Why Is Tenant Screening So Important for Your Charlotte Rentals?

Why Is Tenant Screening So Important for Your Charlotte Rentals?

Around 36% of the households in the United States are occupied by renters. As an owner or investor renting out your property, you have a wide pool of renters to choose from. 

However, it's vital that you choose the right tenants, as you want them to be responsible enough to pay rent on time and care for your property. 

That's why tenant screening is such a crucial part of the tenant placement process. What is tenant screening, and why should you use it before placing someone in your Charlotte rental property? Find out everything you need to know here. 

Tenant Screening Protects You and Other Tenants

As a landlord, you want to place your rental property in the hands of someone you can trust. You want responsible and trustworthy tenants. 

You want to know you're safe on your property, and your other residents are as well. 

A background check should be a key part of the tenant selection process. That said, it's vital you follow and adhere to the Fair Housing Act (FHA). The FHA prohibits discrimination based on race, color, religion, national origin, disability, familial status, and sex.

A criminal background is not always indicative of whether a person will be a good tenant. 

As a landlord or investor, you want to avoid any lawsuits and remain fair and unbiased. That's why it's extremely beneficial to work with a property management company that handles the tenant screening for you. 

It Protects Your Property

Normal wear and tear are to be expected, but you want a responsible tenant that cares for the apartment unit or house that you're renting to them. 

Screening an applicant reveals any past history of property damage, violent offenses, and eviction records. Again, it's imperative to follow the FHA rules, which is where a property management company comes in. 

If any records make you wonder if an applicant will be a good fit, you can look into their rental history. A criminal background is not always a sign that someone will not make a good tenant. Some applicants may have landlord recommendation letters, and you can always contact a prior landlord to ask for more details. 

You can also ask for clarification about the situation. 

You Determine Their Financial Situation

One of the biggest benefits of tenant screening is that you can determine if an applicant will be able to pay their rent on time. You'll run a credit check and determine if they have a history of paying their bills on time. 

Are they currently in debt, or have they gone bankrupt? Do they have any loans? 

You want to find tenants that can afford your rent, which is why understanding their financial situation is critical. If their credit cards are maxed out, and they've had trouble managing their finances in the past, they may not be able to pay rent on time. 

Find the Perfect Tenants for Your Charlotte Rentals

Now that you understand the importance of tenant screening, you can secure trustworthy and responsible tenants for your Charlotte, NC rentals. 

HomeRiver Group Charlotte can make the process of managing your property easy. Our services include tenant screening, marketing, rent collection, eviction assistance, maintenance, and much more. 

Contact us today to see how we can help you make the most of your rental property. 

Blog Home