Screening tenants has never been more important in San Diego. With the Covid-19 pandemic in the rearview, eviction moratoriums are now starting to expire.
Before the pandemic, San Diego had roughly 3,700 formal evictions per year. Evictions can occur for many different reasons, including failure to make rent or damaging the property.
The last thing that a landlord wants to deal with is eviction. Landlords lose revenue during these proceedings. The good news is that they can be avoided with a thorough screening process.
Explore four reasons why you should outsource tenant screening to a property management company. Learn more about finding quality tenants and zeroing in on the best property applications.
1. Weed Out Criminal History
An effective tenant background check can identify applicants with a rap sheet. There are many reasons why landlords prefer not to rent to someone with a criminal history.
For starters, many employers will not hire a person with a checkered past. This hinders their ability to bring in a steady stream of income and pay their rent.
Former criminals are more likely to engage in bad behavior. They may damage the property or violate the lease terms and conditions.
2. Maintain Revenue Stream
Landlords rely on monthly rent payments to cover their bills. Screening tenants also involves looking into their financial history.
The goal is to find quality tenants who are likely to always pay the rent. An experienced property management company has the tools to deep dive into an applicant's financial record.
A credit check, for example, looks at the creditworthiness of an applicant. Do they make on-time payments for loans and credit cards? Are any of their accounts in collection?
3. Tenant Eviction History
Landlords want to avoid applicants with a history of evictions. This is a costly process and diminishes a landlord's revenue stream.
The right property management company can identify tenants who have been evicted before. The standard background check is not going to pull this information. Instead, you need to outsource to a company with the tools to do this.
4. Follow State Laws and Regulations
Many rules govern the housing industry. An inexperienced company could violate the Fair Housing Act or other local and state laws. This would leave you in legal jeopardy and vulnerable to a civil lawsuit.
Instead, you want to outsource to a property management company that knows these rules inside and out. This will guarantee that all screenings comply with San Diego laws and ordinances.
Your Guide to Outsourcing Tenant Screening Processes
You now understand why it is a wise decision to outsource background checks for your property applications. To find the best tenants, you need to hire someone with the right tools to dig deep into an applicant's past. There are also both legal and financial implications for tenant screenings.
Investment Safe Property Management has the experience and tools to screen tenants for you. They have been finding good tenants for more than 25 years. If you are looking to outsource tenant screenings, contact us today at Investment Safe Property Management to speak with an expert.