I touched on our process for Tenant Screening in my Property Management - Frequently Asked Questions video. I'm going to go further into detail about that here.
Undoubtedly, if you are screening applicants yourself or if you've hired a company to run a background check for you that includes a credit check. While that's a good start, it definitely doesn't provide the full picture.
Keep in mind that the screening process is the single most important step when renting your home. This is how you determine who is going to be living in, and caring for, your home for the foreseeable future. You do not want just anybody.
For that reason, we have created the Perfect "10"ant screening process. We utilize 10 factors before providing you with our professional recommendation on whether or not to move forward. Remember, the final decision rests with you, the landlord.
Other factors like credit score, we already touched on. Criminal history is pretty self-explanatory but one that I take a lot of stock in is interviewing previous landlords. Who better to talk to than someone that has already been in your position? I recommend asking them if the rent was ever paid late, did they give sufficient notice that they were moving, was the security deposit returned, was the home returned in the condition it was received, and lastly, just ask generally what their experience with the tenants was like.
Additionally, we verify their employment and income. Quite simply, can they afford to pay what you're asking for rent? We utilize a debt-to-income ration formula to determine if their existing revolving debt, including the rent exceeds a portion of the income deemed acceptable, which is typically 40%.
To find out the remaining factor, contact me today.
To see some of our #RentalsInFairfax visit http://www.flatfeelandlord.com/office Call us or visit us today at:
Flat Fee Landlord - DC Metro
2106 Gallows Rd. #G
Vienna, VA 22182
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