With around 36% of the US population renting their homes, there are bound to be some bad apples. Landlords try to avoid renting to problematic tenants by using a screening process.
While many landlords think handling your own tenant screening makes sense, you could save time and money by outsourcing this to a professional company. So how exactly can you benefit from hiring tenant screening pros? This article lists some of the most compelling reasons.
One of the main reasons you might outsource the tenant screening process is to save time. Tenant screening can be a very time-consuming process. It involves running a background check, a credit check, and also looking at rental history.
Of course, completing all these tasks yourself would mean you have less chance to work on other tasks, such as doing maintenance and repairs on your rental property. It may make sense to outsource these tasks to an external company. This frees up your time to focus on more critical tasks.
Screening tenants is not an easy task. All tenants want to ensure they meet the rental requirements. For some, this could mean lying about their rental history.
When you work with a professional screening company, you're working with an organization that knows all the tricks in the book. If there are any red flags for a potential tenant, a good screening company can find them.
For example, they might find that a potential renter has a history of late payments and criminal activities. Professional screening services have the necessary skills and expertise to ensure these problems can never fly under the radar.
You'll also want to ensure that you're in compliance with Santa Fe's housing laws. These laws are quite complicated, so ensuring compliance on your own can be quite a difficult task.
On the other hand, when you work with professionals, you're hiring a company with the required expertise to ensure everything is legal and above board. Working with the pros makes a lot of sense from a legal perspective, as you'll mitigate considerable potential legal risk.
One of the big reasons that landlords try to do the screening process themselves is because they think they can save money. In reality, self-screening can cost you more money in the long run. Of course, you might save money in the short term because you don't have to buy an additional service.
This kind of short-term thinking doesn't take into account the costly mistakes you could make. For example, maybe you'll miss some big red flags and allow unsuitable tenants to sign a rental contract. These problematic tenants could damage your property significantly, leading to costly repair bills.
Professional Tenant Screening Makes Sense
As you can see, using a professional tenant screening process makes a lot of sense. Not only will you save a lot of time, but you could also save yourself all the problems associated with having bad tenants living at one of your properties.
Are you looking for a professional tenant screening company in the Santa Fe area? Contact us today and we'll explain exactly how we can help you.