Are you spending too much time and money screening rental property applicants? Or are you not screening applicants at all? Either way, we have a solution for you.
Outsourcing your tenant screening process is advantageous for many reasons. You can find quality tenants without rummaging through the data yourself. A property management team in Chevy Chase, Maryland, can help.
Keep reading to learn why outsourcing is a good idea.
Accurate Applicant Information
Outsourcing your tenant screening process to a Chevy Chase property management team means more accurate information. Property managers have connections with screening companies that provide comprehensive details.
Access to thorough applicant information means lessening your risk of renting to a bad tenant. A comprehensive screening will include information on:
- Past evictions
- Credit reports
- Criminal histories
- Rental histories
- Employment
A property manager or screening company can also reach out to applicant references on behalf of the landlord. Accurate and detailed information will help landlords make an informed choice on tenant placement.
Time and Money Saver
One of the main benefits of outsourcing is that it is a huge time saver. The DIY method of tenant screening could cost you days or even weeks if you aren't familiar with the process.
The time you save on outsourcing can be spent on other important property management tasks. You could even check out new rental properties to expand your real estate portfolio.
Outsourcing means saving time without sacrificing quality. Additionally, you save money and cut costs where necessary. When you hire a property management company, tenant screening services are generally included.
Property management fees are well worth the cost to many landlords. Plus, they are tax deductible.
Keeps You Compliant
Staying compliant is one of the hardest things for landlords to do. Even if it's accidental, bias and discrimination could cost you.
Landlords must comply with anti-discrimination laws, such as the Fair Housing Act. One provision in this law is that you cannot deny an applicant because they require a service animal.
Screening applicants can get you in trouble if you do it wrong. For instance, if you only screen certain tenants, you could be called out for discriminating.
Handing off tenant screening and selection to your property manager can help you stay compliant. They know the local laws and can still find the best tenants for your property.
You can provide your property manager with the screening criteria that you wish to follow. You are allowed to deny tenants for certain reasons, such as low income and criminal records.
Outsource Your Tenant Screening Today
There are many reasons to outsource your tenant screening process. When you hire a property management company, you automatically get tenant screening services and much more.
PMI Chevy Chase is part of a larger franchise that has more than 20 years of experience with tenant screening and day-to-day property management. We know the importance of getting the right tenant, not the fastest tenant.
Our comprehensive screening process increases the likelihood that a tenant will fulfill their lease agreement. Ready to find responsible tenants to fill your vacancies? Contact us today to get started.
