Did you know that nine out of ten real estate investors acquire tenant reports during the screening process?
While this may sound beneficial, often common reports are purchased quickly and include inaccurate information. Errors lead to consequences. Individuals who would make excellent tenants might get mistakenly judged in the screening process.
This is why it is important to invest in professional tenant screening services. Continue reading to learn more about effective tenant screening in the Tulsa, Oklahoma area.
1. Make Sure You and Your Applicants Have a Mutual Understanding
The first step of the tenant screening process is to be transparent with your applicants. Inform them of your business's standards and procedures. Let them know that you conduct an intensive screening process before drafting a rental contract.
More so, it is critical to seek your applicants' permission to conduct background checks. According to Oklahoma law, real estate owners must present signed consent forms from their applicants before receiving any criminal records.
If you acquire an applicant's records without consent, there will be legal consequences. When you and your applicants have a mutual understanding, this makes the tenant screening process far smoother.
2. Screening Criteria Is Beneficial
When selecting tenants, it is beneficial to have specific criteria in mind. Decide what qualities or attributes matter most to you. The criteria you decide on will be applied to all applicants.
Examples of criteria could be:
- Has no pets
- Does not have any children
- Has a clean criminal history
- Has a specific credit score range
- Has a clean history of rental payments
Screening criteria will be a strong foundation and backbone to rely on in the tenant screening process.
3. Build Rapport with Applicants
The hallmark of the tenant-landlord relationship is trust. Developing a relationship with applicants early in the screening process can help cultivate a sense of trust.
Building rapport will give you the opportunity to know your applicants better and better determine who might be the right fit for the property. Trust is mutually beneficial. Your tenants need to know that they can trust you if an issue arises, and you need to be able to trust your tenants with your property asset.
Taking the time to get to know applicants and build rapport with them will encourage long-term business relationships. Once an applicant becomes your tenant, he or she will more likely remain loyal to you because you showed that you cared.
Tenant Screening Is an Essential Part of the Process
At HomeRiver Group Tulsa, we understand the importance of effective tenant screening. You want to find the best possible match for your property or properties.
With comprehensive tenant screening, you can explore a variety of applicants and determine who best fits your criteria. Our team is proud to offer competitive tenant screening services to help you find your ideal tenants.
To learn more about our tenant screening process and additional services, please contact a member of our team today.