give employment record. A tenant should earn an income at least three times the amount of rent to adequately cover the rent cost.
Criminal
The activities of one home can affect an entire neighborhood. Criminal background checks are a safeguard for Fort Worth rental management and the neighbors of your rental unit. Also be aware if an applicant is registered on any sex offenders list. People who have their names on this list can be restricted from living close to schools, parks, and other places like libraries. Know the regulations of your community.
Rental Histories
A two year rental history can give Fort Worth real estate management an idea of rental habits. You can ask and check rental references. Your property is an investment that has cost hundreds of thousands of dollars. You need to carefully consider if the person asking you to rent your unit has the potential to cause that property unnecessary damage. Rental histories can also give an indication of whether someone is on time and regular with rent payments.
The perfect tenant means minimal wear and tear on your property. The perfect tenant adds to the neighborhood. The perfect tenant always pays the rent on time. Maybe the perfect tenant doesn’t really exist. But with thorough screening and comprehensive background checks Fort Worth rental management can come closer to perfection with proven results.