Top Reasons Why Screening a Tenant Is Important.
For landlords, finding good tenants for their rental properties is the ultimate goal. After all, ideal tenants will not only pay rent on time but take care of your property and keep it well-maintained. Troublesome tenants, on the other hand, may not pay rent on time, damage your property, and even sublet the apartment without your permission. But in order to find a good tenant, the most important thing that you need to do is screen your prospective tenants. However, if you live in Kelowna or nearby areas and are looking for ideal tenants for your Kelowna home rentals, you can contact Homefinders. We provide a pre-screened tenant database to help landlords find the right renter.
Screening your prospective tenants will help you distinguish ideal tenants from troublesome tenants. Added to that, it’ll also help you assess possible risks you would be taking by renting out your apartment. If you’re still unsure whether or not you should do a tenant screening before renting out your property, take a look at the benefits tenant screening has to offer.
Top 5 Reasons Why Screening Tenants Is Important
Sometimes, it is difficult to tell whether the prospective tenant is as trustworthy and reliable as he or she seems. Here, using tenant screening can be very helpful. Here are the top reasons why screening tenants thoroughly is important.
- Filters Out Bad Tenants
In a perfect world, your home rentals in Kelowna or elsewhere would be filled with renters who caused no damage, paid on time, got along with their neighbors, and did not have a criminal history. Well, the best way to make this dream a reality is through a thorough tenant screening process! By obtaining information about a prospective tenant’s eviction history, criminal history, employment status, and credit history, you can filter out bad tenants who aren’t suitable for your property.
- Reduces Turnover
Another reason why landlords should screen their tenants is that it helps keep the turnover rate low. Whenever tenants leave, landlords are left with the costly process of filling their vacancies which leads to a higher turnover rate. With tenant screening, you will not only be able to find reliable tenants who are willing to sign longer leases but reduce the turnover rate as well.
- Help Avoid Costly Evictions
Eviction is a complicated, lengthy, and costly process. Although it happens for a wide variety of reasons, it is mainly due to a severe breach of the lease or non-payment of the rent. By screening tenants, you can reduce the risk of evictions. How? Well, let’s say you live in Kelowna or nearby areas and need good tenants for your rental apartment. Although you’ll find a lot of tenants who are looking for homes for rent in Kelowna, tenant screening will help you choose the right one, thereby reducing the chances of an eviction.
- Protects Your Property
While good tenants will take care of your property, troublesome tenants may damage your property and leave you with costly repairs. With tenant screening, you will be able to look at the tenant’s prior eviction records and find out whether or not the tenant was evicted for property damage.
- Reveals the Tenant’s Current Financial Situation
By screening tenants, you can look into their financial situation and determine how reliable they’ll be when it comes to paying the monthly rent. Details like credit score, monthly income, and employment of the tenant will help you find out if he or she has a history of credit card debt as it may cause delays in regular payments.
The Bottom Line: So, if you don’t want high-risk tenants in your rental property, make sure to screen each tenant before letting them in. A thorough tenant screening will help you find ideal tenants who have good credit scores, a clean record, and consistent employment. Should you be looking for ideal tenants for your Kelowna home rentals, reach out to us. At Homefinders, we provide landlords with the best platforms to advertise and manage their rental properties. For more details, visit https://www.homefinders.rentals/landlords or call 1(888)289-9340.