Tenant Screening Tips
Selecting the right tenant is essential to avoid future problems. Here are some generic tips for effective tenant screening:
Credit Checks - Always perform a credit check to assess the financial responsibility of potential tenants. Look for a good credit score and a history of timely payments.
Background Checks - Conduct a thorough background check to ensure there are no red flags such as past evictions or criminal history that could impact the safety and well-being of your property and other tenants.
Income Verification - Verify that the tenant's income is sufficient to cover rent payments. A common rule of thumb is that the tenant's income should be at least three times the monthly rent.
References - Ask for references from previous landlords to get a sense of the tenant's reliability and behavior. Contact these references to verify the tenant's rental history.
Interview - Conduct an in-person or virtual interview to get to know the potential tenant. This helps you assess if they will be a good fit for your property.
Know Fair Housing Laws - The last and MOST important of all tips! Whatever your process & guidelines for leasing, following all federal, state and local laws is a must. Joining a local landlord association can provide you classes, leasing documents and quality vendors for background/credit checks.
Managing a rental property can be a rewarding experience, but it requires diligence and attention to detail. If you need assistance or have any questions about being a landlord in Eastern Washington and Northern Idaho, we're here to help. Call us at 509-821-1031 for expert advice and support. Let us make your journey as a landlord smooth and successful!
