Essential Tenant Screening Topics
If you are brave enough and you feel you can take on managing your own property in Ashland, you are probably wondering about tenant screening. If you want to keep money in your pocket and reduce vacancy rates it is essential to screen tenants. If you do not do tenant screening you can loose lots of money due to vacancy, damages, and turnover time. From the minute the tenant calls you you should start your screening process. If you are one of the better owners you use an application. Use these 9 essential tenant screening topics and turn them into questions on your application to get a better feel of who this tenant actually is.
Ultimately renting to someone who has a bankruptcy on their record is up to you. Asurent Property Management looks for the dates of the bankruptcy and the length of time since it happen. Be open and ask the tenant why it happen and what they are doing to prevent it from happening again. Are these tenants on their way up from this or are they slipping back into the dark debt hole?
Sex Offender Registry
There are many different sex offender registries you can drop someones name into to search for potential records. Asurent uses www.sexoffenders.oregon.gov . All you need to do is type in their mane and hit search. Many people have the same names so match the picture with the applicants drivers license. Asurent Property Management of Ashland does not rent any of our units to someone with a sexual offenders criminal record. This could cause a lot of problems with neighbors which we will want to avoid.
Look over their criminal record. Have they been convicted of the same charges more then once? Is this someone you really want to bring into your neighbor hood? Keeping your neighbors happy will be a big asset and an extra set of eyes on your property.
If a tenant has an eviction on their record…avoid….avoid….avoid. If they got evicted once the chances are high. If the eviction shows up in an evictions search this means they did not settle in mediation or didn’t abide by the mediation terms.
Good people get hit with bad things somethings too. Look at their credit score to ensure they will not skip out on paying rent. Divorces can cause scores to drop significantly. Again ask the tenant about their score and why it is where it is. What are they planning on doing to get up higher? If a applicant has multiple credit cards all maxed out and they are skipping out on payments do you think they are going to pay you rent on time…NO!!
Ideally you want some who is stable in their career. Look for someone who has been at the same job for a year or more. If the applicant jumps from job to job they are a flight risk. They may not be able to make rent each month leaving you high and dry. If the tenant just started a new job or is moving to Ashland for a job ask them to pay two months in advance to protect yourself.
The total income for the applicant needs to be at least three times more then the rental amount. Think of it this way. What do you think they will pay first their grocery bill or the rent? You don’t want to put a tenant in a potential situation to fail. Be open with the tenant when they call about your house. Asking this question before they apply will save you time
Length of Residency
Look for the flight risks. Ideally you want someone who is going to stay in your rental for the long haul. Changing tenants all the time can cause vacancy which is lost money out of your pocket. A tenant who is looking to rent for a year or even longer will take care of the home a lot better the a tenant who only wants to stay a few months.
Reason for Leaving
Everyone moves multiple times in their lives. This is to be expected but how much is too much. If your applicant has more then one rental in a year you need to get to the bottom of why this is. Where they evicted, asked to leave, broke the lease. Again all huge signs this applicant is flighty.
Ashland Oregon has had a huge influx in tenants looking for rentals. This gives you, the owner, the upper hand on your selection. On paper create your ideal tenant and write it down. When you advertise your property let this be know. Save yourself some time and don’t bother screening tenants who don’t qualify on your initial phone conversation.