Landlords in a Growth Market – Don’t forget the Tenant Check

Rent growth at multi-family rental properties across the USA are expected to increase about 5% in 2015. Slightly higher for the lower end “B” and “C” properties. Towards the end of 2014 new building of multi-family properties began construction to be ready for the forecasted market growth in 2015. However, even with all the reports showing increases in demand for apartments in the USA it is important for landlords and property managers to conduct thorough tenant background checks on applicants before signing a lease. The temptation to fill a newly built apartment complex is palpable but veteran landlords and property managers know that it is the acquisition of long term renters that brings in the most profit and provides a predictable revenue stream into the foreseeable future. Using a third party tenant screening company to vet potential tenants is very important in filling up your empty units with low risk high profit tenants. Performing eviction checks, credit checks, sex offender registry searches and criminal background checks are critical components to any tenant screening policy. It is also important to perform employment verifications and professional reference checks. A well vetted tenant has a much higher propensity of fulfilling lease agreements, paying their rent on time and staying longer. To learn more about the 2015 market expectations and why thorough tenant background checks are still important read recent TenantScreeningUSA.com press release: http://tenantscreeningusa.com/tenant-screening-news/landlords-in-a-growth-market-its-all-about-the-tenant/