The average rent here in Texas is $1,019. This is not cheap, and you need to have confidence that your renters can afford and will pay their rent for the entirety of their lease.
You also need to know that they won’t leave your home dirty and damaged. While there is no way to guarantee that you have the perfect tenant, you can sway the odds in your favor.
Thorough tenant screening will weed out potential undesirable tenants. Don’t make these costly tenant screening mistakes when renting your property.
Not Requiring an Application
Without an application, you don’t have consent to do any of the due diligence you need to do. When you have a potential tenant fill out an application, they permit you to run a credit report and background check. It also includes a clause that requires the tenant to swear that they have only entered truthful information.
The application also gives you a source of information direct from the tenant to compare your reports to. If the application and background check don’t align, you know you have a dishonest applicant.
Not Using Prequalifying Questions
The more people that apply, the more work you’ll have to do to sort through the applications. Instead, ask a few prequalifying questions that can filter out the automatic rejections.
Make sure they have sufficient income, are ready to move in, and no history of eviction. This will ensure you spend your time on those who have legitimate potential in renting your property.
Not Requiring a Photo ID
How often would you invite a total stranger into your home without any indication of who they are? You wouldn’t let them in. So why would you do it with your rental property? Verify a potential tenant’s identity before you invite them to see the rental property.
Failing to Focus on a Tenant’s Qualifications
All too often, landlords focus on the first impression a potential tenant gives. The problem with this is that you get blinded by clothes and personality. These are no indication of that person’s ability to pay.
Focus on what is important, the tenant’s proof of income, and their renting history.
Failing to Check Proof of Income
Never take the tenant’s word on what their income level is. You need to be 100% confident that your tenant can pay. Verify a potential tenant’s income by confirming with their claimed employer.
Skipping the Background Check
Don’t make the mistake of only focusing on the credit check. You also need to run a background check and then cross–reference the information with the application. An undesirable tenant won’t be upfront about their past misdeeds.
It’s your job as the landlord to connect the dots and find the truth.
Discriminating
Not following the law can get you in some serious hot water legally. You could face fines and other penalties.
It’s easy to fall victim to this pitfall. One common mistake is downloading a standardized form off of the internet. It may contain questions that are prohibited in your state. Asking a simple question such as if a couple is married can be looked at as discrimination.
Under the Fair Housing Act, you cannot make any decisions about a tenant based on race, religion, color, sex, handicap, national origin, or familial status.
Not Working With the Professionals
One of the biggest mistakes landlords make is to try and go it alone. You have to navigate the many laws while putting in the hours of research to ensure you find a quality tenant.
Working with a professional screening and property management service can take the burden off of your plate. You will also have additional protections such as eviction, happiness, 21-day, leasing, and results guarantees.
Contact our office today and let us handle the tenant screening process for you.
